www.chuukstatelegislature.fm

Sarem ChuukSarem Chuuk Message Sarem Chuuk
edited February 2015 in General
The Chuuk State Legislature has been kind enough to post summaries of its recent legislation on its website.  Here are the last two laws posted to this website:

CSL12-14-24 – To further amend Sections 1,2,3,4,5,7 and 8 of Chuuk
State Law No. 12-14-16, as amended by CSL No. 12-14-21, by inserting
item “h) and “I) in Section 1(1), inserting a new Section 8-A,
appropriating the sum of $5,241,673 from Unallocated Grants, $1,345,511
from U.S. Federal Grants, increasing the Local Revenue by $556,675 for
the purpose of supplementing funding for the operational expenses of the Chuuk State Government, Boards, Commissions, Authorities, Agencies, and Other Programs, and for other purposes.

CSL12-14-25 – Authorizing the Chuuk State Governor to borrow up to
$30 Million for the purpose of retiring the state’s outstanding debts,
amending CSL No. 190-13, as amended, and for other purposes.

The Legislature, in addition to extending the authority of the Chuuk Political Status Commission (see CSL 12-14-23), has "increase[d] the Local Revenue by $556,675 for the purpose of supplementing funding for the operational expenses of the
Chuuk State Government, Boards, Commissions, Authorities, Agencies, and
Other Programs."

They INCREASED THE LOCAL REVENUE!  HTF did they do that?  They passed a law that says that Chuuk State took in more than a half million extra dollars since the last revenue projection.

Good God Almighty, save us from ourselves.

Comments

  • coconutscoconuts Message coconuts
    Another glorious acheivement for the Republic!

    All you naysayers should eat more kon and fish. Too much rice and spampam?
  • sinbadsinbad Message sinbad
    THIS IS ALL ABOUT APPROPRIATIONS OF MONEY THAT CIRCULATE WITHIN OUR WALLS, NOT FROM OUTSIDE OUR WALLS. 

    ENCLOSED MINDS!
  • ifanaifana Message ifana
    They passed a law that says that Chuuk State took in more than a half million extra dollars since the last revenue projection


    SL12-14-24 – To further amend Sections 1,2,3,4,5,7 and 8 of Chuuk
    State Law No. 12-14-16, as amended by CSL No. 12-14-21, by inserting
    item “h) and “I) in Section 1(1), inserting a new Section 8-A,
    appropriating the sum of $5,241,673 from Unallocated Grants, $1,345,511
    from U.S. Federal Grants, increasing the Local Revenue by $556,675 for
    the
    purpose of supplementing funding for the operational expenses of the
    Chuuk State Government, Boards, Commissions, Authorities, Agencies, and
    Other Programs    , and for other purposes.

    CSL12-14-25 – Authorizing the Chuuk State Governor to borrow up to
    $30 Million for the purpose of retiring the state’s outstanding debts    ,
    amending CSL No. 190-13, as amended, and for other purposes.

    The Legislature, in addition to extending the authority of the Chuuk Political Status Commission (see CSL 12-14-23), has "increase[d] the Local Revenue by $556,675 for the purpose of supplementing funding for the operational expenses of the
    Chuuk State Government, Boards, Commissions, Authorities, Agencies, and
    Other Programs."




        PLEASE PEOPLE COLLAPORATE MORE ON THIS...I AM READING THIS BUT I HAVE NO IDEA WHAT IM READING..

  • Sarem ChuukSarem Chuuk Message Sarem Chuuk
    There are two laws.  The second authorizes the Governor to borrow up to $30 million to pay off Chuuk's debt.  It doesn't say what Chuuk would offer as collateral for the loan, but maybe the Governor knows somebody with lots of money and a generous heart.

    The first law, if I understand it correctly, adjusts the amount of local revenue available for appropriation to pay current expenses, such as ballot printing costs and travel and that kind of stuff.

    What means "adjustment?"  Either the Department of Finance in the last half year actually received more than a half million dollars in unanticipated revenues from fees and taxes, or the Legislature just made it up.  When you really need money, just print it, and then borrow $30 million to replace old debt with new debt.

    At least that is how it appears to me.
  • irrelevantirrelevant Message irrelevant
    While we seemed to be noticing many appropriation measures by the houses in our Chuuk, it is critical that we have as much revenue generation measures too.

    Are there any? I hardly can note them on the site.
  • sinbadsinbad Message sinbad
    Revenue has not increased or exceeded previous years' collection. And we will not be seeing any increase either.

    These appropriations are just enough for expenditures. Nothing to turn into more revenue. If that $30M can be used for outstanding debts, what source will the state use to repay the loan? 

    Chuuk recently sold its Bank of FSM shares, our only financial investment. What have we left?  

    Can the legislature also appropriate money to buy land where we can build money making establishments?

    WHAT IS THE PURPOSE OF APPROPRIATIONS?  It appears that it is just a way to legitimize the meager money to go into the hands of the few for their personal use.

    This loan that the Governor has asked the legislature to allow him is said to be used to pay outstanding debts. Will this be for all those that the government owe? Lands that schools are on, dispensaries, access roads, airport, other government buildings, 

    Will this loan also cover the interest that have accumulated over the years?
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