The money bill means a bill with
provisions dealing with any of the following matters:
a.
The imposition, repeal,
reduction, alteration, modification
remission or regulation of taxes or duties
b.
The allocation,
receipt, custody, payment of the state funds or transfer of expenditure
estimates of the state
c.
The raising of
loans, or guarantee or redemption of loans or any binding of states
properties
In a democratic
setting, the elected representatives of the people are constitutionally
mandated to sanction imposition of taxes and the appropriate funds, after
considering the proposals in form
of tomates placed before them by
the executive must bear
the stamp of authority of the
legislative body in the forst instance.
To this end, in virtually all parliaments of the world, there is this common provision
in their country’s constitutions as to whose
duty or responsibility it is to
pass laws. This duty is invariably
bestowed on the legislature. The responsibility is indeed more
pronounced in regard to money matters – that is appropriation and
finance inducing even bills whose
subsidiary elements involve money.
REFERENCE
The worlds most expensive club,
the economist 2007-05-24
Sovereign wealth funds new hedge
fund . the new York times 2007-08-01
Who holds the wealth of nation?
(PDF) Central Banking Journal (May 2005) volume
15, number 4). archived form the original on 2008-05-29 retrieved 2008-09-02
EZEALI B.O and
Nwoba M.O.E (2012) public finance
administration in Nigeria cases and
issues. Chambers books limited Onitsha
Anambra State: Nigeria