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:

1. 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.

1. 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.
2. Format of the Government's Required Financial Report. The Report of the Finance Minister mandated by clause 14 of the Newer Numismatic Naming Act shall be delivered to the Ziu during the first Clark of each Cosa (if said Clark is seated) and shall be required to contain the following information: (1) the amount, location, liquidity, and availability of all funds held by or for the Royal Treasury (2) the investment policy that will be pursued by the Finance Ministry for any amount of the treasury that may be budgeted by the Ziu for use in investment, (3) the current valuation of the louis with respect to other foreign currency, and (4) 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.
3. Governmental Budgeting Requirement. The Prime Minister shall be required to submit to the Ziu, as a government bill, and in time for consideration by the second Clark of the Cosa, a detailed budget listing all planned expenses of the government through the current Cosa, specifying the the amounts to be requisitioned for each Cabinet Ministry and the purpose of each such expense. This budget shall also include any amount of the treasury to be set aside for investment as directed by the Finance Minister according to the policy reported to the Ziu. The Seneschal shall take care to ensure that the budget presented will be sufficient to provide for all expenses of the government of the Kingdom of Talossa until the next budget shall be presented, during the subsequent Cosa.
4. 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 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).
5. Emergency Spending. During times when any budgeted funds have been exhausted, when no budget has been approved due to rejection by the Ziu or dissolution of the Cosa without action on a budget, the Prime Minister may issue a Prime Dictate to provide 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.

Noi urent q'estadra sa:
Alexandreu Gavárþic'h (MC, LRT)
Ma la Mha, Baron Hooligan (MC, RUMP)
Flip Molinar (MC, LRT)