The Nova Scotia Legislature

The House adjouned: May 20, 2016

Bill No. 108

Financial Measures (2015) Act

An Act Respecting Certain Financial Measures

Introduced by:
Honourable Diana C. Whalen
Minister of Finance and Treasury Board

First Reading
Second Reading Debates
Second Reading Passed
Law Amendments Committee
    Meeting Date(s) May 5, 2015; May 6, 2015
    Reported to the House
Committee of the Whole House
Third Reading Debates
Third Reading
Royal Assent
Commencement May 11, 2015 except: S. 3, 28, 29, 41, 44, 45 and 54 have effect on and after April 1, 2015; S. 16, 24 to 27 and 32 to 40 have effect on and after April 9, 2015; S. 46 has effect on and after April 10, 2015; S. 5 has effect on and after May 1, 2015; S. 30 and 31 have effect on and after June 1, 2015; S. 50 to 52 have effect on and after August 1, 2015; S. 15 comes into force on such day as the Governor in Council orders and declares by proclamation.
2015 Statutes, Chapter 6

Explanatory Note

Clause 1 sets out the short title of the Act.

Clause 2 adds persons employed in the new Department of Business to the description of persons considered to be employed in a managerial or confidential capacity for the purpose of the Civil Service Collective Bargaining Act and removes a reference to a body that no longer exists.

Clause 3 increases fees under the Companies Act.

Clause 4 provides for an annual maximum of $12,000,000 in capital tax payable by financial institutions subject to the tax.

Clause 5 increases fees under the Corporations Registration Act.

Clauses 6 to 14 allow provincial court judges and family court judges to issue emergency protection orders under the Domestic Violence Intervention Act.

Clause 15 repeals the Film and Creative Industries Nova Scotia Act.

Clause 16 transfers the assets and liabilities of Film and Creative Industries Nova Scotia to Nova Scotia Business Inc.

Clause 17 provides for the establishment of a Nova Scotia Film and Television Production Incentive Fund.

Clauses 18 and 19 eliminate the tax credit for designated sport and recreational activities effective January 1, 2015.

Clause 20 reduces the dividend tax credit for non-eligible dividends effective January 1, 2015.

Clause 21 eliminates the film industry tax credit effective July 1, 2015.

Clause 22 renames the Digital Media Tax Credit subdivision of the Income Tax Act as Computer-assisted Labour Incentives.

Clause 23 adds animation incentive to the renamed Computer-assisted Labour Incentives subdivision of the Income Tax Act.

Clause 24 updates the name of the minister responsible for the Innovation Corporation Act.

Clause 25 removes the deputy minister of the responsible minister and the Deputy Minister of Finance and Treasury Board from the board of directors of Nova Scotia Innovation Corporation.

Clause 26
(a) revises the requirements for the reports and plans to be submitted to the Minister of Business by Nova Scotia Innovation Corporation; and
(b) requires it to enter into an annual outcomes agreement with the Minister.

Clause 27 authorizes the Governor in Council to make regulations respecting the annual outcomes agreements.

Clauses 28 and 29 prescribe fees under Part III (LICENSES FOR AGENTS) of the Insurance Act.

Clauses 30 and 31 increase fees under the Motor Vehicle Act.

Clause 32 updates the name of the minister and department responsible for the Nova Scotia Business Incorporated Act.

Clause 33 removes the deputy minister of the Department from the board of directors of Nova Scotia Business Inc.

Clause 34 revises the objects of Nova Scotia Business Inc. to enter into an annual outcomes agreement.

Clause 35 revises the powers of Nova Scotia Business Inc.

Clause 36
(a) removes references to Nova Scotia Innovation Corporation; and
(b) clarifies the meaning of the disposal of a material portion of Nova Scotia Business Inc.‘s assets or undertaking.

Clause 37
(a) revises the requirements for the reports and plans to be submitted to the Minister of Business by Nova Scotia Business Inc.; and
(b) requires it to enter into an annual outcomes agreement with the Minister.

Clause 38 repeals a provision providing that Nova Scotia Business Inc. is not an agent of Her Majesty in right of Nova Scotia.

Clause 39 revise the regulation-making authority of the Governor in Council.

Clause 40 removes references to a department in provisions respecting employees designated to become employees of Nova Scotia Business Inc.

Clause 41 increases a fee under the Payment into Court Act.

Clause 42 updates a reference in the Pension Benefits Act.

Clause 43 corrects a cross-reference.

Clause 44 increases fees under the Personal Property Security Act.

Clause 45 increases fees under the Probate Act.

Clause 46 increases the tax on tobacco.

Clauses 47 to 49 allow provincial court judges, in addition to justices of the peace, to exercise certain powers under the Summary Proceedings Act.

Clauses 50 to 52 increase fees under the Summary Proceedings Act.

Clause 53 allows provincial court judges, in addition to justices of the peace, to exercise certain powers under the Summary Proceedings Act.

Clause 54 increases taxes under the Trust and Loan Companies Act.

Clause 55 sets out effective dates for some provisions of this Act.