Law:The Men in Black II Act
38RZ15 — The Men in Black II Act
WHEREAS the functions and responsibilities of the Burgermeister of Inland Revenue (also known as the Royal Treasurer) and of the Minister of Finance (also known as the Chairman of the Royal Bank & Post, which is an agency within the Finance Ministry) have been detailed in Talossan Statutory Law 34RZ21 (The Burgermeister of Inland Revenue Act), 35RZ24 (The Royal Household Cleaning Act), 36RZ2 (The Newer Numismatic Naming Act), and 36RZ17 (The Cabinet Refinishing Act), and
WHEREAS all four of these are pretty cool laws, which make a lot of sense, and
WHEREAS it makes sense to have laws that have to do with money making a lot of sense, and
WHEREAS it seems prudent to make even a little more sense of things, and even give the nation a fiscal schedule, now
THEREFORE be it resolved by the Ziu of the Kingdom of Talossa:
- Refined Responsibilities of the Finance Minister. Point H of clause 2 of the Cabinet Refinishing Act is modified to read as follows:
- The Finance Minister, heading the Ministry of Finance. The Finance Minister also serves as the Chairman of the Banqeu es Post Rexhital (Royal Bank & Post) unless he gets too lazy and appoints a Chairman. The Ministrà dal Finançù (Ministry of Finance) is responsible for setting and implementing the economic policies of the Kingdom, and directing the investment of that portion of the Royal Treasury set aside by authorized budgeting act of the Ziu (all of which said investments shall be executed in fact by the Burgermeister of Inland Revenue, an Officer of the Royal Household), and for the design, minting, printing, valuation, distribution, and redemption of all national currency, postage, and commemoratives.
- Restatement of Governmental Spending Authority. Clause 16 of the Newer Numismatic Naming Act, governing expenditures from the Royal Treasury, is stricken, to be replaced by provisions of this Act.
- The Government's Financial Report. The Finance Minister with the assistance of the Burgermeister of Inland Revenue shall deliver a Financial Report at the end of each Cosa term. This Report shall be required to contain the following information:
- the amount, location, liquidity, and availability of all funds held by or for the Royal Treasury,
- a detailed list of all changes in the account balances of the Royal Treasury since the last Report,
- a balance sheet which clearly lists all expenses linking them to the relative sheet items in the budget bills approved in the Cosa,
- the investment policy that is will be pursued by the Ministry of Finance for any amount of the Treasury that has been budgeted by the Ziu for use in investment,
- the current valuation of the louis with respect to other foreign currency,
- the total amount of louise and postal items in circulation.
- The Government’s Budget and Financial Planning Bill. The Seneschal shall be required to submit to the Ziu, in time for consideration by the the second Clark of the Cosa, a government bill approved by the whole Cabinet which shall contain the following:
- a detailed budget listing all planned expenses of the State through the current Cosa, specifying the amounts to be requisitioned for each Cabinet Ministry or Officer of the Royal Household and the purpose of each such expense;
- any amount of the Treasury to be set aside for investment as directed by the Finance Minister and the investment policy that will be pursued;
- the total amount in louise of any planned currency minting and printing, and postage issuance to be executed by the Royal Bank & Post during the term of the current Cosa.
- The Seneschal shall take care to ensure that the budget presented will be sufficient to provide for all expenses of the Kingdom of Talossa until the next budget shall be presented, during the subsequent Cosa. This Bill cannot be submitted to the Ziu without the presence of the Financial Report required in section 3 comprehensive of all its part.
- Legislative Authority Requirement. All withdrawals from the Royal Treasury (except as provided for by clause 6, below) must be authorized by action of the Ziu approving the expense for which the withdrawal is made, either in the omnibus Budget and Financial Planning Bill required by clause 4, above, or through approval of supplemental budgeting legislation. In accordance with such authorized budgeted expenses, the Government of the day is empowered to requisition such funds from the Royal Treasury (said withdrawal to be performed in fact only by the Royal Treasurer or an authorised deputy).
- Emergency Spending. During times when any budgeted funds have been exhausted, when no budget has been approved due to rejection by the Ziu, lack of the Financial Report or dissolution of the Cosa without action on a budget; the Prime Minister may issue a Prime Dictate to provide only for emergency spending, but may not act to cause withdrawal of funds from the Royal Treasury to fulfill the terms of any Prime Dictate unless and until the King has explicitly assented to the Prime Dictate.
- Spending Authority Removal. At any time before an allocation is disbursed by the Burgermeister of Inland Revenue, members representing at least one-third of the Cosâ by seats may petition the government that such spending shall not be incurred until such issuance shall be ordered by an act of the Ziu. The Burgermeister of Inland Revenue shall be required to grant all such petitions until such time as an act of the Ziu restores the funding.
Noi urent q'estadra sa:
Alexandreu Gavárþic'h (MC, LRT)
Ma la Mha, Baron Hooligan (MC, RUMP)
Flip Molinar (MC, LRT)