BILL NO. 13

1st Session, 57th General Assembly
Nova Scotia
47 Elizabeth II, 1998



Government Bill



Financial Measures (1998) Act

WITH CHANGES RECOMMENDED BY THE LAW AMENDMENTS COMMITTEE TO THE COMMITTEE OF THE WHOLE HOUSE ON BILLS



The Honourable Donald R. Downe
Minister of Finance



First Reading: June 8, 1998

Second Reading: October 20, 1998

Law Amendments Committee: November 3, 1998

Committee of the Whole House on Bills: November 9, 1998

Third Reading: November 9, 1998

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An Act Respecting Certain Financial Measures

Be it enacted by the Governor and Assembly as follows:

1 This Act may be cited as the Financial Measures (1998) Act.

PART I

ASSESSMENT ACT

2 Subsections 46(3), (4), (5) and (5A) of Chapter 23 of the Revised Statutes, 1989, the Assessment Act, are repealed and the following subsections substituted:

PART II

HOME OWNERSHIP SAVINGS PLAN

3 Subsection 3(1) of Chapter 6 of the Acts of 1989, the Home Ownership Savings Plan (Nova Scotia) Act, as amended by Chapter 9 of the Acts of 1994, is further amended by striking out "1999" in the fourth line and substituting "2000".

PART III

INCOME TAX ACT

4 (1) Clause 6(1)(a) of Chapter 217 of the Revised Statutes, 1989, the Income Tax Act, is amended by striking out "paragraph (b)" in the last line and substituting "paragraphs (d) and (h)".

(2) Subsection 6(4) of Chapter 217, as amended by Chapter 9 of the Acts of 1994, is further amended by striking out "calculated pursuant to clause (b) of subsection (1)" in the second line and substituting "in respect of qualified expenditures incurred during the year".

5 (1) Subsection 13E(2) of Chapter 217, as enacted by Chapter 2 of the Acts of 1995, is amended by

(a) striking out "thirty" in the first line of clause (a) and substituting "thirty-two and one half"; and

(b) striking out "fifteen" in the first line of clause (b) and substituting "sixteen and one quarter".

(2) Subsection (1) has effect on and after June 4, 1998.

6 (1) Clause 13G(1)(a) of Chapter 217, as enacted by Chapter 3 of the Acts of 1997, is amended by

(a) striking out "with" in the sixth line of subclause (i) and substituting "without"; and

(b) striking out "with" in the eighth line of subclause (ii) and substituting "without".

(2) Subsection 13G(9) of Chapter 217 is repealed and the following subsection substituted:

(3) Subsection (2) applies to purchases made after December 31, 1997.

7 (1) Clauses 32C(1)(a) and (b) of Chapter 217 are repealed and the following clauses substituted:

(2) Subsection 32C(2) of Chapter 217, as enacted by Chapter 3 of the Acts of 1997, is amended by

(a) striking out "employed in Canada" in the fourth line of clause (a); and

(b) striking out "employed in Canada" in the fifth and sixth lines of clause (b).

(3) Subsection 32C(4) of Chapter 217 is repealed and the following subsection substituted:

(4) Subsections 32C(6) and (7) of Chapter 217 are repealed and the following subsections substituted:

8 Subsection 32D(4) of Chapter 217, as enacted by Chapter 3 of the Acts of 1997, is amended by adding "mutatis mutandis" immediately after "apply" in the second line.

9 Subsection 34(1) of Chapter 217 is amended by adding immediately after clause (a) the following clauses:

PART IV

MUNICIPAL GRANTS ACT

10 (1) Subsection 20(2) of Chapter 302 of the Revised Statutes, 1989, the Municipal Grants Act, as enacted by Chapter 7 of the Acts of 1994-95, is amended by striking out "1994" in the fifth line and substituting "1997".

(2) Subsection 20(3) of Chapter 302 is repealed and the following subsections substituted:

PART V

PROVINCIAL FINANCE ACT

11 Subsection 15(2) of Chapter 365 of the Revised Statutes, 1989, the Provincial Finance Act, is amended by striking out "by the Minister as a voucher" in the sixth and seventh lines and substituting "as a document".

12 Section 60A of Chapter 365, as enacted by Chapter 5 of the Acts of 1996, is amended by adding "(1)" immediately after the Section number and by adding the following subsections:

PART VI

PUBLIC SERVICE ACT

13 Section 4 of Chapter 376 of the Revised Statutes, 1989, is amended by adding immediately after subsection (2) the following subsection:

PART VII

PUBLIC SERVICE SUPERANNUATION ACT

14 Clause (k) of Section 2 of Chapter 377 of the Revised Statutes, 1989, the Public Service Superannuation Act, is repealed and the following clause substituted:

15 (1) Subsection 6(1) of Chapter 377 of the Revised Statutes, 1989, the Public Service Superannuation Act, as amended by Chapter 39 of the Acts of 1993, is further amended by

(a) striking out "sixty" in the second line of clause (a) and substituting "sixty-six and two thirds";

(b) striking out "forty" in the ninth last line of clause (b) and substituting "thirty-three and one third";

(c) striking out "sixty" in the fifth last line of clause (b) and substituting "sixty-six and two thirds"; and

(d) striking out "sixty" in the fifth line of clause (c) and substituting "sixty-six and two thirds".

(2) Subsection (1) has effect on and after July 1, 1998.

16 (1) Chapter 377 is further amended by adding immediately after Section 6 the following Section:

(2) For greater certainty, clauses 6(1)(a) and (b) apply after the period referred to in subsection (1).

(2) Subsection (1) has effect on and after July 1, 1998.

17 Chapter 377 is further amended by adding immediately after Section 9 the following Section:

18 (1) Subsection 17(1) of Chapter 377, as amended by Chapter 39 of the Acts of 1993, is further amended by

(a) striking out "sixty" in the fourth line of clause (a) and substituting "sixty-six and two thirds";

(b) striking out "forty" in the ninth last line of clause (b) and substituting "thirty-three and one third";

(c) striking out "sixty" in the fifth last line of clause (b) and substituting "sixty-six and two thirds"; and

(d) striking out "sixty" in the eleventh line of clause (c) and substituting "sixty-six and two thirds".

(2) Subsection (1) has effect on and after July 1, 1998.

(3) Clause 17(5A)(a) of Chapter 377, as enacted by Chapter 24 of the Acts of 1995-96, is amended by striking out "husband and wife" in the third line and substituting "spouses".

19 (1) Chapter 377 is further amended by adding immediately after Section 17 the following Section:

(2) Subsection (1) has effect on and after July 1, 1998.

20 Subclause 27(1)(b)(ii) of Chapter 377 is amended by

(a) striking out "husband and wife" in the second line and substituting "spouses"; and

(b) striking out "a person of the opposite sex" in the last line and substituting "another person".

21 Within six months of the coming into force of this Section, the Minister of Finance shall report to the House of Assembly on progress of discussions towards joint governance of the pension plan under the Public Service Superannuation Act by the Minister, the employees contributing to the Fund and pensioners under the Act.

PART VIII

REVENUE ACT

22 (1) Subsection 34(1) of Chapter 17 of the Acts of 1995-96, the Revenue Act, as amended by Chapter 21 of the Acts of 1996 and Chapter 3 of the Acts of 1997, is further amended by

(a) striking out "twenty-two" in the first line of clause (a) and substituting "fifty-two"; and

(b) striking out "forty" in the first line of clause (c) and substituting "eighty".

(2) Subsection (1) has effect on and after February 14, 1998.

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