BILL NO. 89

(as introduced)

2nd Session, 60th General Assembly
Nova Scotia
56 Elizabeth II, 2007



Private Member's Bill



Carbon Offsets Fund Act



Graham Steele
Halifax Fairview



First Reading: December 7, 2007

Second Reading:

Third Reading:

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An Act to Establish the Nova Scotia
Voluntary Carbon Offsets Fund

Be it enacted by the Governor and Assembly as follows:

1 This Act may be cited as the Carbon Offsets Fund Act.

2 In this Act, "Fund" means the Nova Scotia Voluntary Carbon Offsets Fund.

3 There is hereby established a non-profit fund to be known as the Nova Scotia Voluntary Carbon Offsets Fund.

4 Voluntary levies from activities that produce greenhouse gases shall be paid into the Fund.

5 The moneys in the Fund shall be invested in projects in the Province and elsewhere that reduce greenhouse emissions.

6 (1) The Governor in Council may make regulations

(a) respecting the governance of the Fund:

(b) respecting the per tonne cost of voluntary offsets;

(c) respecting the investing of the moneys in the Fund;

(d) defining any word of expression used by not defined in this Act;

(e) respecting any matter or thing the Governor in Council deems necessary or advisable to carry out effectively the intent and purpose of this Act.

(2) The exercise by the Governor in Council of the authority contained in subsection (1) is regulations within the meaning of the Regulations Act.

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