Finance Act of 2026

An Act to establish bank-balance, dormant-account, property, payroll, and organizational taxes; revise imperial and royal title tax exemptions; authorize public monetary advances, scheduled monetary expansion, and voter-approved contingency financing; provide settlement funds, digital workspaces, monetary records, and Imperial Market pricing; provide Governors appointed by Parliament and elected by the people on the Imperial Banking Council; and amend Titles 1, 2, and 5 of the Civil Code of the Totemian Empire.

Statement from Nuxart

Hello,

I know that the Totemian Empire, its people and its parliaments have historically been opposed to taxation. I do however request that this parliament agree to push through this taxation bill as it ties back to the four facts. Taxation will allow us to capture back currency which might’ve never been used and could be spent on other programs without needing to risk the printing of new currency. Taxation allows for currency to gain importance as everyone will understand the difficulty of earning currency compared to the days of no taxation. Taxation also reduces the influence wealthy individuals might have over the government and society at large. The reigning Monarch, the Emperor's sons and daughters, and qualifying members of the Imperial Family and Crown of Omnislavia shall remain protected from taxation, while other Kings and Queens shall not be exempt solely by virtue of their crowns.

The Imperial Market is justified by the Government's infinite material resources. Buying goods from private sellers would not increase the state's available material supply; obtaining goods already in circulation would serve only to regulate their supply outside government control. The Market should therefore distribute state resources at centrally determined prices without paying private sellers, while controlling the quantity released into circulation.

Thank You

Chapter 1 - Tax Code

Section 1. Title 5, Chapter 7, of the Civil Code of the Totemian Empire is amended by adding Article 8 immediately after Article 7 and before Chapter 8, to read:

Article 8: Tax Code

Section 1: Application to Totemic Currency and Official Digital Services

The taxes in this Article apply only to a taxable subject or event concerning Totemic Shilleng (SL), or directly held, constituted, registered, paid, transferred, or carried out through an official digital service of the Totemian Empire. These are alternative grounds, subject to the narrower payroll rule in Section 8.

Section 2: Marginal Taxation

The following taxes are marginal taxes:

(a) the Wealth Bank Balance Tax;

(b) the Dormant Bank Account Tax;

(d) the Payroll Tax; and

(e) the Organizational Wealth Bank Balance Tax.

A marginal tax applies each bracket's rate only to the portion within that bracket. Total tax is the sum of those amounts. A finite upper boundary is inclusive, and the next bracket applies only to the amount exceeding it.

The exemptions established by Title 5, Chapter 5, as amended by this Act, shall continue to apply.

Section 3: Wealth Bank Balance Tax

The Wealth Bank Balance Tax shall be collected on January 1 and July 1 each year.

Balances legally owned by national, subnational, or local governments or their state organs, balances governed by Section 5, and balances legally belonging to a business or commercial undertaking registered through the National Organizations Administration are excluded from this tax.

The following rates apply at each collection:

0–1,000 SL at 0%.

Over 1,000–5,000 SL at 2%.

Over 5,000–15,000 SL at 4%.

Over 15,000–35,000 SL at 7%.

Over 35,000–65,500 SL at 14%.

Over 65,500–100,000 SL at 24%.

Over 100,000–500,000 SL at 30%.

Over 500,000–1,000,000 SL at 35%.

Over 1,000,000–5,000,000,000 SL at 40%.

Over 5,000,000,000–10,000,000,000 SL at 45%.

Over 10,000,000,000–100,000,000,000 SL at 60%.

Over 100,000,000,000–10,000,000,000,000 SL at 75%.

Over 10,000,000,000,000–25,000,000,000,000 SL at 80%.

Over 25,000,000,000,000–65,000,000,000,000 SL at 85%.

Over 65,000,000,000,000–100,000,000,000,000 SL at 90%.

Above 100,000,000,000,000 SL at 95%.

Section 4: Dormant Bank Account Tax

The Dormant Bank Account Tax shall be collected on January 1 and July 1 each year.

The review period for January 1 runs from July 1 of the preceding year to immediately before collection. The review period for July 1 runs from January 1 of the same year to immediately before collection. For the first collection after this tax takes effect, the review period shall not begin before the tax's lawful effective date.

An account is dormant only where its aggregate qualifying economic activity during the review period is less than the greater of 100 SL and 0.1% of its taxable balance immediately before collection. Qualifying activity consists of genuine, settled payments received from or made to another lawful owner for goods, services, wages, independent gifts, or other bona fide economic transactions. An outgoing payment may establish activity even where no qualifying money was received.

Assigned Universal Basic Income payments under Title 5, Chapter 6 shall not count as qualifying activity. Transfers between accounts belonging to the same lawful owner, transfers between persons under common control without independent consideration, refunds, reversals, circular transfers, artificial transactions, and tax debits shall not count. The same money shall not be counted more than once in a linked series of transactions. The system shall verify the nature and settled amount of qualifying activity from authoritative records; missing or materially conflicting records shall produce an unresolved eligibility decision rather than a presumption of dormancy.

The tax shall apply marginally to the qualifying account's taxable balance at the following rates at each collection:

0–1,000 SL at 0%.

Over 1,000–5,000 SL at 4%.

Over 5,000–15,000 SL at 8%.

Over 15,000–35,000 SL at 12%.

Over 35,000–65,500 SL at 18%.

Over 65,500–100,000 SL at 28%.

Over 100,000–500,000 SL at 35%.

Over 500,000–1,000,000 SL at 40%.

Over 1,000,000–5,000,000,000 SL at 45%.

Over 5,000,000,000–10,000,000,000 SL at 50%.

Over 10,000,000,000–100,000,000,000 SL at 65%.

Over 100,000,000,000–10,000,000,000,000 SL at 80%.

Over 10,000,000,000,000–25,000,000,000,000 SL at 85%.

Over 25,000,000,000,000–65,000,000,000,000 SL at 90%.

Over 65,000,000,000,000–100,000,000,000,000 SL at 95%.

Above 100,000,000,000,000 SL at 95%.

Balances legally owned by national, subnational, or local governments or their state organs, and balances subject to the Organizational Wealth Bank Balance Tax under Section 5, shall be excluded from this tax. A balance assessed under this Section shall not also be assessed under the Wealth Bank Balance Tax in Section 3 at the same collection. Eligibility and assessment shall be determined by the Dormant Account Tax System (DATS) under Section 10.

Section 5: Organizational Wealth Bank Balance Tax

The Organizational Wealth Bank Balance Tax shall be assessed and collected on January 1 and July 1 each year.

This tax applies only to an organization registered or recognized through the National Organizations Administration as a political organization or a religious organization.

Combine the organization's positive bank-account balances within Section 1 before collection, in SL, counting the same funds only once. Include its General, Donation, Payroll, Dedicated Purpose, and other accounts. Exclude money legally belonging to another owner.

The following rates apply once to that combined taxable balance at each collection:

0–5,000 SL at 0%.

Over 5,000–15,000 SL at 1%.

Over 15,000–30,000 SL at 2%.

Over 30,000–60,000 SL at 3%.

Over 60,000–100,000 SL at 4%.

Over 100,000–300,000 SL at 5%.

Over 300,000–1,000,000 SL at 6%.

Over 1,000,000–3,000,000 SL at 7%.

Over 3,000,000–10,000,000 SL at 8%.

Above 10,000,000 SL at 9%.

Section 6: Property Use Classification

The National Land Administration shall record each parcel's classification by its actual principal use at assessment, with the relevant uses, areas, and reasons. Substantial independent uses shall follow the mixed-use rule.

Residential property means property owned and actually occupied by its owner as a home, including domestic grounds, gardens, household animals, and incidental household cultivation. The home portion of a farm shall be identified separately from its productive agricultural land.

Commercial property means property principally used to sell goods, provide services, or conduct business, except where a more specific classification applies.

Industrial property means property principally used for manufacturing, processing, fabrication, or comparable industrial production.

Agricultural property means property principally used for farming, cultivation, breeding, or agricultural production whose area, scale, and operation exceed incidental household use.

Mixed-use property means a registered parcel with substantial, independently identifiable uses in at least 2 classifications. A parcel containing both a substantial residential use and agricultural operation shall use the mixed-use schedule; separately registered parcels shall be classified by their respective uses.

Religious property means property principally used for worship, religious instruction, ceremonies, or administration of a lawfully recognized religious organization.

Political property means property principally used as headquarters, offices, meeting premises, or campaign administration premises of a lawfully registered political party or political organization.

Section 7: Property Tax

The Property Tax shall be payable by the owner identified in the effective lawful land record on the parcel's taxable assessed value in SL. It shall be assessed and collected on January 1 and July 1 each year using the effective lawful valuation and classification records.

The following rates apply at each collection:

Residential

0–25,000 SL at 1%.

Over 25,000–100,000 SL at 3%.

Over 100,000–500,000 SL at 6%.

Above 500,000 SL at 13%.

Commercial

0–25,000 SL at 2%.

Over 25,000–100,000 SL at 5%.

Over 100,000–500,000 SL at 10%.

Above 500,000 SL at 20%.

Industrial

0–25,000 SL at 1%.

Over 25,000–100,000 SL at 3%.

Over 100,000–500,000 SL at 5%.

Above 500,000 SL at 10%.

Agricultural

0–25,000 SL at 0.5%.

Over 25,000–100,000 SL at 1.5%.

Over 100,000–500,000 SL at 3%.

Above 500,000 SL at 6%.

Mixed-use

0–25,000 SL at 1.5%.

Over 25,000–100,000 SL at 4%.

Over 100,000–500,000 SL at 8%.

Above 500,000 SL at 16%.

Religious

0–25,000 SL at 0.25%.

Over 25,000–100,000 SL at 0.75%.

Over 100,000–500,000 SL at 2%.

Above 500,000 SL at 5%.

Political

0–25,000 SL at 0.25%.

Over 25,000–100,000 SL at 0.75%.

Over 100,000–500,000 SL at 2%.

Above 500,000 SL at 5%.

Calculate the tax once on the whole parcel under its classification schedule. The National Component shall be 50% of that total, the Subnational Component 30%, and the Local Component 20%.

Assessment, geographical attribution, custody, records, and release shall follow Articles 1 to 7 of this Chapter.

Section 8: Payroll Tax

The Payroll Tax shall be deducted from gross taxable remuneration upon release and borne by the recipient. The deduction discharges the corresponding part of the payer's remuneration obligation.

On the first and every subsequent release, remuneration attributable to an earning interval before the lawful effective date of this tax shall be excluded. Where a recorded earning period crosses that date, PRCS shall split the interval at commencement and calculate liability only on the remuneration attributable to the period beginning on or after that date.

Notwithstanding Section 1, only payroll administered through an official digital service of the Totemian Empire is subject to this tax.

Taxable remuneration includes salary, wages, bonuses, commissions, and remunerative allowances, expressed in SL in the authoritative payroll record. Assigned UBI and reimbursement of actual documented expenses are excluded.

Each release shall use brackets scaled to the earning period recorded in the authoritative payroll record. That period shall follow the contractual pay cycle and include its non-working time; it shall not be inferred solely from the time since the last transfer. A partial period shall include only the time covered by the remuneration.

Annual Reference Brackets

The following brackets establish the annual marginal rate schedule for the Payroll Tax. For each release, PRCS shall determine the taxable amount and covered earning interval from the authorized payroll instruction and recorded pay schedule. Convert each annual boundary into its release-specific amount by multiplying it by the interval's elapsed seconds divided by the seconds in its calendar year. Calculate parts in different calendar years separately and retain full precision:

0–28,000 SL at 0%.

Over 28,000–38,000 SL at 10%.

Over 38,000–56,000 SL at 20%.

Over 56,000–75,000 SL at 20%.

Over 75,000–100,000 SL at 22%.

Over 100,000–130,000 SL at 24%.

Over 130,000–170,000 SL at 26%.

Over 170,000–220,000 SL at 28%.

Over 220,000–280,000 SL at 30%.

Over 280,000–350,000 SL at 32%.

Over 350,000–450,000 SL at 34%.

Over 450,000–600,000 SL at 36%.

Over 600,000–800,000 SL at 38%.

Over 800,000–1,000,000 SL at 40%.

Over 1,000,000–1,500,000 SL at 46%.

Over 1,500,000–2,000,000 SL at 47%.

Over 2,000,000–3,000,000 SL at 48%.

Over 3,000,000–4,000,000 SL at 49%.

Over 4,000,000–5,000,000 SL at 50%.

Over 5,000,000–7,500,000 SL at 53%.

Over 7,500,000–10,000,000 SL at 55%.

Over 10,000,000–15,000,000 SL at 58%.

Over 15,000,000–20,000,000 SL at 60%.

Over 20,000,000–30,000,000 SL at 63%.

Over 30,000,000–50,000,000 SL at 65%.

Above 50,000,000 SL at 70%.

The payer shall record the earning period's start and end timestamps. Attribute a bonus or commission to the period to which it relates, or otherwise to the current contractual pay period. Advances, delayed payments, and combined or split releases shall retain their underlying earning periods; payment timing or relabelling shall not extend the period over which remuneration accrued.

On each release, PRCS shall calculate the additional liability under Section 10 and deduct it from that release. Round the resulting deduction to the nearest 0.01 SL, with an exact half rounded upward, and carry the recipient's fractional remainder into subsequent deductions. The payroll instruction shall reconcile gross remuneration, tax deducted, and net payment.

Section 9: Legal Particulars and Collection

The taxes established by this Article are imposed by the Finance Act of 2026 and shall be administered by the Central Revenue Administration. Their intended effective date is November 25, 2026. If that date is earlier than the first date permitted by Article 9, Section 5, of the Constitution, their effective date shall instead be the first calendar day following the completion of 7 full calendar days after the later of lawful enactment and recording of the complete operative Tax Code entry, excluding the day of that later event. No liability under a new or increased charge shall accrue for an earlier date or period. Each operative Tax Code entry shall state the tax, taxable subject, rate or calculation method, effective date, administering authority, and imposing instrument. Collection shall begin on the first prescribed January 1 or July 1 collection date, or payroll release, on or after the applicable lawful effective date.

All receipts shall first be credited to the Central Taxation Fund under Article 2 of this Chapter, unless an Act of Parliament or Imperial Order expressly provides another initial destination. Custody, classification, attribution, and release shall follow this Chapter.

Section 10: Digital Tax Systems, Collection Standards and Logs

Administration and Authoritative Records

The Central Revenue Administration shall administer assessments and collections using the official digital services under Ministry of Finance supervision. The Treasury Operations Administration shall maintain fiscal and reconciliation records and submit authorized instructions to IBTE. IBTE shall maintain authoritative balances and transaction records and process lawful transactions.

The authorized technical maintainers of the Totemian Empire’s official digital services shall implement and maintain PRCS, BBTS, DATS, PTS, and TIE.

Automatic Tax Collection Standard (ATCS)

The system shall retain versioned Tax Code entries and the authoritative records used for each assessment. It shall verify the tax's scope and exemptions, apply Section 2, and collect only when the operative schedule is complete and its collection date or payroll release occurs. Preserve full calculation precision and round completed liabilities to the nearest 0.01 SL, with an exact half rounded upward; Section 8 governs payroll deductions.

The requirements of this Section constitute the Automatic Tax Collection Standard (ATCS), applicable to PRCS, DATS, BBTS, and PTS. Each system shall automatically produce an itemized assessment, submit the lawful collection instruction at the applicable collection event, obtain IBTE settlement confirmation, and record the reconciled receipt and fund credit under Section 9. Routine tax collection under an operative schedule shall not require separate case-by-case approval. Record assessed, instructed, settled, unpaid, and corrected amounts and statuses separately, and make the assessment and receipt available to the liable taxpayer.

Tax Audit Logging Standard (TALS)

PRCS, BBTS, DATS, and PTS shall maintain linked assessment, collection, and audit logs under the Tax Audit Logging Standard (TALS). Each assessment and collection record shall identify:

(a) the tax, imposing instrument, Tax Code entry and schedule version, and administering authority;

(b) the liable person's or organization's identifier, taxable subject and account or parcel identifiers, scope ground, and exemption decision;

(c) the source records, their versions and effective times, assessment period, due date, assessment time, and pre-collection snapshot;

(d) the gross amount, exclusions, taxable amount, exact bracket boundaries, amount and rate in each bracket, bracket taxes, rounding, and total liability;

(e) prior collections, current collection, unpaid remainder, assessment and payment status, and processing times;

(f) a unique assessment identifier, the Tax Collection Identifier required by Article 2, source account identifiers, IBTE transaction references, and destination fund identifier;

(g) any required Property Tax Attribution Identifier, governmental recipients, component amounts, jurisdictional shares, and release or attribution status; and

(h) linked corrections, reversals, or refunds, their amounts and lawful basis, the original and corrected records, and the responsible officer or automated process.

Each processing event shall record its UTC timestamp, system name and version, assessment identifier, operation, prior and resulting status, responsible officer or automated process, outcome, reason or error code, and related instruction or transaction reference. Log eligibility decisions, calculation results, collection instructions, settlement confirmations, failures, retries, and corrections. Preserve original entries and append linked corrections rather than overwriting the history.

The official digital services shall permit authorized searches of those records and logs by system name or acronym, tax type, assessment or collection period, taxpayer or organization identifier, account or parcel identifier, assessment identifier, Tax Collection Identifier, Property Tax Attribution Identifier, IBTE transaction reference, processing status, and event time.

Payroll Release Calculation System (PRCS)

The Payroll Release Calculation System (PRCS) shall form part of the official digital payroll services and calculate release-specific brackets from verified earning intervals of positive duration, including intervals measured in seconds, hours, days, months, or years. Use UTC timestamps and a calendar year of 365 days, or 366 days in a leap year, with 86,400 seconds per day.

PRCS shall maintain a shared assessment record for each recipient across payers, positions, and destination accounts. Divide overlapping earning intervals at every interval boundary and calendar-year boundary into non-overlapping segments. Allocate each release's taxable remuneration uniformly over its recorded earning period and combine the portions attributable to the same segment.

For each segment, calculate annual-equivalent taxable remuneration by multiplying its combined taxable remuneration by the seconds in that calendar year and dividing by the segment's elapsed seconds. Apply Section 8's annual marginal brackets to that equivalent, then multiply the resulting tax by the segment's elapsed seconds divided by the seconds in that year. The tax attributable to a new release is the sum of the increases in segment liabilities before and after that release is added. Match prior releases and deductions before collection; overlapping intervals, additional payers, split payments, or retries shall not duplicate bracket allowances or tax already collected.

Before collection, PRCS shall match the authorized payroll instruction, recorded pay schedule, recipient, and funds committed to that release; determine the gross amount to be released and taxable amount; and produce the converted monetary bands and calculation. Retain payer and recipient identifiers, the release identifier, gross remuneration, exclusions, prior deductions, current deduction, net payment, and the source pay-cycle record, earning and release timestamps, interval duration, year divisor, annual-equivalent taxable remuneration, allocations and matched releases, calculation version, unrounded segment liabilities, prior collections, and carried fractional remainder. The recipient's fractional remainder shall persist across payers and schedule changes.

Bank Balance Tax System (BBTS)

The Bank Balance Tax System (BBTS) shall assess and collect the taxes under Sections 3 and 5. At 00:00 UTC on January 1 and July 1, use the authoritative IBTE balances immediately before collection. All taxes due at that cutoff and requiring the same balance, including DATS assessments, shall use the same versioned pre-collection snapshot.

BBTS shall match each account to its lawful owner, account class, fund designation, scope ground, and exemptions. A Section 3 assessment shall identify the account and its taxable balance and apply the exclusions in that Section. For Section 5, use the National Organizations Administration's authoritative registration or recognition status and category; combine the organization's positive covered balances, count the same funds once, and exclude money legally belonging to another owner. Retain each included or excluded account, its snapshot balance and exclusion reason, the organization identifier, and the combined taxable balance.

Apply the applicable marginal schedule once to the taxable assessment balance and collect under ATCS. A Section 3 debit shall be directed to the assessed account. For Section 5, apportion the organization's debit among its included accounts in proportion to their taxable positive balances; round each allocation down to 0.01 SL and allocate the remaining cents in ascending account-identifier order. Retain the allocation and each resulting debit and fund credit. Collection remains subject to lawful account restrictions and this Section's unpaid-balance rules.

Dormant Account Tax System (DATS)

The Dormant Account Tax System (DATS) shall determine eligibility and assess the tax under Section 4. The collection cutoff shall be 00:00 UTC on January 1 or July 1. The review interval shall include its opening timestamp and exclude the collection cutoff.

DATS shall examine the authoritative IBTE record of incoming and outgoing settled payments for each covered account during the review interval. It shall identify the lawful owner, relevant counterparties, payment purpose and linked records, exclude the transactions disallowed by Section 4, and calculate aggregate genuine economic activity without double-counting linked or circular transfers. Assigned UBI shall be excluded only where the transaction identifier, beneficiary, and amount match the official disbursement record under Title 5, Chapter 6. Compare qualifying activity with the greater of 100 SL and 0.1% of the account's taxable pre-collection balance. Materially incomplete or conflicting source records shall produce an unresolved status, not a finding of dormancy, and collection for that account shall await resolution.

For an eligible account, DATS shall apply the operative marginal schedule to the taxable pre-collection balance, subject to Section 9. Retain the account and owner identifiers, review boundaries, source-record versions and completeness status, incoming and outgoing transaction identifiers, amounts, purposes and posting times, matched UBI disbursement references, qualifying and excluded transactions and reasons, the activity total and applicable threshold, eligibility decision and reasons, balance snapshot, and linked assessment and collection records. Identify each assessment by account, tax, and collection date; retries and corrections shall remain linked to that assessment and shall not cause duplicate collection.

Property Tax System (PTS)

The Property Tax System (PTS) shall assess and collect the tax under Section 7. At 00:00 UTC on January 1 and July 1, match each parcel to its liable owner and the effective lawful assessed value, use classification, exemptions, and territorial records. The National Land Administration and Office of Territorial Administration shall supply the authoritative records and their versions and effective times. A missing or conflicting material assessment fact shall be marked unresolved for correction.

Calculate the marginal tax once on the whole parcel under Section 7, then divide it into the National, Subnational, and Local Components and attribute the latter components under Articles 4 and 5. Missing recipients and disputed or suspended attribution shall retain the classifications required by Articles 4 to 7. Retain the valuation, classification and exemption decisions, territorial-record version, jurisdictional fractions, component amounts, recipient identifiers, and attribution status.

PTS shall collect under ATCS from the liable owner's designated eligible collection account. Absent a designation, use that owner's eligible IBTE accounts in ascending account-identifier order until the amount due is collected or available funds are exhausted. An eligible account must be legally owned by the liable owner and lawfully available to satisfy the tax. Record the collection account, instruction, settlement result, and unpaid remainder against the parcel assessment.

Credit settled receipts to the Central Taxation Fund and link the assessment and every payment to the Property Tax Attribution Identifier, Tax Collection Identifier, and parcel identifier. Keep assessed, collected, attributed, released, and unpaid amounts distinct. Component and jurisdictional allocations shall reconcile exactly to the corresponding assessed or collected total; retain and carry rounding remainders across partial collections. Preserve parcel-successor links and attribution corrections under Article 5. Subnational and local releases shall require the authorization under Article 6 and shall be executed through the Treasury Operations Administration and IBTE.

Settlement, Failed Collections and Recovery

Link each debit, receipt, and fund credit and reconcile them against IBTE settlement records. A retry or interrupted process shall not duplicate an assessment or collection. An unpaid amount shall not be recorded as revenue received or funded by creating currency, a loan, an overdraft, or an unauthorized transfer. Handle unpaid liability under applicable collection law.

Tax Impact Estimator (TIE): Public Page and API

The Tax Impact Estimator (TIE) shall be freely accessible through the official digital services of the Totemian Empire. It shall provide separate estimates for every tax established by this Article. Users shall be able to enter their own amounts, relevant classifications and exemption assumptions, collection dates, and payroll earning intervals without signing in.

Results shall show the taxable amount, tax within each marginal bracket, total tax, marginal and effective rates, and resulting net pay or remaining bank balance where applicable. Provide interactive graphs, accompanying tables, and side-by-side scenarios showing changes in tax and retained amounts in SL and percentage terms as the inputs change. Show combined tax burdens where applicable and the National, Subnational, and Local Components of property tax.

TIE shall use the same operative rules, versioned schedules, eligibility conditions, interval conversions, and rounding as PRCS, BBTS, DATS, and PTS. Each result shall identify its inputs, assumptions, relevant dates or periods, and rule version. Projections shall state their assumptions. An unavailable schedule or unresolved required input shall be identified rather than represented as a zero-tax result. Estimation requests shall be read-only and shall not initiate assessment, collection, or payment.

The service shall provide a secure public application programming interface (API) for submitting scenarios and retrieving structured estimates and comparisons. API clients, automated bots, and large language model (LLM) assistants shall be able to use it programmatically without browser automation or manual interaction, subject to the security requirements below. The public page and API shall produce consistent results for the same inputs and rule version.

API Security Standard: OWASP ASVS

TIE’s public page and API shall meet all applicable Level 1 and Level 2 requirements of the OWASP Application Security Verification Standard (ASVS), version 5.0.0. The authorized technical maintainers shall verify conformity before public deployment and after material security changes, retain the verification results, and remedy identified security defects.

The public estimation service shall operate with least-privilege permissions and be isolated from administrative functions. It shall have no permission to alter authoritative tax rules, rates, brackets, exemptions, schedules, assessments, collection instructions, or bank records. Scenario inputs shall not override the authoritative rules used for calculations. Administrative changes shall require a separate authenticated and authorized process, with server-side permission checks and multifactor authentication for privileged access.

The service shall enforce encrypted communications, server-side input validation, request and resource limits, and error handling that does not expose credentials or confidential records. Security-relevant events and privileged changes shall be recorded in access-controlled audit logs under TALS, protected against unauthorized alteration. Public estimation access shall not expose another person’s private tax or bank records.

Tax Reporting and Technical Procedures

The official digital services shall display separate totals for each tax in this Article and the component, governmental, and status breakdowns required by Article 2. It shall preserve attribution ownership and the required charts and expandable governmental totals. The Ministry of Finance may prescribe technical procedures, notices, and recovery from system failure by Policy Order, without changing statutory rates, brackets, exemptions, scope, or collection dates.

Section 2. Title 5, Chapter 5, Article 1, of the Civil Code of the Totemian Empire is amended to read:

Article 1: Complete Tax Exemption

Section 1: Exempt Persons

While lawfully holding ~~the~~ a qualifying title or possessing a qualifying Imperial Family status under this Section, the following persons shall be exempt from every form of taxation:

(a) the reigning Monarch, whether styled Emperor or Empress;

(b) the Caesarevich of Totemia;

(d) a Princess;

~~(e) a King; and~~

~~(f) a Queen.~~

(e) any lawful son or daughter of the reigning Monarch, whether or not holding a royal title;

(f) the reigning Monarch's lawful consort, including the Queen consort of Omnislavia, Empress consort of all the Totemias, or Imperial Consort;

(g) a King or Queen lawfully holding the Crown of Omnislavia; and

(h) a King or Queen expressly recognized by Imperial Order as a member of the Imperial Family.

A King or Queen of another Kingdom, including a constituent Kingdom of the Totemian Empire, shall not be exempt merely by holding that crown. Such a person shall be taxable unless independently qualifying under paragraphs (a), (b), (e), (f), (g), or (h). Holding an additional title of Prince or Princess shall not circumvent this limitation. The Crown of Omnislavia and a family relationship or recognition under this Section must be established by lawful title, family records, or an express Imperial Order, as applicable.

Section 2: Scope

The exemption is complete and applies to every tax, levy, duty, excise, withholding, assessment, or other compulsory public imposition of a taxing nature, regardless of tax base, source, or level of government.

No state organ, subnational government, local government, or other public authority shall assess, withhold, charge, collect, or enforce such taxation against a person exempt under Section 1.

Section 3: Separate Legal Persons

The exemption is personal and does not extend to a corporation, organization, partnership, trust, or other separate legal person merely because it is owned or controlled by an exempt person.

Section 4: Duration

The exemption applies while the qualifying title is lawfully held or the qualifying Imperial Family relationship or status continues.

A tax liability arising during the exempt period shall remain exempt after the qualifying title, relationship, or status ceases.

Chapter 2 - Property Tax Calculation and Attribution

Section 3. Title 5, Chapter 7, Article 4, Section 3, of the Civil Code of the Totemian Empire is amended to read:

Section 3: Jurisdictional Assessed Value

~~The National Component shall apply to the taxable assessed value of the whole parcel.~~

The National, Subnational, and Local Components shall follow the imposing instrument's rates or formulas. For a combined marginal schedule, calculate the tax on the whole parcel's taxable assessed value, divide it into components, and then attribute the Subnational and Local Components. Brackets shall not restart for a component or jurisdictional portion.

~~The Subnational and Local Components shall be calculated from the portion of taxable assessed value attributable to each applicable subnational government or locality.~~

Where the instrument prescribes separate component schedules, apply each to the whole parcel's taxable assessed value before dividing the resulting Subnational or Local Component among jurisdictions.

Land value shall be divided according to the percentage of parcel area lying within each applicable jurisdiction. Where an improvement has a separately recorded value and reliable location, its value shall be attributed according to its physical footprint. An improvement crossing a boundary shall be divided according to the percentage of its footprint within each jurisdiction. Where reliable improvement-location data is unavailable, the parcel-area percentages shall apply.

Each jurisdiction's share equals its attributed taxable assessed value divided by the whole parcel's taxable assessed value. Apply that fraction to the relevant component. Portions outside every recognized jurisdiction at that tier retain their share under Section 4.

At each governmental tier, the same physical area shall be counted only once.

Section 4. Title 5, Chapter 7, Article 4, Section 4, of the Civil Code of the Totemian Empire is amended to read:

~~Section 4: Parcels Crossing Multiple Boundaries~~

Section 4: Boundaries and Unassigned Attribution

Where a parcel lies within more than one subnational government or more than one locality, the system shall calculate the percentage of the parcel lying within each lawful boundary and divide the applicable Subnational or Local Component accordingly.

Where a parcel lies within more than one subnational government or more than one locality, the system shall determine each jurisdiction's share of taxable assessed value under Section 3 and divide the applicable Subnational or Local Component accordingly.

Where governmental boundaries themselves overlap or conflict so that the same area is lawfully unresolved between two or more governments, the amount attributable to the disputed area shall remain in the Central Taxation Fund as Disputed Attribution until the competent authority resolves the boundary. The same area shall not be taxed twice at the same tier merely because of the conflict.

Where part or all of a parcel lies outside every recognized subnational government, its Subnational Component shall remain in the Central Taxation Fund as Unassigned Subnational Attribution.

Where part of a parcel lies outside every recognized locality, the Local Component attributable to that portion shall remain in the Central Taxation Fund as Unassigned Local Attribution. It shall not become national or subnational revenue by default.

Unassigned Subnational Attribution and Unassigned Local Attribution shall be recorded separately and reserved for their respective tiers, unavailable for national expenditure or release to an unentitled government.

An incomplete record, unresolved boundary, or entitlement dispute shall not establish that land lies outside every recognized jurisdiction. Preserve the affected amount under the applicable disputed or suspended status until the authoritative record or competent authority resolves it.

Section 5. Title 5, Chapter 7, Article 5, Section 4, of the Civil Code of the Totemian Empire is amended by adding the following paragraph at its end:

Where a lawful boundary change places a previously unassigned parcel portion within a recognized subnational government or locality, the corresponding unreleased Unassigned Subnational Attribution or Unassigned Local Attribution shall be reattributed to that government in accordance with this Section. The reattribution shall affect only the relevant tier and portion, preserve the original assessment and audit history, and remain subject to Article 6 before release. It shall not change the taxpayer's completed liability.

Chapter 3 - Tax Code Scope

Section 6. Title 5, Chapter 7, Article 1, Section 2, of the Civil Code of the Totemian Empire is amended by deleting its first paragraph:

~~This Chapter does not itself impose a property tax or any other tax. It governs collection, custody, attribution, and release when a tax is lawfully in force.~~

Chapter 4 - Public Monetary Advances and Settlement

Section 7. Title 2, Chapter 20 of the Civil Code is amended by inserting Articles 16 through 18 immediately after Article 15 and before Chapter 21, to read:

Article 16: Public Monetary Advances and Settlement

Section 1: Authority and Purpose

IBTE may issue SL to the Ministry of Finance through a Public Monetary Advance (PMA), subject to this Article, lawful expenditure authority, and a recorded release decision of the Governor made with the advice of the Monetary Policy Committee.

The framework recognizes the Totemian Empire's single domestic currency, centralized banking system, absence of dependence on foreign-currency financing, and infinite state material resources. Government material supply shall be distinguished from public monetary holdings and the lawful fiscal resources available for settlement. Financing decisions shall use the statutory issuance limits and the monetary and fiscal records actually maintained under this Code.

The Ministry of Finance may incur the debt arising from a PMA under this Article. Each PMA shall bear interest at 0% and remain a public-debt obligation until repaid under its terms or discharged by statutory settlement under Section 5. The Ministry shall register it under Title 2, Chapter 17, Article 4.

For this Article, a day is a continuous 24-hour period measured from the relevant recorded event.

Section 2: Monetary Expansion Ceiling

The initial Monetary Review Period shall run for 90 days from commencement of this Article. Before the first issue, IBTE shall certify the opening outstanding currency stock immediately before commencement and publish its measurement time, scope, reconciliation, and record version. That certified amount is the Reference Stock for the period.

For each further Monetary Review Period lawfully established, IBTE shall certify the outstanding stock immediately before that period begins using the same measurement and publication requirements. The new period and its Reference Stock shall not take effect merely by administrative certification.

The opening stock shall include all lawfully issued SL remaining outstanding, including government and non-government holdings, restricted balances, and genuine settlement or clearing balances, counting each holding once. Undrawn credit, loan receivables, duplicate representations, and the non-spendable Issuance Account shall be excluded.

Except under a Scheduled Monetary Expansion Programme authorized under Section 11 or Article 18, gross new currency issued during the period shall not exceed 80% of the Reference Stock, and outstanding currency shall not exceed 180% of that stock. Every monetary issue, including material conversion and credit creation, shall count against the applicable ceilings. Percentage limits shall be rounded down to 0.01 SL. A zero Reference Stock shall provide no issuance capacity under this Article. Capacity reserved for an accepted transaction shall remain unavailable for another issue.

Transfers, deposits, settlement, discharge of a PMA, return of a deposit, and certification shall not renew an issuance allowance. An actual withdrawal shall not restore the gross issuance allowance. A further Monetary Review Period or changed Reference Stock shall require an Act of Parliament or Imperial Order following a published review of the recorded currency stock, issues, withdrawals, Treasury resources, and existing obligations; a Banking Council Order or administrative reclassification shall not reset either. Where no Monetary Review Period or programme under this Article remains in force, further issuance shall await the authority establishing a further period or programme.

Section 3: Release Conditions

The Ministry shall identify the amount, lawful recipient fund or fund classification, expenditure authority, intended use, eligible settlement resources, and expected payment and receipt flows. The authorizing instrument may designate the recipient; otherwise MOF shall record its lawful allocation. The Governor shall record the release amount, timing, conditions, remaining monetary capacity, and principal findings supporting the decision.

Before a release, the Governor shall consider the verified outstanding currency stock, available issuance capacity, eligible Ministry settlement resources, recorded public payments and receipts, and existing monetary commitments.

Except for a Contingency Monetary Expansion Programme governed by Article 18, a release shall not exceed the smallest of the remaining statutory issuance capacity, the amount lawfully authorized for the program, and the verified unencumbered settlement resources available to the Ministry at the cycle opening. The full ceiling shall not create an entitlement to a release.

Section 4: Eligible Settlement Deposit

Each PMA shall have a unique Cycle Identifier and an opening ledger sequence fixed before its issue. Within 7 days after issue, the Ministry shall place eligible existing money equal to the advance in the Monetary Settlement Fund established by Title 2, Chapter 17, Article 3, Section 7. IBTE shall restrict that amount for the identified cycle.

The deposit shall consist of money lawfully owned and available to MOF whose recorded sources were created at least 14 days before the cycle opening and had been settled for at least 7 days before that opening. Verified legacy sources may qualify where the opening reconciliation establishes those facts. It shall exclude the current cycle's issuance, unsettled or insufficiently aged sources, another person's money, and money restricted or committed to another lawful purpose.

Money from a completed earlier cycle may qualify for a later cycle subject to the age and settlement requirements in the preceding paragraph. Transfers through another account, person, shop, tax payment, refund, or public fund shall preserve source ancestry and shall not make an otherwise ineligible source eligible.

IBTE shall reserve each eligible amount for only 1 active cycle. The settlement deposit shall remain money owned by the Ministry, held under statutory restriction. It shall create neither a second account balance nor revenue or profit of IBTE.

Section 5: Settlement and Return

The full eligible deposit shall remain continuously reserved for 5 days. MOF shall certify lawful ownership, fiscal authority, and availability. IBTE shall certify source eligibility, the banking record, the holding period, and compliance with monetary limits. Verification and the settlement event shall be completed no later than 7 days after the full deposit was reserved, unless a specific failed condition is recorded. An unresolved condition shall leave the advance and deposit recorded as pending.

Certification is an authenticated approval of identified facts and linked evidence in the digital workspace. The Minister and Governor may assign routine factual certification to authorized officers within their respective institutions under recorded delegations. Automated checks may supply the evidence and execute an approved instruction when its objective conditions are met. A delegation or standing approval shall identify its scope, conditions, and responsible officer. The Governor shall retain the monetary release decision; routine settlement shall not require a new monetary-policy report.

Certification shall authorize a single settlement event. On execution, any remaining PMA principal shall be discharged by a monetary allocation equal to that remaining principal expressly authorized by this Section. IBTE shall record the discharge and its capital or equity effect. The Public Debt Register shall record settlement by monetary allocation separately from principal repaid in money.

In that same event, IBTE shall remove the settlement restriction and return the deposited existing money to its recorded originating funds. The return shall use the existing balance, create no new SL, and retain its source history. The advance's issuance shall become settled from that event; its original issuance amount, date, and source shall remain recorded. Certification alone shall not mark the debt discharged, deposit returned, or issuance settled before execution.

No SL shall be destroyed solely by the deposit, statutory discharge, certification, or return under this Section.

Section 6: Further Cycles and Unresolved Advances

A further PMA, including a Structured Monetary Tranche, shall begin no earlier than 14 days after the preceding release and only after its full settlement and deposit return. Only 1 cycle may remain unsettled at a time. A completed cycle shall not reset an issuance ceiling, Reference Stock, or programme authority. Article 18 shall govern the release interval within a Contingency Monetary Expansion Programme.

An unmet deposit deadline or failed settlement condition shall suspend further releases under this Article. Any principal not lawfully repaid or discharged shall remain outstanding. The original terms shall make an unsettled advance due no later than 30 days after issue. The Ministry and IBTE shall record any lawful repayment or restructuring without treating it as completed statutory settlement. Certification shall not be inferred from the passage of time.

Section 7: Source Record and Currency Equality

IBTE shall maintain the Monetary Source and Settlement Record under Title 5, Chapter 10. A source or settlement classification shall determine eligibility under this Article, not the face value of SL.

All lawfully issued SL shall remain equally acceptable for public payments denominated in SL. A current-cycle source shall remain spendable under its lawful expenditure authority while its PMA settlement remains pending.

Section 8: Authority and Accounting Separation

The Ministry of Finance shall determine financing requests, lawful fiscal use, fund allocations, eligible unencumbered settlement resources, and public-debt administration under Chapter 17. TOA shall maintain the fiscal records, submit authorized Treasury instructions, and reconcile completed banking events with MOF's fund records and Public Debt Register.

The Governor shall determine monetary release amounts and timing with the advice of the Monetary Policy Committee under Articles 5 and 6. IBTE shall originate credit, issue currency, maintain authoritative banking and source records, restrict deposits, and execute approved settlement events and returns. Its Banking Operations Office and Credit Administration Office shall prepare routine checks, records, and settlements under Article 10. A release decision may adopt a system-generated statement and refer to an existing assessment, recording material changes rather than duplicating unchanged evidence.

CRA shall administer public-revenue assessments, collections, and receipt records within Chapter 19 and Title 5, Chapter 7. Receipt of a tax or shop payment shall not itself certify a PMA settlement.

A fiscal notice, dashboard entry, recorded obligation, or source classification shall confer no independent issue, expenditure, transfer, or debt-discharge authority. The Issuance Account shall remain non-spendable under Article 7.

Section 9: Review and Reporting

MOF and IBTE shall publish monthly reconciled statements of the opening stock, gross issues by source, actual withdrawals, outstanding stock, issuance allowance used and reserved, PMAs, eligible deposits held, debt discharged by allocation, deposits returned, and earliest lawful dates for further cycles.

Each release and settlement shall identify its legal authority and corresponding banking events. The records shall preserve failed, corrected, and reversed events without duplicating currency, settlement resources, or obligations.

Section 10: Banking Instruments

The Imperial Banking Council shall establish generally applicable banking and source-record requirements under Articles 1 and 10. The Governor shall implement internal technical procedures, and MOF shall prescribe fiscal instructions and reconciliation under Chapter 17. Existing lawful continuity instruments shall operate within the limits of Articles 1 and 10.

A subordinate instrument shall not alter the statutory ceilings, programme limits, review period, interest rate, deposit amount, source eligibility, holding period, cycle interval, or conditions for discharge and return.

Section 11: Scheduled Monetary Expansion Programmes

An Act of Parliament or Imperial Order may establish a Scheduled Monetary Expansion Programme (SMEP), other than a Contingency Monetary Expansion Programme, by specifying a positive financing amount in whole 0.01 SL units and its lawful fiscal purpose. The applicable programme class, tranche limits, settlement terms, and calculation rules in this Article shall apply without needing to reproduce them in the authorizing instrument.

Except for a Contingency Monetary Expansion Programme authorized under Article 18, the programme shall be classified by its approved financing amount relative to the current Monetary Review Period's certified Reference Stock:

(a) a Standard Monetary Expansion Programme (Standard Programme), for an amount not exceeding 80% of the Reference Stock and within the ordinary allowance remaining after gross issues and binding reservations for other issuance, ending no later than the current Monetary Review Period;

(b) an Extended Monetary Expansion Programme (Extended Programme), for an amount not eligible for a Standard Programme but not exceeding 400% of the Reference Stock, with a maximum term of 90 days; or

(c) a Major Monetary Expansion Programme (Major Programme), for an amount exceeding 400% but not exceeding 1,500% of the Reference Stock, with a maximum term of 280 days.

Only 1 SMEP may be active at a time. A Ministry request, budget entry, credit agreement, or IBTE decision alone shall not establish it. Approval shall authorize undrawn financing subject to release conditions; it shall not issue the full amount. The programme term shall begin when its authorizing instrument takes legal effect. Its expiry shall be the earlier of any expressly fixed expiry and the end of its class's maximum term. Activation, a delayed first draw, or a revised schedule shall not restart that term.

Section 12: Programme Issuance Ceilings

A Standard Programme shall remain subject to Section 2's ordinary gross-issuance and outstanding-stock ceilings. At authorization of an Extended or Major Programme, IBTE shall fix the carried-forward gross issuance made since the current review period began. The Other Issuance Allowance shall equal 80% of the Reference Stock, rounded down to 0.01 SL, less that carried-forward issuance, with a minimum of zero. It shall include, rather than be additional to, outstanding reservations for other issuance.

For an Extended or Major Programme, the Combined Issuance Ceiling shall equal the carried-forward gross issuance plus the approved programme financing amount plus the Other Issuance Allowance. Programme issues shall not exceed the approved financing amount; subsequent non-programme issues shall not exceed the Other Issuance Allowance. Every actual issue shall be charged once to its applicable allowance and to the combined and rolling ceilings. Unused capacity in either allowance shall not be transferred to the other administratively.

The authorizing instrument shall retain the current Reference Stock for the programme's full term. For an Extended or Major Programme, outstanding currency shall not exceed that stock plus the Combined Issuance Ceiling. Expiry of the ordinary review period shall not reset programme limits. Additional non-programme allowance or financing above the applicable class limit shall require an express amendment by Act of Parliament or Imperial Order.

Section 13: Structured Monetary Tranches

Each programme draw shall be a Structured Monetary Tranche (SMT), constituting a PMA under this Article. Its standard tranche amount shall be the lesser of 80% of the Reference Stock and eligible unencumbered MOF settlement money certified at programme activation, rounded down to 0.01 SL. A tranche shall also remain within undrawn programme authority, applicable monetary capacity, and settlement resources available at its own opening.

During any SMEP, ordinary PMA releases shall not run in parallel with programme tranches.

During any SMEP, aggregate gross new issuance from every source in any rolling 14-day period shall not exceed 80% of the same Reference Stock. The period ends at the proposed issue and begins immediately after the instant 14 days earlier. Capacity reserved for accepted conversions and other binding issuance commitments shall be included in release planning.

Sections 3 through 10 shall apply to every tranche. A programme tranche's full eligible existing-money deposit shall be reserved at release. Its continuous 5-day hold shall run from that release. Final verification, certification, discharge, and return shall be completed by the end of day 7 unless a specific failed condition is recorded. No later release shall occur until that failure is resolved and the preceding return completed.

Section 14: Programme Review and Closure

Before each tranche, the Governor shall approve the proposed release amount and timing with the advice of the Monetary Policy Committee, using the current monetary ceilings, outstanding issuance and reservations, verified settlement resources, and relevant recorded Treasury transactions. IBTE staff may prepare a system-generated statement and identify changes since the preceding decision. The Governor may reduce or defer a release where a statutory condition is unmet or other specific information actually available supports that decision; the reasons and next review date, no later than 7 days afterward, shall be recorded.

MOF and IBTE shall make the programme's current status available through the linked official financial records, distinguishing authorized, issued, reserved, deposited, returned, discharged, and undrawn amounts as recorded. Increasing financing, changing the Reference Stock, or extending the maximum term shall require an Act of Parliament or Imperial Order.

A programme shall close automatically when its full authorized amount has been issued and every related advance, deposit, and return has been resolved and every binding issuance reservation under the programme has been completed or lawfully released. IBTE and MOF shall record and publish closure without awaiting the maximum term. Expiry shall terminate undrawn programme authority; existing obligations, deposits, and required returns shall continue under their recorded terms. A further ordinary period or programme shall require fresh authority under this Article and a published review. Closure shall not itself rebase the Reference Stock or renew capacity.

Section 15: Automatic Programme Schedule

Before activation, MOF and IBTE shall publish a Programme Schedule showing the applicable class, financing amount, Reference Stock, certified settlement resources, tranche amount, number of tranches, first permissible release, each planned release and return date, final tranche, expiry, and applicable ceilings and reservations. It shall distinguish the approved financing amount from currency actually issued. No programme shall activate with a zero tranche amount.

For the initial schedule, the number of tranches shall be the approved financing amount divided by the standard tranche amount, rounded up to the next whole number. Every tranche except the last shall equal the standard amount. The last shall equal the financing amount less those earlier scheduled tranches.

For a revised schedule, the remaining financing amount shall equal the approved amount less gross programme currency actually issued. The same calculation shall be applied to that remaining amount using the unchanged standard tranche amount. If the remaining amount is zero, no further tranche shall be scheduled. Debt discharge, principal repayment, a withdrawal, or deposit return shall not restore programme financing authority.

The first release date shall satisfy Section 6 and available monetary capacity, including issues made before programme authorization that fall within the rolling window. Each later planned release shall be on the earliest date at least 14 days after the preceding planned release consistent with known binding reservations and monetary limits. Each tranche shall show an equal settlement deposit at release, a scheduled return 5 days later, and a completion deadline 7 days later.

If a release is delayed, reduced, or affected by other issuance, the system shall recalculate remaining amounts and earliest lawful dates from actual events, preserving the original schedule and each revision. The maximum permitted release shall be the least of the standard tranche amount, remaining programme financing, eligible settlement money then available, and capacity available to that release under every applicable monetary ceiling, including any reservation already assigned to it. A monetary decision may approve a smaller release or defer it. A later release shall remain at least 14 days after the actual preceding release and shall satisfy the completed-return condition.

The schedule shall state separately any eligible deposit shortfall, reserved capacity for other issuance, expiry risk, or monetary deferral. An amount that cannot be released within the authorized term shall remain undrawn unless further legislative authority is obtained. A schedule shall not record a future deposit, return, or issue as already completed.

Article 17: Scheduled Monetary Programme Authorizations

Section 1: Statutory Programme Entries

An Act establishing a Scheduled Monetary Expansion Programme shall insert its authorization as an additional numbered Section of this Article. The entry shall identify the programme, positive financing amount, and lawful fiscal purpose, and shall apply Article 16. It may designate the recipient fund or classification, a shorter term, or more restrictive conditions. A Contingency Monetary Expansion Programme shall be established by a voter-approved legislative entry complying with Article 18.

MOF shall link the authorization to its Programme Schedule and Public Debt Register. Draws, deposits, discharges, returns, and schedule revisions shall be recorded in the authorized fiscal and banking systems; their execution shall not require repeated amendment of the authorization entry.

Article 18: Contingency Monetary Expansion Programmes

Section 1: Qualifying Crisis and Voter Authorization

A Contingency Monetary Expansion Programme (CMEP) is a special Scheduled Monetary Expansion Programme for a serious actual or imminent disruption of essential public services, national defense, public safety, or the centralized monetary and payment system where the ordinary financing timetable would materially aggravate the harm. A routine desire to increase government holdings or ordinary recurring expenditure shall not alone establish the qualifying crisis.

A CMEP shall be established only by a legislative authorization approved by public referendum under Article 20 of the Constitution and recorded as an additional numbered Section of Article 17. The proposal shall identify the crisis, lawful fiscal purpose, positive financing amount, and the findings supporting use of this Article, including any existing programme authority it proposes to replace. Parliament may refer it through a Parliamentary Referendum Resolution; a qualified citizen petition may use the constitutional petition procedure. Referral, a declaration, or an administrative approval shall not authorize issuance before certification of voter approval.

The National Electoral Administration shall conduct and certify the vote under the constitutional procedures for an ordinary-law proposition. Approval shall require at least 60% of valid votes cast IN FAVOR or AGAINST. The approved authorization shall use the constitutional public-referendum enacting clause. The Governor shall retain the release assessment; voter approval shall establish a maximum authorization rather than compel every draw.

Article 16 shall apply except where this Article expressly replaces its programme classification, reference-stock and ceiling rules, tranche calculation, deposit amount, source ages, hold, release interval, or term. This Article shall not be activated by an Emergency Banking Direction or a staffing-continuity instrument.

Section 2: Fixed Stock and Aggregate Limits

Before the proposition is qualified for its voting timetable, IBTE shall record an opening ledger cutoff on receiving the complete proposal for stock certification and certify the reconciled national outstanding-currency stock at that cutoff, using Article 16, Section 2's coverage and publication requirements. That amount is the Contingency Reference Stock. It shall be published with the proposal and remain fixed for the programme. A zero stock shall provide no capacity.

The programme financing amount shall not exceed 200 times the Contingency Reference Stock. Programme issues shall not exceed the financing amount approved by voters. Aggregate gross issuance from all sources after the certified cutoff and before programme closure or expiry shall not exceed 200 times that stock, and outstanding currency shall not exceed 201 times that stock while the programme operates. Issues made after the cutoff but before voter certification shall count against remaining capacity. Actual withdrawals, deposits, returns, and debt discharge shall not restore the gross allowance. Activation shall be withheld where the verified record cannot satisfy these ceilings.

Each Contingency Structured Monetary Tranche shall not exceed 40 times the fixed stock. Aggregate gross issuance from all sources within any rolling 48-hour window ending at an issue shall not exceed 40 times that stock. The window shall exclude the instant exactly 48 hours earlier and include the proposed issue.

These limits shall replace Article 16's ordinary and programme combined, outstanding-stock, and rolling ceilings for CMEP draws. Other issuance shall retain its independent legal authority and any stricter applicable ceiling, and shall count toward this Article's all-source limits. The Other Issuance Allowance shall not enlarge this Article's limits. Binding reservations for other issues shall reduce capacity available to a CMEP draw.

Section 3: Tranches and Existing-Money Deposits

Each draw is a Contingency Structured Monetary Tranche (CSMT) and a PMA under Article 16. For each draw, the maximum amount shall be the least of remaining voter-approved financing, 40 times the fixed stock, 4 times MOF's then-available eligible unencumbered settlement money, and capacity available under every applicable monetary ceiling. The amount shall be calculated anew from actual records; an earlier draw shall not increase the fixed stock or the 40-times limit.

At release, IBTE shall reserve a deposit equal to 25% of the draw in the Monetary Settlement Fund. The deposit shall be rounded upward to 0.01 SL. An incomplete or ineligible deposit shall prevent release.

Eligible sources must have been created at least 48 hours before the cycle opening and settled for at least 12 hours before that opening. Article 16's ownership, ancestry, exclusivity, and anti-circular-transfer requirements shall apply. Current-cycle money shall not support its own deposit. A source settled under this Article shall remain subject to Article 16's longer age requirements when used for an ordinary cycle.

The full required deposit shall remain continuously reserved for 24 hours. Verification, certification, statutory settlement, and return shall be completed within 36 hours after reservation unless a specific failed condition is recorded. Article 16, Section 5 shall govern the combined execution event, discharge of remaining principal, equity record, and return of the existing deposit. The 25% deposit shall not be recorded as cash repayment of the whole advance.

The first draw may occur after certified approval and the required fiscal and monetary decisions. Each later draw shall be at least 48 hours after the preceding PMA release and after the preceding settlement and deposit return. Only 1 cycle may remain unsettled. A preceding ordinary cycle shall complete under its original terms. A failed eligibility, integrity, deposit, or settlement condition shall suspend later draws.

Section 4: Decisions, Term, and Closure

The Governor shall approve each release with the advice of the Monetary Policy Committee, using the voter-approved authorization, the recorded crisis purpose, certified currency stock, remaining financing capacity, verified eligible deposits, and existing banking and Treasury records. The decision shall identify the amount, continuing lawful purpose, and any reduction or deferral. A deferred release shall receive a next review within 48 hours; unchanged evidence need not be recopied.

The drawing term shall begin on certification of voter approval and expire after 28 continuous 24-hour periods, or at an earlier expiry stated in the approved authorization. A draw shall occur before expiry. Administrative activation, scheduling, delay, or refinancing shall not restart the term. No CMEP shall operate in parallel with another programme or ordinary PMA.

When the qualifying need ends, further releases shall cease and the unused authorization shall lapse. Undrawn financing shall also lapse at expiry. Existing debt, deposits, certification duties, and returns shall continue under their recorded terms. Completed financing and settlement shall be closed and published without waiting for expiry.

A replacement, division, relabelling, or further authorization responding to the same or substantially related crisis shall use the original stock, opening cutoff, gross-issuance record, and original term. Increasing the approved financing or extending the term shall require a fresh voter-approved legislative amendment. The 200-times aggregate limit shall continue to apply unless a voter-approved measure expressly amends it.

Section 5: Programme Records and Automated Schedule

The MOF and IBTE workspaces shall link the crisis identifier, proposition and approved text, certified result, stock cutoff, approved amount, cumulative all-source issues, remaining capacity, source-aging profile, deposit requirement, hold, earliest release, and expiry. They shall use the existing Monetary Financing Fund, Monetary Settlement Fund, Public Debt Register, and source records without creating duplicate money or debt.

For a CMEP, the fixed-tranche and tranche-count calculations in Article 16, Section 15 shall be replaced by successive draws calculated under Section 3. The schedule shall calculate each maximum draw, deposit, scheduled return, completion deadline, remaining financing, and next lawful issue time from actual records. Forecasts may assume retention of earlier issues only where that assumption is disclosed; they shall not treat future receipts or settlements as completed. A change in available money, other issuance, a failed condition, or a monetary deferral shall recalculate the schedule within the original authority and term.

IBTE shall apply the Digital Monetary and Fiscal Accuracy Standard and retain the evidence and approval for each operation. Public summaries shall update from posted events and be reconciled at least every 7 days while the programme operates. Neither voter approval nor the crisis classification shall bypass source tracing, banking locks, exact accounting, access controls, or the applicable Imperial Market price adjustment.

Section 6: Proposition Wording and Financial Statement

The National Electoral Administration shall prepare the ballot under Title 2, Chapter 10, Article 3. Its official and descriptive titles and statements of effect shall identify the proposed financing amount and crisis purpose, 28-day or shorter term, 48-hour release interval, 25% refundable deposit, statutory debt-settlement method, and application of the Imperial Market pricing formula. The statements shall distinguish authorization from completed issuance and explain the legal result of rejection. The ballot shall state the calculated change in the minimum selling-price factor at full proposed issuance, using the existing pricing baseline, and identify assumptions about other issuance.

MOF and IBTE shall publish with the complete proposal a concise financial statement identifying the fixed stock and cutoff, maximum first draw from verified settlement resources, projected schedule and its assumptions, gross-issuance headroom, and price-factor calculation at full proposed issuance. Existing issues since the cutoff and known binding commitments shall be included. The published statement shall distinguish the refundable deposit from permanent principal repayment.

The ballot shall display the applicable approval threshold, certification and commencement conditions, referendum-law protection notice, and full-text link required by current law. The constitutional voting and publication timetable shall apply. Certification of approval shall be recorded before the banking system enables a CMEP release.

Chapter 5 - Digital Monetary and Fiscal Standards

Section 8. Title 5 of the Civil Code is amended by inserting the following new Chapter 10 after Chapter 8 and immediately before Title 6, to read:

Chapter 10 - Digital Monetary and Fiscal Records

Article 1: Administration and Common Records

Section 1: Official Digital Services

Public-finance administration required by this Code shall use the Totemian Empire's official digital services. Fiscal, monetary, banking, and reporting functions shall be integrated through linked records and coordinated MOF and IBTE workspaces. IBTE's centralized banking and account system shall provide authoritative balances and transactions.

MOF shall administer fiscal records, TOA shall submit and reconcile lawful fiscal instructions, and IBTE shall maintain authoritative monetary and banking records. The workspaces shall extend existing fund records and the Public Debt Register rather than create duplicate balances or obligations.

Section 2: Required Record Links

Every fund, obligation, monetary issue, PMA cycle, programme, tranche, source record, settlement deposit, certificate, and fiscal notice shall have a stable identifier. Linked records shall identify legal authority, lawful ownership, responsible organ, amount, source and destination, effective and posting times, banking event, status, and record version.

Funds shall identify their fiscal purpose, restrictions, commitments, expiration conditions, and lawful reversion destination where applicable. Implementation and reversion notices required by other law shall link the same records.

Section 3: Defined Classifications

The system shall distinguish:

(a) a monetary issue, withdrawal, correction, or opening-balance migration;

(b) an existing-money transfer, public payment, tax receipt, public sale receipt, refund, settlement deposit, deposit return, or reversion;

(c) principal repayment, interest payment, refinancing, restructuring, guarantee activation, and discharge by monetary allocation; and

(d) a source or owner reclassification that changes neither money nor debt by itself.

Obligation instruments shall distinguish a loan, credit facility, bond or other debt security, finance lease, and another legally repayable obligation. A PMA shall be identified as its own loan subtype. A guarantee shall be recorded as contingent exposure until lawfully called; its activation shall not count the same amount twice.

Each obligation shall separately record authorization, drawn principal, undrawn commitment, principal repaid, principal discharged by allocation or other legal release, interest accrued and paid, remaining principal, arrears, maturity, and contingent exposure. The general descriptions borrowing and credit shall not create additional totals for the same instrument.

Article 2: Monetary Source and Settlement Record

Section 1: Scope and Visibility

IBTE shall maintain an internal Monetary Source and Settlement Record linked to authoritative banking events. Authorized users shall receive through the official digital services the eligibility and reconciliation results necessary for their functions.

The record shall not appear as a separate currency or balance in an account holder's ordinary payment interface. Public reports shall contain aggregates and relevant public authorities without revealing another person's private transaction history. Lawful inspection and audit access shall be preserved.

Section 2: Source Lots and Eligibility

Each creation event shall establish a source record identifying the amount in 0.01 SL units, issuance authority, issuance category, original event, sequence, Cycle Identifier where applicable, and settlement status. A lawfully completed issue outside the PMA mechanism shall be treated as settled when posted for source-eligibility purposes. PMA issues shall remain pending until their statutory settlement event is executed. Neither classification shall alter the original issue time or make a later-created source predate a cycle opening.

Transfers shall allocate source amounts to the destination while preserving ancestry. Splits, merges, intermediate payments, refunds, and returns shall conserve each source amount. Mixing shall not create a new source or erase an existing one.

At a cycle opening, eligibility shall be fixed by the opening sequence and each source's settlement status then. A later certification shall not retroactively change eligibility for that cycle. A source may become eligible for a later cycle only under Title 2, Chapter 20, Article 16 or 18, as applicable.

Section 3: Reproducible Source Allocation

The technical designers shall select and document a consistent allocation method for mixed balances, partial transfers, deposits, refunds, and reversals. It shall conserve source amounts, preserve ancestry, restrict deposits to eligible sources, prevent reuse of reserved money, and yield reproducible results from the same records and rule version.

Refunds and reversals shall preserve the original transaction's source relationship. Rounding and residual allocation shall be defined in the technical profile. Rule changes shall be versioned and shall preserve an auditable account of prior decisions; a change shall not retrospectively make an ineligible deposit eligible.

Section 4: Opening Records and Uncertainty

Verified legacy balances may receive opening source lots supported by the authoritative opening reconciliation. The record shall identify their verified cutoff and any earlier history unavailable.

An unverified balance, missing source event, or unresolved ownership or reconciliation discrepancy shall remain unresolved and shall not be treated as eligible settlement resources. Uncertainty shall not by itself establish wrongdoing or erase a lawful account balance.

Section 5: Conservation

For every source lot, the original issue or verified opening amount shall equal its remaining allocations and actual withdrawals after linked reversals and corrections. Settlement reservations shall be portions of existing holdings, not additional holdings.

All source allocations for an account shall reconcile to its authoritative monetary balance. The same underlying amount shall not support 2 active deposits, an available balance and a separate held balance, or 2 holdings categories.

Article 3: Monetary History and Reconciliation

Section 1: Monetary Stock and Circulation

The system shall display separately:

(a) the opening outstanding stock;

(b) gross new currency issued by source;

(d) total outstanding currency;

(e) non-government holdings, with restricted and available amounts distinguished;

(f) government holdings by lawful owner and tier;

(g) PMA settlement deposits and other restricted public holdings; and

(h) actual payment activity and transaction volume.

Outstanding currency shall equal the opening stock plus subsequent issues minus actual withdrawals, with separately identified corrections. Government spending and receipts shall change holdings classifications without being described as currency creation or destruction unless the linked event actually has that effect.

Non-government holdings shall not be represented as transaction velocity, and transfer volume shall not be represented as production or GDP. A statistical velocity measure shall state its method, period, and economic-data inputs.

Section 2: Ownership Categories

Primary holdings categories shall be mutually exclusive and based on lawful ownership: national public bodies, subnational governments, local governments, individuals, commercial organizations, non-commercial organizations, IBTE's own spendable operating resources, and unresolved ownership.

Personal money of the Emperor or another titleholder shall remain individual money. Custody, a fund's display name, or system-account status shall not convert it into public money. Beneficially owned custody balances shall be attributed to their lawful owners and counted once.

Technical control accounts and the non-spendable Issuance Account shall be excluded from holdings totals. Genuine money in clearing or suspense shall remain counted under its owner or the unresolved category until resolved.

Section 3: Reconciliation Differences

At a common ledger cutoff, outstanding currency shall be reconciled with holdings in all lawful forms. The system shall display the difference, available explanation, responsible record, status, and correction history.

A discrepancy shall not be hidden by a balancing issue, invented receipt, silent deletion, or reclassification as currency backing. New PMA releases shall require a certified reconciled opening stock and source records sufficient for the intended settlement.

Section 4: Historical Series and Event Explanations

The system shall retain event-level history and daily closing snapshots in UTC. It shall provide selectable date ranges, daily, weekly and monthly views, period totals and changes, and comparable opening and closing values.

A change in currency stock or holdings shall be traceable to its constituent events. Charts shall identify monetary issues, public payroll and grants, public receipts, settlement deposits and returns, debt draws, repayments, and monetary discharges with their times, amounts, categories, legal authorities, and relevant public references.

The system shall provide both an event-time view of originally posted results and a corrected effective-time view, identifying revisions and data versions. Missing observations shall remain marked missing; charts shall not invent intermediate values or present an import jump as economic growth.

Article 4: Public Debt Register and Digital Workspace

Section 1: Minimum Workspace Functions

The official digital services shall provide linked views for funds, payment and transaction records, the Public Debt Register, monetary issuance and settlement, historical monetary records, and audit records.

Each view shall support search, filters by period, category, owner or public body where disclosure is lawful, legal authority, identifier and status, stable record links, and exports within the user's access rights. Summary cards, tables, charts, and exports shall use the same definition, ledger cutoff, and data version.

Section 2: Debt Information

The MOF debt and payment workspace shall display outstanding principal, undrawn facilities, interest due, arrears, contingent guarantees, and debt held by IBTE separately. It shall show historical draws, principal payments, other discharges, refinancing, remaining debt, contractual maturity, and each payment or deposit due on or before its specified date. TOA shall be able to enter a lawful obligation, assign a responsible officer, record its authority and due date, schedule an early or timely instruction, and reconcile its outcome with IBTE's posted events.

A debt counter shall use settled records and display its cutoff. It shall not simulate second-by-second growth unless a disclosed contractual accrual rule supports that calculation. The system shall provide a maturity calendar and projected debt-service amounts separately from completed payments.

Each scheduled item shall distinguish an instruction, reserved money, a pending transfer, a completed payment, an eligible settlement deposit, an interest payment, a cash principal repayment, a statutory monetary allocation, and a deposit return. A tax receipt, shop receipt, internal transfer, promise, or dashboard mark shall not reduce debt merely by being entered. Only the corresponding posted application or lawful discharge shall change the debt balance, and the same event shall count once.

MOF may place an eligible deposit before its deadline. The workspace shall calculate its hold and return timetable under Title 2, Chapter 20, Article 16 or 18, as applicable, beginning when the full required eligible deposit is reserved. Partial deposits shall show the remaining shortfall. Early performance shall not create additional currency, a bonus payment, renewed issuance authority, or a shorter applicable release interval.

Section 3: Monetary Information

IBTE's issuance and settlement workspace shall display the certified baseline, gross issuance, actual withdrawals, outstanding stock, all applicable ceilings, used and reserved capacity, remaining capacity, programme and cycle records, deposit eligibility, aging, holds, and completed discharges and returns. The issuance interface shall preview the maximum lawful amount, blocking reasons, earliest permissible issue, required deposit, return dates, and Imperial Market price adjustment. Only IBTE-authorized roles may approve or execute monetary actions.

Legacy labels suggesting a currency peg or resource backing shall be retained only where their legal basis and calculation are identified. A historical baseline shall be labelled as such. The system shall distinguish resource-conversion issuance from a promise to redeem SL into a resource.

Section 4: Administrative Controls and Public Access

The official digital services shall provide coordinated MOF and IBTE workspaces using the same authoritative event identifiers, amounts, cutoffs, and statuses. IBTE shall supply the banking and eligibility results needed by MOF; MOF shall supply lawful fiscal instructions and obligation records needed by IBTE. Permissions for preparation, fiscal authorization, monetary approval, execution, certification, and inspection shall be separate and checked against final particulars and record versions. MOF workspace permissions shall not confer IBTE issue or settlement-release privileges.

Public views shall provide aggregate monetary and debt history, source definitions, public legal authorities, and reconciled certificates. Private source tracing and restricted administrative records shall remain access-controlled. Public read APIs and exports shall have no authority to change balances or execute transactions.

Section 5: Accessibility and Display

Public views, forms, charts, and tables shall support keyboard operation, readable labels and contrast, and assistive technology. Charts shall have an equivalent accessible table and distinguishable series without reliance on color alone. The designers shall select and document the applicable accessibility standard and verification method.

SL amounts shall be shown to 0.01 SL. Every metric shall state its unit, stock or flow character, period or cutoff, coverage, data version, and whether it is actual, projected, provisional, corrected, or unresolved. Local-time displays shall identify their zone and preserve the underlying UTC time.

Article 5: Digital Monetary and Fiscal Accuracy Standard

Section 1: Monetary Accuracy

The requirements of this Article constitute the Digital Monetary and Fiscal Accuracy Standard (DMFAS). Authoritative balances, liabilities, and source allocations shall be exact to 0.01 SL. The system shall check lawful authority, available money, source eligibility, reservations, monetary capacity, and current approvals before execution. A complete financial operation shall take effect in full or leave no partial financial effect.

Concurrent operations, retries, interrupted connections, and recovery shall not duplicate currency, transfers, deposits, returns, debt, or discharge. The designers shall select the transaction, concurrency, and duplicate-prevention methods that satisfy these results.

Section 2: Audit and Recovery

Original financial events shall be retained with linked corrections and sufficient information to identify the actor or automated process, authority, amount, sequence, effective and posting times, reason, outcome, and rule version. Integrity controls shall make unauthorized alteration detectable.

Backups shall be access-controlled and restoration shall be tested. Recovered balances, obligations, source records, and restrictions shall be reconciled before affected monetary functions resume. Completed operations shall not acquire a second financial effect through recovery.

Section 3: Security, Access, and Interfaces

The system shall enforce least-privilege access, multifactor authentication for privileged users, transaction authorization against the final approved particulars, and separation of fiscal approval, monetary approval, execution, and inspection. Public interfaces shall expose no authority to change balances.

The designers shall choose suitable architecture, databases, source-allocation algorithms, cryptographic methods, interface formats, and security standards. They shall document the adopted controls, supported interfaces, access rules, and maintenance procedures in a versioned technical profile approved within MOF's and IBTE's respective jurisdictions.

Machine-readable exports shall identify exact amounts, units, stable record links, cutoffs, categories, and schema versions. Exports shall permit independent reconciliation without granting access to private records beyond lawful authority.

Section 4: Replicable Verification

Before issuance or settlement automation is enabled, the maintainers shall demonstrate monetary conservation, ceiling enforcement, source eligibility, deposit exclusivity, correct discharge and return, duplicate prevention, and recovery using versioned input records and expected results.

The demonstration shall include mixed balances, circular transfers, earlier and later cycles, refunds, concurrent requests, capacity exhaustion, failed operations, corrections, and missing history. The adopted method and permitted records shall enable an independent reviewer to reproduce the relevant balances, eligibility, debt status, capacity, and historical totals.

Material verification or reconciliation failures shall be resolved before the affected monetary function is enabled. Public examples shall use synthetic or lawfully disclosed records.

Section 5: Implementation Authority

MOF shall prescribe fiscal definitions, reports, and their connection to existing fiscal notices. IBTE shall establish generally applicable banking and monetary requirements by Banking Council Order and internal procedures under Title 2, Chapter 20, Article 10.

Within these requirements, the responsible digital systems designers may determine layouts, data structures, calculation methods, tools, and implementation sequence. Technical procedures shall not change legal ownership, monetary ceilings, source eligibility, settlement periods, debt terms, tax liabilities, or expenditure authority.

Section 6: Automated Calculations and Execution

The system may automatically calculate programme classes, issuance allowances, source eligibility, tranche amounts, planned dates, holding periods, reconciliations, and report drafts under the recorded rule version. It shall use actual posted events for completed amounts and identify forecasts and pending actions separately.

For PMAs and programme transactions, IBTE may automatically execute an issue, deposit restriction, certified settlement event, or deposit return when the required fiscal instruction, monetary decision, and any settlement certification have been recorded. Execution shall recheck available money, eligible sources, reservations, monetary limits, timing, and the approved particulars. A failed check shall stop that operation and record the reason for resolution by the responsible fiscal or IBTE officer.

The system shall prepare linked evidence and a concise exception list for monetary decisions and factual certifications. An authorized officer may certify by authenticated approval of that record. A pre-approved conditional instruction may execute when verified conditions are met. Failed, stale, or incomplete checks shall remain pending for the responsible officer. Routine tax collection shall continue under the Automatic Tax Collection Standard, reusing the Tax Audit Logging Standard and authoritative banking events without duplicate financial effects.

Chapter 6 - Conversion Capacity

Section 9. Title 1, Chapter 1, Article 9, Section 6 of the Civil Code is amended by adding the following paragraph at its end:

Before accepting materials for conversion, IBTE shall verify and reserve the monetary issuance capacity required by Title 2, Chapter 20, Article 16. Where capacity is unavailable, acceptance shall be deferred and the applicant notified. Reserved capacity for accepted materials shall remain unavailable for another issue until conversion is completed or the acceptance is lawfully reversed. All other conversion values, eligibility conditions, minimums, monthly limits, receipt, ownership, and storage requirements shall continue to apply.

Chapter 7 - Monetary Financing and Settlement Funds

Section 10. Title 2, Chapter 17, Article 3 of the Civil Code is amended by inserting Sections 6 and 7 immediately after Section 5 and before Article 4, to read:

Section 6: Monetary Financing Fund

The Ministry of Finance shall maintain a Monetary Financing Fund (MFF) to receive PMAs and Structured Monetary Tranches issued under Title 2, Chapter 20, Articles 16 and 18. Its records shall distinguish each cycle, programme, tranche, allocation, commitment, expenditure, and transfer.

MOF may allocate or transfer available money from the MFF to a lawfully designated public fund or fund classification under the applicable expenditure authority. An authorizing instrument may direct initial credit to that recipient instead, with the same linked financing records. Receipt of an advance shall not itself appropriate that money.

Section 7: Monetary Settlement Fund

The Ministry of Finance shall maintain a Monetary Settlement Fund (MSF) for existing-money deposits required by Title 2, Chapter 20, Articles 16 and 18. MOF shall own the money; IBTE shall administer its banking restrictions, verification, and return. Each deposit shall identify its originating fund and cycle.

An amount reserved in the MSF shall be unavailable for expenditure, reversion, withdrawal, or another deposit until lawfully released by IBTE. MOF, TOA, their personnel, and fiscal-system administrators shall have no authority to remove the banking restriction, compel an early return, or bypass it through a transfer, reclassification, reversal, fund closure, or permission change. Fiscal ownership shall not confer control of the banking lock. A superior legal direction or reviewable correction shall be executed and recorded by IBTE under its lawful authority.

On completed settlement, IBTE shall return the amount to its recorded originating fund or its lawful successor where that fund has ceased to exist. Deposit and return shall be recorded as movements of existing MOF money, not IBTE income, public revenue, or new issuance.

The MFF and MSF shall each begin with a zero balance and be funded only by recorded lawful operations. They may be maintained as distinct fund classifications under Section 5. Programme and tranche records shall not require a separate legal fund for each cycle.

Chapter 8 - IBTE Governance and Monetary Authority

Section 11. Title 2, Chapter 20, Article 1, Section 3 of the Civil Code is amended to read:

Section 3: Council Composition

There shall be an Imperial Banking Council of IBTE. The Council shall consist of:

(a) the Governor of IBTE;

(b) the Deputy Governor;

(c) ~~one additional Governor appointed by the Chancellor, hereinafter the Chancellor's Governor;~~ 1 Governor appointed by the Chancellor under Section 4;

(d) the Minister of Finance, who shall hold an ex officio voting seat and may designate the Deputy Minister of Finance to exercise that seat during the Minister's absence; ~~and~~

(e) the six Regional Governors established under Title 2, Chapter 20, Article 14, each of whom shall hold an ex officio voting seat by virtue of regional office.;

(f) 1 Governor appointed by Parliament under Section 27; and

(g) 1 Governor elected by the people under Section 28.

Section 12. Title 2, Chapter 20 of the Civil Code is amended as follows:

(a) Article 1, Section 4 is amended to read:

Section 4: ~~Chancellor's Governor~~Governor Appointed by the Chancellor

~~The Chancellor's Governor~~The Governor appointed by the Chancellor shall be appointed and removable at will by the Chancellor, subject to the Emperor's supreme authority to confirm, reject, suspend, or terminate the appointment, and shall have no fixed statutory term. The appointment shall terminate when the appointing Chancellor leaves office unless the succeeding Chancellor expressly reappoints the same person. A vacancy in ~~the Chancellor's seat~~that Council seat shall not prevent the Council from operating where quorum is otherwise present.

~~Appointment as the Chancellor's Governor~~Appointment to the Council seat under Section 3(c) shall not make that person the head or deputy head of IBTE and shall not give that person independent authority to issue Policy Orders, command IBTE personnel, determine monetary policy, direct a Regional Bank, approve a loan, or alter an account except through a lawful decision of the Council or a delegation made under this Chapter.

(b) Article 1, Section 10 is amended to read:

Section 10: Reduced-membership Procedure

Where fewer than six voting members are lawfully in office and eligible to vote because of vacancies, incapacity, or a legally required recusal, the Council may act under a reduced-membership procedure only if at least four eligible members participate. Action under that procedure shall require the unanimous vote of every eligible member then available and shall include, among the participating members: the Governor or Deputy Governor; either the Minister or Deputy Minister of Finance exercising the Finance seat or ~~the Chancellor's Governor~~the Governor appointed by the Chancellor; and at least one Regional Governor or Deputy Regional Governor lawfully acting in that office.

Temporary inconvenience, refusal to attend, failure to respond, or ordinary absence of a member whose office remains occupied shall not by itself activate the reduced-membership procedure. Reasonable efforts shall be made to contact and permit remote participation by every member whose vote is required.

(c) Article 10, Section 11 is amended to read:

Section 11: Emergency Banking Authority

Where an immediate and substantial threat exists to the integrity of the centralized banking system, payment operations, currency administration, account security, or financial stability, and delay necessary to obtain ordinary Council approval would materially increase the threat, the Governor may issue an Emergency Banking Direction with the written concurrence of two other Council members. At least one concurring member shall be the Deputy Governor, the Minister or Deputy Minister of Finance exercising the Finance seat, or ~~the Chancellor's Governor~~the Governor appointed by the Chancellor.

Section 13. Title 2, Chapter 20, Article 1 of the Civil Code is amended by inserting Sections 27 and 28 immediately after Section 26 and before Article 2, to read:

Section 27: Governor Appointed by Parliament

Parliament may appoint 1 Governor to the Imperial Banking Council by Act of Parliament. The Governor shall serve without a fixed term and may be removed at any time by Act of Parliament, subject to the Emperor's superior authority. The appointing Act shall add to this Section a paragraph identifying the appointee and the appointment's effective date. The latest operative appointment shall govern the seat. The Governor shall serve until resignation, death, lawful removal, or the successor's appointment takes effect.

The Governor appointed by Parliament shall exercise 1 Council vote under Section 6 and the Council functions under Section 5. This appointment shall confer no independent executive command, currency-issuance power, or membership of the Monetary Policy Committee. The Council's existing quorum and voting requirements shall continue to apply.

Section 28: Governor Elected by the People

One Governor of the Imperial Banking Council shall be elected by the registered citizens of the Totemian Empire in a single nationwide electoral constituency. The election shall take place concurrently with each ordinary general election for Parliament and the Chancellery, at 90-day intervals. The National Electoral Administration shall conduct and certify the election under Title 2, Chapter 10. Every candidate shall have an active National ID and shall appear on the ballot under the legal name in the Civil Registry, with registered political party affiliation or Independent status. The ballot shall identify the office contested as Governor of the Imperial Banking Council.

The National Electoral Administration shall determine the voting method by the number of eligible candidates at the opening of polling: (a) where 1 candidate stands, that candidate shall be returned unopposed; (b) where exactly 2 candidates stand, the election shall be decided by simple majority, each eligible elector casting 1 vote for 1 candidate and the winner requiring more than half of the valid votes cast; and (c) where 3 or more candidates stand, the election shall use single transferable vote (STV) for 1 seat, through single-winner preferential voting.

Under STV, each elector shall have 1 transferable vote and may rank 1, several, or every eligible candidate in the elector's preferred order. Each valid ballot shall initially count for its highest-ranked continuing candidate. A candidate receiving more than half of the continuing valid votes shall win. If no candidate has that majority, the candidate with the fewest votes shall be excluded and that candidate's ballots transferred at their existing value to each voter's highest-ranked continuing candidate. A ballot without a further continuing preference shall be exhausted and excluded from subsequent majority calculations. Counting shall continue until 1 candidate receives that majority or only 1 candidate remains. Ranking additional candidates shall not confer additional votes or diminish the first preference. The voting method shall not change during counting solely because candidates are excluded.

Where no candidate is eligible, the Administration shall reopen nominations under the applicable election calendar. An unresolved final tie or an election with no valid votes shall be subject to no more than 2 nationwide public electoral retries under the timetable of Title 2, Chapter 10, Article 5, Section 5, applied to individual candidates. If both retries fail, the Emperor shall determine the successful candidate from those remaining tied, and the National Electoral Administration shall record the final result.

The elected Governor shall serve a term of 90 days beginning upon lawful certification of the election, and may be reelected without limitation. If the successor's election is unresolved at the end of the term, the incumbent may continue exercising the Council seat until the successor assumes office unless the incumbent has resigned, died, been recalled, or otherwise been lawfully removed. The elected Governor shall be subject to recall under Article 20 of the Constitution, but shall not be removable at will by Parliament or the Chancellor. The Emperor's superior lawful authority and judicial remedies shall remain unaffected.

Where the elected seat becomes vacant before the next general election, the National Electoral Administration shall conduct a special election within 21 days unless the next general election is scheduled within that time. A person elected in a special election shall serve the remainder of the existing electoral term; the seat shall otherwise remain vacant until lawfully filled.

The Governors appointed under Section 27 and elected under this Section shall each exercise 1 vote and the functions of Council membership under Sections 5 and 6. Neither office shall confer command over IBTE personnel, the powers of the principal Governor of IBTE, independent monetary-policy or currency-issuance authority, or membership of the Monetary Policy Committee. The Council's existing quorum and voting requirements shall continue to apply.

Section 14. Title 2, Chapter 20, Article 2 of the Civil Code is amended by inserting Section 6 immediately after Section 5 and before Article 3, to read:

Section 6: Monetary Sovereignty and Operational Continuity

IBTE shall safeguard the Totemic Shilleng and administer the state's statutory monetary powers under the constitutional authority of the Emperor. Its responsibilities include lawful currency issuance and withdrawal, integrity of the centralized banking system, equal treatment of lawfully issued SL, and maintaining accurate records of the currency stock, issuance, and monetary transactions.

IBTE shall maintain the offices of Governor and Deputy Governor established by Article 1, an identified acting succession under Section 25 of that Article, and assigned responsibility for banking operations, credit administration, source verification, settlement, and system controls. Vacant operational functions may be assigned under Article 1, Section 19. Staffing arrangements shall preserve the applicable approval and voting requirements.

The Governor shall identify the officers or lawful acting arrangements responsible for those functions in IBTE's internal records and maintain continuity procedures for essential payments and account services. IBTE's institutional position and leadership shall remain governed by this Chapter; Treasury funding or fiscal-system access shall not confer command over IBTE.

Section 15. Title 2, Chapter 20, Article 11 of the Civil Code is amended by inserting Section 7 immediately after Section 6 and before Article 12, to read:

Section 7: Exclusive Banking Control of Monetary Settlement

IBTE shall control monetary source eligibility, banking restrictions, and execution of settlements and deposit returns under Article 16. MOF shall control lawful fiscal purposes, requests, allocations, and public-debt administration. MOF's certification of fiscal facts shall not release a banking restriction or replace IBTE's approval of monetary or banking facts.

The centralized banking system shall enforce that division of authority, including against privileged fiscal users. A correction, review decision, or superior direction affecting a restriction shall be processed through an authorized IBTE operation with its authority and audit record. MOF may seek review or resolution under Section 6 but shall not recover restricted money by unilateral administrative action.

Chapter 9 - Imperial Market and Central Pricing

Section 16. Title 2, Chapter 17 of the Civil Code is amended by inserting Article 6 immediately after Article 5 and before Chapter 18, to read:

Article 6: Imperial Market and Central Pricing

Section 1: Public Supply Service

MOF shall administer the Imperial Market as a government supply service using the Imperial Market Central Prices schedule. The service shall support access to materials and goods, including where private provision is insufficient. Private persons and organizations may continue lawful production, supply, and trade under the Code. The Imperial Market shall not purchase materials, goods, or other items offered for sale by any person or organization.

The Totemian Government possesses infinite material resources and shall supply the Imperial Market from its own resources rather than purchasing goods offered by private sellers. Obtaining privately held goods would not increase the Government's material supply; it could serve only to control the quantity of such goods in circulation. MOF shall set prices and decide which goods and quantities the Imperial Market offers using its own available service information. IBTE shall provide the authoritative monetary stock and issuance records needed for the statutory pricing calculation.

Section 2: Opening Prices and Monetary Index

Before the first monetary issue after commencement of this Article, MOF and IBTE shall publish a reconciled Opening Price Stock equal to national outstanding SL immediately before commencement, using the coverage in Title 2, Chapter 20, Article 16, Section 2. MOF shall publish an opening selling price and unit for each offered item. A stack, individual item, or other quantity shall be stated expressly. The Opening Price Stock must be positive; changing it shall require an Act of Parliament or Imperial Order.

For this Article, Gross Subsequent Issuance means all SL actually issued after the opening cutoff, counting each issue once. It includes PMA, programme, credit, and material-conversion issuance. The Market Monetary Factor shall equal 1 plus 0.10 multiplied by Gross Subsequent Issuance divided by the Opening Price Stock.

The factor shall be recomputed from cumulative amounts when an issue posts. Dividing an issue into smaller operations shall yield the same factor. Deposits, repayments, returns, debt discharge, withdrawals, expiry, a new Monetary Review Period, or a new programme shall not reset its opening stock or cumulative amount. A linked correction of an erroneous issue shall correct the index without inventing a new financial event.

The price system shall publish the resulting factor and price version when an issue posts. If publication cannot be completed, new Imperial Market orders shall be paused until the current version is available. A delay in publication shall not authorize sales under an obsolete version.

Section 3: Minimum Selling Prices

For each offered item, the minimum selling price shall equal its opening selling price multiplied by the Market Monetary Factor, rounded upward to 0.01 SL only at the final item-price calculation. The unrounded opening price and factor shall be retained. A new item's opening-equivalent price shall be its approved initial selling price divided by the factor then in force; its approval and calculation shall be recorded.

An item-specific adjustment may increase that minimum to reflect fulfillment time, handling, delivery, scarcity, or service burden. MOF shall establish the additional amount or calculation by a published Policy Order identifying the item or category, reason, unit, and effective date. Any later reduction shall remain within the statutory minimum unless an Act or Imperial Order changes that minimum.

Updated prices shall apply to new orders after publication of the corresponding price version. An accepted order shall retain its recorded price. The order interface shall show the price version, quantity, selling price, and any additional charge before confirmation.

This adjustment shall govern prices paid by purchasers to the Imperial Market. MOF shall publish only prices payable by those purchasers; the Imperial Market shall establish no government buying prices, buyback rates, or seller quotations. Its public interface and API shall provide no Sell function, accept no offers to sell goods to the Government, and process no payments to sellers. MOF shall check prices for opportunities to acquire materials from the state and immediately convert them for a guaranteed monetary gain under the separate statutory diamond and netherite conversion rules.

Section 4: Price Records

The official digital services shall link each posted currency issue to the cumulative index and resulting price version without duplicating either effect. They shall retain the opening stock and approved prices, item units, price calculations, published price versions and times, and any additional-charge authority. Imperial Market sales, receipts, cancellations, and refunds shall be recorded when those events occur through its official services. Existing-money receipts and refunds shall retain their banking source history.

END OF BILL

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