JERUSALEM (JTA) — The Knesset will vote on a bill calling for full Israeli annexation of the West Bank.

Deputy Speaker Danny Danon announced Tuesday that the Knesset will take up the bill, which he authored, at the end of October.

The bill also nullifies any financial obligations between Israel and the Palestinian Authority that had been established by previous agreements, according to a statement from Danon’s office.

“If the Palestinian Authority wishes to proceed on this reckless path and bring further instability to the region, Israel cannot continue to pour funds into this sinking ship of failed leadership,” Danon said, referring to the PA’s statehood bid at the United Nations last Friday.

“The funding agreements with the PA were reached with the hope that their leaders would work to create an environment of lasting peace and security with Israel. Given that it is clear that the Palestinians have no such desire, Israel must no longer be required to stand by these arrangements.”

The bill also nullifies the Oslo Accords, since it reads that “All obligations between the State of Israel and the Palestinian Authority as established by international agreements … will be considered null and void.”

It was submitted in line with a similar initiative in the U.S. Congress offered by Rep. Joe Walsh (R-Ill.), which calls for supporting Israel’s rights to annex the West Bank should the Palestinian Authority move forward with its statehood bid without negotiating.

Meanwhile, a letter signed by the leaders of four ruling coalition factions — Likud Party chairman Ze’ev Elkin, Shas chairman Avraham Michaeli, Habayit Hayehudi chairman Uri Orbach, and National Union leader Yaakov Katz — asks Prime Minister Benjamin Netanyahu to annex Jewish-settled areas of the West Bank and calls for increased construction in those areas.

The letter also calls for additional sanctions against the Palestinians and not allowing any country that cooperates with their statehood bid to mediate future peace talks.

