By: L.N. Reklai
(Koror-Palau) President Tommy Remengesau Jr. signed into law Senate Bill 9-50, which amended two separate laws, the Presidential Succession Act and National Capital Complex Tax Free Zone Act and referred back SB 9-26, National Building Safety Standards Act for further consideration.
Presidential Succession Act amends 2 PNC, Chapter 3, specifying a process of succession for President or Vice President.
“The changes to the Presidential Succession Act further the voice of the citizens heard through votes casts during the general election of 2008…This piece of legislation furthers such voice by ensuring that in all feasible circumstances a vacancy by the President or the Vice President is filled through a general election instead of through direct succession by rank of elected officials,” stated President Remengesau in his transmittal letter.
On the National Capital Tax Free Trade Zone Act (40 PNC, Chapt. 24), President Remengesau agreed that encouraging investment around the Capital is important and agreed to the amendment of tax exemptions eligibility for businesses investing in this area to increase from 5 years to 10 years.
In his referral letter on the National Building Safety Standards Act, Remengesau stated that he agreed with the main purpose of the bill, to promote safe and sustainable construction, and he suggested that OEK work with all stakeholders to develop a more effective and comprehensive legislation.[/restrict]