Order, order.

Community Reinvestment Bill 2016

A bill to promote local investment, by residents of communities, through the establishment of a local investment fund

BE IT ENACTED by The Queen's most Excellent Majesty, by and with the advice and consent of the Commons in this present Parliament assembled, in accordance with the provisions of the Parliament Acts 1911 and 1949, and by the authority of the same, as follows:

Section I: Definitions

A) ‘Local Invest Fund’ may henceforth be referred to as an “LIF”

B) ‘STV’ refers to the “Single Transferable Vote” voting system

Section II: Establishment of the Investment Fund

A) This act will establish the LIF with the intention of promoting greater community cohesion and an increase in local investment

B) All County Councils are charged with the duty of providing a LIF

C) Between 6 and 12 members shall be elected to serve on an LIF Committee using the STV system. There shall be one committee per County Council. The committee's chair shall be shall be elected by the committee using STV

D) Elections shall be held at the same time as Council elections to promote greater turnout and representation as well as reduce the financial costs

E) Each County Council shall make available one meeting room for the use of the LIF Committee

F) Each County Council is permitted to appoint one or more Civil Servants to examine the viability and effectiveness of each project

Section III: Funding and the generation of funds

A) The funds are to be used on projects such as and similar too;

1. Local infrastructure projects (Small-scale Hydroelectric power and similar)

2. Regeneration projects

3. Maintenance of Local structures and monuments

4. Development of allotments and public gardens

B) Funds may be generated through the following methods or similar;

1. Fundraisers

2. Donations from individuals

3. Donations from Corporations (Provided that no financial incentives, fees and similar, are generated for the corporation)

4. Donations from local religious institutions

5. Any relevant government projects

C) Funds may not be borrowed or Loaned by any LIF. Should a LIF not have the necessary funds to complete a project, they are not permitted to invest.

Section IV: Short Title, Extent and Commencement

A) This Act-

1. May be cited as the ‘Community Reinvestment Act 2016’

2. Extends to England and Wales

3. Shall come into effect from ‘1st April 2017’

Written by members of the Conservative Party and submitted by /u/DrCaeserMD on behalf of the Conservative Party.

The reading for this bill will end on the 29th June.