The committee is used to modify LGCY dynamic network parameters, such as block generation rewards, transaction fees, etc. The committee consists of the 27 GBs in the current round. Only the LB will have the right to propose and vote on proposals. When a proposal receives 5 votes or more (simple majority), it is passed to the EB for veto or approval (simple majority to veto or approve). If the proposal is vetoed it is passed to the JB to rule (again, simple majority). The proposal is either accepted or rejected at this point. If the proposal is accepted the new network parameters will be applied in the next maintenance period (3 days).