A bill is a written statement of the amount of money that a person or company owes for goods and services. It is similar to an invoice, a document used in business transactions to request payment for goods and services provided, but it is more specific and detailed. Bills help companies keep track of their expenses and manage cash flow.
In Parliament a bill is a proposed new law that is debated and voted on by Members of both Houses. Once a bill has been passed by both Houses it is presented to the reigning monarch for approval (known as Royal Assent) and becomes an Act of Parliament.
Before a bill can be introduced to the House of Commons or House of Lords it must go through a number of stages, including’stage of general discussion’ where the details of the bill are discussed and voted upon, and ‘committee stage’ where it is scrutinized in detail by committees. If the bill is approved by the committee it is then’reported favorably to the House’. If extensive amendments are made to the bill the committee may decide to report a ‘clean’ version of the original bill or introduce and report an amended bill in its place.
Often bills are more successful when they have broad support from many legislators. Legislators can show their support for a particular bill by signing their name to it, known as cosponsoring the legislation. If a bill is considered to be of important national significance, Members of both Houses are invited to sign an expression of their support called a “memorial” on the front page of the Bill.