Public Investments Broadening Act

Public Investments Broadening Act

Osolian law passed by Assembly
Osolian Assembly
Introduced by	tz_scion
Dates
Presented to the Assembly	30 August 2024
Commencement	31 August 2024
Other legislation
Amends	Public Investments Act
Status: Current legislation
History of passage through the Assembly
Text of statute as originally enacted

The Public Investments Broadening Act is a law in Osolia, passed by the Osolian Assembly with 100% approval. This act amends the Public Investments Act to allow the public investment pool to be used for more governmental purposes, such as for funding events, stimulus checks, and more.

Background

On August 19, 2024, during a discussion on the economy, former Speaker tz_scion brought up the Public Investment Pool, a pool of money created by the Public Investments Act for use for public ventures, especially infrastructure. He stated that he thought it was "flawed" because it was "a bit too difficult to approve usage of the money in that pool, so most of the time, the money just stays in there and does nothing."

This was discussed a bit more, mainly between Speaker Michael Webb and Scion, where after some debate as to what the law allowed the government to do with the funds, Scion decided to write a small one-clause amendment to the Public Investments Act, titled the Public Investments Broadening Act, less than half an hour after bringing up the issue.

Since Speaker Webb pushed for a formal Assembly meeting to address all of the new bills being proposed at the time, the bill's passage was delayed until then. After the conclusion of that meeting came before the Public Investments Broadening Act was discussed, Speaker Webb simply decided to push for it further in #assembly, and soon after started a formal vote on August 30, 2024. The next day, on August 31, 2024, the Public Investments Broadening Act was passed by the Assembly with 100% approval.

Provisions

Amendments to the Public Investments Act

This section amends Article 1, Section 1, Clause 1 of the Public Investments Act to the following:

The Osolian Public Investment Pool shall be an account held by the Osolian Treasury in the control of the Department of Finance. Funds may be directly deposited into the pool by any Osolians in order to help fund projects or routine work undertaken by the Chief’s Council and all Governors. The pool will be shared across projects.

This section clarifies that the funds can be used by the Chief's Council and all Governors for any purpose, not just for infrastructure, as the Public Investments Act previously implied this.