Legislative Bill · Costavela
Failed

Financial Stability And Land Ownership Act of 2024

Proposed by Costavela Democratic Union · fronted by Tomás Méndez
Failing
passing in 0 of 2 chambers
Opened
16 Apr 2024
Voting closes
15 Jun 2024
Chambers
2 legislatures
Articles
2 changes

Rationale

Modernizes financial oversight to prevent crises and protects housing affordability by restricting foreign residential ownership.

Proposed Changes

1

Banking & Financial Regulation
Previous law
Capital controls, separated retail/investment banking
Strong prudential oversight

2

Foreign Land Ownership
Previous law
Foreign purchases require government approval
Foreign ownership limited to commercial property only; residential banned

Timeline

  • Draft
    16 April 2024


  • Vote Open
    16 April 2024


  • Vote Closed
    15 June 2024


  • Did Not Become Law
    15 June 2024

Vote tally

Live tally across each chamber. Weighted by seats held.

Senado

Failed
21Yes 120No 45Abstained 80Not voted 266 seats

For: 21 / 266 seats (7.9%)

Against: 120 · Abstained: 45 · Not voted: 80

50.1% of those voting must vote in favour (actual = 14.9%)
Party Seats Vote
Alliance 99 No
Costavela Democratic Union Proposer 21 Yes
Revolutionary Socialist Union 45 Abstain
Youth Of Costa 21 No
Empty seats 54 Not voted

Congress of Deputies

Failed
37Yes 158No 49Abstained 106Not voted 350 seats

For: 37 / 350 seats (10.6%)

Against: 158 · Abstained: 49 · Not voted: 106

50.1% of those voting must vote in favour (actual = 19.0%)
Party Seats Vote
Alliance 105 No
Costavela Democratic Union Proposer 37 Yes
Revolutionary Socialist Union 49 Abstain
Youth Of Costa 53 No
Empty seats 80 Not voted

Voting record

Every vote must state a public reason. Most recent first.

Alliance
Voted April 25, 2024
No Changed vote

“We do not approve this proposal which goes against free market and freedom to invest in our country.”

Alliance
Voted April 25, 2024
Yes Changed vote

“"We do not approve this proposal which goes against free market and freedom to invest in our country.””

Alliance
Voted April 25, 2024
No

“We do not approve this proposal which goes against free market and freedom to invest in our country.”

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