S.19.2-23: Innovation Industry TEA Act (voting)

[Deep Dixieland Senator, Muad'dib (OSR MSR)]

Section 1: Title
This bill will hereby be known as the Innovation Industry TEA Act.

Section 2: Purpose
This bill is intended to provide the Southern region with a competitive advantage in the modern economy, providing jobs and wealth to citizens.

Section 3: Provisions

1. This bill provides for a total exemption from taxation for legally defined "Innovation Industries"

2. Innovation industries shall be defined as any legally incorporated firm that derives a majority of revenue through participation in:
I: Cryptocurrency mining or algorithm-based securities trading.
II: The production or transportation of chemicals for industrial or scientific use.
III: The production or transportation of petroleum, or firms which provide services related to the exploration and production of petroleum.
IV: The production, transportation, or sale of firearms.
V: The production, transportation, or business-to-business sale of any regionally or federally legalized and taxed recreational drugs. Recreational drugs will still be subject, however, to any applicable sales tax at public retail sale.

3. Eligibility
Any firm which wishes to obtain this tax exempt status must be legally headquartered within the Southern region.

4. Implementation
This bill will be effective on any commerce that takes place from time of passage onwards, as well as any firm specific taxation from fiscal year 2019 onwards. Firms may submit a request for the Innovation Industry tax exempt status from the time of passage.

Sponsor: Delegate Dope and Diamonds (HillGoose)

[President Punxsutawney Phil]

This certainly is an interesting bill.

[President Punxsutawney Phil]

bump

[Deep Dixieland Senator, Muad'dib (OSR MSR)]

No! We've had a series of bills containing reasonable tax cuts but this is going a bit too far. A total tax exemption? Come on HillGoose! How big is the campaign contribution you're getting from the petroleum industry?

How are recreational drugs an "innovation industry"?

As it stands I will not vote for this bill.

Section 1: Title
This bill will hereby be known as the Innovation Industry TEA Act.

Section 2: Purpose
This bill is intended to provide the Southern region with a competitive advantage in the modern economy, providing jobs and wealth to citizens.

Section 3: Provisions

1. This bill provides for a total exemption from 20% reduction in taxation for legally defined "Innovation Industries"

2. Innovation industries shall be defined as any legally incorporated firm that derives a majority of revenue through participation in:
I: Cryptocurrency mining or algorithm-based securities trading.
II: The production or transportation of chemicals for industrial or scientific use.
III: The production or transportation of petroleum, or firms which provide services related to the exploration and production of petroleum.
IVIII: The production, transportation, or sale of firearms.
V: The production, transportation, or business-to-business sale of any regionally or federally legalized and taxed recreational drugs. Recreational drugs will still be subject, however, to any applicable sales tax at public retail sale.

3. Eligibility
Any firm which wishes to obtain this tax exempt status must be legally headquartered within the Southern region.

4. Implementation
This bill will be effective on any commerce that takes place from time of passage onwards, as well as any firm specific taxation from fiscal year 20192020 onwards. Firms may submit a request for the Innovation Industry tax exempt status from the time of passage.

Even with the above amendments i'm still not sold on this. But i am more amenable to this amended version.

[AustralianSwingVoter]

How exactly are firearms remotely innovative? Yet alone more innovative than petroleum and drugs? Not to mention transporting chemicals of all things?

[Deep Dixieland Senator, Muad'dib (OSR MSR)]

How exactly are firearms remotely innovative? Yet alone more innovative than petroleum and drugs? Not to mention transporting chemicals of all things?

Regarding chemicals the key phrase is "for scientific use".
Regarding firearms I think I need to amend this bill further or simply motion to table as this bill is all over the place.

Also I am quite tired due to getting next to no sleep last night so I'm not quite with it for trying to provide fitting amendments to bills that are all over the place. Thanks for bring more things to my attention ASV. I will deal with it tomoz.

[Deep Dixieland Senator, Muad'dib (OSR MSR)]

I motion to table. 24 hours to object.

[Deep Dixieland Senator, Muad'dib (OSR MSR)]

Sound the bells (Delegates will be DM'd)

Vote to Table S.19.2-23: Innovation Industry TEA Act is now open.
Voting will last 48 hours or until all delegates have voted, which ever comes first.

Voting options are:
[   ] Aye
[   ] Nay
[   ] Abstain

[Deep Dixieland Senator, Muad'dib (OSR MSR)]

Aye

[PragmaticPopulist]

Aye

[President Punxsutawney Phil]

Aye

[reagente]

aye

[HillGoose]

Nay

[courts]

aye

[Deep Dixieland Senator, Muad'dib (OSR MSR)]

VOTING IS CLOSED to table S.19.2-23: Innovation Industry TEA Act

Final Vote tally for S.19.2-24:
[ 5 ] Aye
[ 1 ] Nay
[ 0 ] Abstain
[ 1 ] Absent (Misseees)

S.19.2-23: Innovation Industry TEA has been Tabled

Delegate HillGoose,
I suggest you rewrite the bill to be more coherent.