BILLIONAIRE PROGRAM ACT (BPA)
TITLE I — FINDINGS AND PURPOSE
Section 101. Findings
Congress finds that:
  1. Extreme wealth concentration undermines democratic governance and equitable economic opportunity.

  2. Voluntary wealth redistribution programs can rebalance economic power without resorting to confiscatory taxation.

  3. Incentivizing voluntary adjustment of extreme wealth fosters societal well-being, market dynamism, and civic trust.

  4. Establishing clear caps on individual wealth preserves innovation and investment while curbing oligarchic influence.

Section 102. Purpose
The purpose of this Act is to establish a permanent, voluntary program for individuals with extreme wealth to redistribute excess holdings, with structured protections, defined exemptions, and regulatory oversight.
TITLE II — DEFINITIONS
Section 201. Definitions
  1. Wealth Cap: $200 million net worth, calculated as the total value of all assets (domestic and offshore) less liabilities directly or indirectly attributable to the individual.

  2. New Wealth Cap: $300 million net worth permitted for participants following successful completion of the program.

  3. Downside Protection Floor: Guaranteed net worth of $100 million, excluding losses from gambling, political donations, subsequent gifts, or illegal activities.

  4. Exempt Assets:
    1. One primary personal residence, of unlimited value (Homestead Exemption).
    2. One active operating entity, where the participant’s interest is valued up to $200 million (One Entity Exemption). This One Entity must derive at least 80% of its revenue from the sale of goods or services, not merely from financial returns from investments. The One Entity may however hold 100% equity stake in subsidiary operating entities.

  5. Ultra: A U.S. citizen or permanent resident whose net worth exceeds the Wealth Cap.

  6. Billionaire Program Participant (BPP): An Ultra who voluntarily enrolls in the Program.

  7. Beneficial Pairing Contract (BPC): A formal mechanism under which a BPP gifts wealth exceeding the Wealth Cap to eligible individual Donees.

  8. Donee: An individual human being, aged 18 or older, who may receive gifts.

  9. FWOA: The Federal Wealth Oversight Agency established under this Act.

  10. Net Worth:  The dollar amount, as of a date of measurement, that the fair market value of an individual’s assets (directly or indirectly owned, including controlled assets) exceeds the amount of an individual’s personal liabilities.
    1. Treatment of Trust Assets: For purposes of calculating an individual’s net worth under this Act, all assets held in trust shall be attributed to the individual if: (1) the individual is the settlor or grantor of the trust and retains the power to revoke, amend, control, or direct the trust or its assets; or (2) the individual, directly or indirectly, benefits from or controls the trust’s income or principal, regardless of formal beneficiary designations.
    2. Assets held in bona fide irrevocable trusts, where the individual has permanently and effectively relinquished all control, direction, or beneficial interest, shall not be included in the individual’s net worth.
TITLE III — PROGRAM ESTABLISHMENT
Section 301. Establishment of the Billionaire Program
  1. The Billionaire Program is created as a permanent, voluntary system allowing Ultras to adjust their net worth in accordance with the Wealth Cap.
  2. The Federal Wealth Oversight Agency (FWOA) is established within the Department of Treasury to oversee program administration, audits, enforcement, dispute resolution, and public communication.
TITLE IV — PARTICIPATION REQUIREMENTS AND TERMS
Section 401. Enrollment
  1. Any Ultra may enroll by filing a declaration with the FWOA.

  2. Upon enrollment, the BPP agrees to adjust their net worth to comply with the Wealth Cap, using annual gifting mechanisms.

Section 402. Gifting Mechanisms
  1. Annual minimum after enrollment as a BPP: Gifts made pursuant to this Act must annually be a minimum of 10% of the amount of net worth exceeding the Wealth Cap or $150 million, whichever is greater, until a BPP’s net worth is adjusted to the Wealth Cap.

  2. Gifts must be:

    1. Made only to Donees (individual human beings, 18+).

    2. Capped at $15 million lifetime per Donee.

    3. Unconditional, immediate, and irrevocable.

  3. Interests in closely held private entities and trusts must be either liquidated or transferred in kind as part of a BPC.  A BPC involving a gift of interests in closely held and publicly traded companies shall contain a sale restriction providing that a Donee may not sell more than 20% of gifted interest in a calendar year. In kind gifts of interest in closely held private companies would take the form of a transfer of the interest in the entity subject to all of the rights and obligations associated with such interests as were held by a BPP prior to gifting.
Section 403. Exemptions from Net Worth for the Wealth Cap Calculation
  1. Homestead Exemption: BPP’s Primary residence (where an Ultra resides more than 6 months per calendar year) is excluded from wealth calculation.

  2. One Entity Exemption: Participant may retain up to $200 million in equity in a single operating entity (with wholly owned operating subsidiaries included) provided that more than 80% of the entity’s revenue, on a consolidated basis, comes from sale of goods or services, not financial holdings.
Section 404. Additional Participant Benefits
  1. Downside Protection Floor: A BPP is guaranteed a $100 million net worth (except as reduced by gambling losses, political donations, subsequent gifts, or illegal losses).
  2. Increased Wealth Cap: Subsequent to adjustment of net worth to the Wealth Cap, a BPP may accumulate up to $300 million in net worth.
  3. Estate and Gift Tax Exemption: A BPP is exempt from federal Estate and Gift taxes.
TITLE V — NONPARTICIPATION CONSEQUENCES
Section 501. Wealth Hoarding Offense
  1. Nonparticipating Ultras whose net worth exceeds the Wealth Cap are subject to criminal penalties. Each day that an Ultra’s net worth exceeds the Wealth Cap is a new and separately punishable offense.
  2. Penalty: If a nonparticipating Ultra does not choose the voluntary self-exile option provided in Section 501(c) within 30 days of indictment for a wealth hoarding offense under this Act,  the penalty for wealth hoarding is a mandatory sentence of 40 years imprisonment. An Ultra subject to imprisonment may retain all wealth and voting rights and rights to make political contributions as allowed by law.
  3. Voluntary permanent self-exile: Prior to prosecution for a wealth hoarding offense, a nonparticipating Ultra may choose to leave the United States and shall thereafter be permanently barred from re-entering the United States for any reason including travel through the U.S. for other foreign destinations. Upon an incident of re-entry into the U.S. after voluntary self-exile, such nonparticipating Ultra may be arrested, held without bail as a flight risk, and subject to indictment and imprisonment for a wealth hoarding offense. Upon such voluntary self exile, a nonparticipating Ultra may retain all wealth, U.S. citizenship, voting rights, rights to make political contributions, and a U.S. passport for travel elsewhere in the world.
TITLE VI — ADMINISTRATION AND ENFORCEMENT
Section 601. FWOA Powers
  1. Conduct detailed net worth assessments annually of Ultras and BPPs.

  2. Issue binding regulations on asset valuation, nonrecourse debt, encumbrances, and complex financial instruments including, but not limited to, trusts and offshore assets.

  3. Establish procedures for asset and liability investigation, verification of the immediate, unconditional and irrevocable nature of gifts, verification of compliance with gifting dollar limits, and dispute resolution tribunals for contested valuations.

  4. Provide detailed public reporting and transparency to Congress.

Section 602. Funding
  1. Funding for the FWOA and other administrative and enforcement provisions of this Act and regulations promulgated by the FWOA shall be through Congressional appropriations as required for effective administration of this Act.
TITLE VII — EFFECTIVE DATE
​Section 701. Effective Date
  1. This Act shall take effect two years after enactment.
  2. [NOTE: Citations to U.S. Code (e.g., 31 U.S.C., 18 U.S.C.) would be assigned upon integration with existing statutory law.]
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