BILL NO. 31

(2) Orders issued under this Part after February 18, 2003, are valid notwithstanding that those orders were not filed with the Registrar of Regulations as required by the Regulations Act.

(1B) Where an eligible investor has received a tax credit certificate from an eligible business that is a community economic-development corporation for shares from a specified issue for which a tax credit certificate was issued, and the eligible investor has not disposed of the shares for ten years from the date of the specified issue of shares, the eligible business shall apply to the Minister within the time specified by regulation in a form acceptable to the Minister for a tax-credit certificate entitling the eligible investor to an additional tax credit pursuant to Section 37 of the Income Tax Act equal to ten per cent of the amount originally received by the eligible business from the eligible investor for the shares of the specified issue if the market value of the community economic-development corporation fund at the time of the application is greater than fifty per cent of the original book value of invested capital raised at the time of the issue of shares to the eligible investor from the specified issue and the community economic-development corporation has raised additional capital through other specified issues registered pursuant to Section 11 for which a tax credit has been issued.

(1C) Subsection (2) and subsection (3), except clause (c), apply to subsections (1A) and (1B).

(a) the amount equal to the additional tax credit received under subsection (1A) including interest thereon if prescribed by regulation; or

(b) a lesser amount determined pursuant to the regulations in prescribed circumstances.

(2B) A person who disposes of a share for which an additional tax credit is allowed under subsection (1B), within fifteen years from the date of purchase, shall repay to the Minister

(a) the amount equal to the additional tax credit received under subsection (1B) including interest thereon if prescribed by regulation; or

(b) a lesser amount determined pursuant to the regulations in prescribed circumstances.

(a) that was purchased before the first day of July, 2006, within four years from the date of purchase; or

(b) that was purchased after the thirtieth day of June, 2006, within five years from the date of registration under subsection 3(3) by the corporation for the specified issue,

shall repay to the Minister

(c) an amount equal to the tax credits received in respect of these shares, including interest thereon where prescribed by regulation; or

(d) a lesser amount determined pursuant to the regulations in prescribed circumstances.

(ab) a tax credit certificate was issued under Section 8 for the specified issue;

(a) amalgamate with another labour-sponsored venture-capital corporation;

(b) enter into an arrangement for the purchase of substantially all of the assets of another labour-sponsored venture-capital corporation; or

(c) enter into an arrangement for the sale to another labour-sponsored venture-capital corporation of substantially all of its assets.

(2) The notification must be given at least thirty days before the proposed amalgamation, purchase or sale and must be accompanied by such information and documents as prescribed by regulation.

(3) The following rules apply for the purpose of this Act on an amalgamation of a labour-sponsored venture-capital corporation with another labour-sponsored venture-capital corporation:

18D Subject to Sections 18B and 18C, an amalgamation of a labour-sponsored venture-capital corporation with another labour-sponsored venture-capital corporation is deemed not to be a disposal of shares for the purpose of subsection 18A(2).

where

AP is the appropriate percentage for the taxation year;

Y is $600 for the 2006 taxation year, or $1,200 for the 2007 and subsequent taxation years; and

QD is the number of children to whom subsection (7) applies.

(6) Subsection (5) applies with respect to an individual who, on the last day of the taxation year

(a) does not have a cohabiting spouse or common-law partner as defined in section 122.6 of the Federal Act;

(b) has a cohabiting spouse or common-law partner, as defined in section 122.6 of the Federal Act, whose taxable income for the taxation year is greater than the individual's taxable income for the taxation year; or

(c) has a cohabiting spouse or common-law partner, as defined in section 122.6 of the Federal Act, whose taxable income for the taxation year is equal to the individual's taxable income for the taxation year and the cohabiting spouse or common-law partner renounces his or her entitlement to claim a credit pursuant to subsection (5).

(7) Subsection (5) applies with respect to a child who

(a) is residing with the individual on the last day of the taxation year or, in the case of a child who dies during the taxation year, is residing with the individual on the date of the child's death; and

(b) is a qualified dependent, as defined in section 122.6 of the Federal Act, of the individual at any time during the taxation year.

(8) Where an individual claims a credit pursuant to subsection 10(1)(b) for a taxation year with respect to a child, the individual is not entitled to a credit pursuant to subsection (5) with respect to the same child for that taxation year.

(a) for the 2007 taxation year, $7,481;

(b) for the 2008 taxation year, $7,731;

(c) for the 2009 taxation year, $7,981; and

(d) for the 2010 taxation year, $8,231.

(2) The dollar amount of $6,140 referred to in clauses 10(1)(a) and (b) and included in the description of B in subsection 10(1) is replaced with the following dollar amount:

(a) for the 2007 taxation year, $6,352;

(b) for the 2008 taxation year, $6,565;

(c) for the 2009 taxation year, $6,778; and

(d) for the 2010 taxation year, $6,989.

(3) The dollar amount of $614 referred to in clauses 10(1)(a) and (b) and included in the description of B in subsection 10(1) is replaced with the following dollar amount:

(a) for the 2007 taxation year, $635;

(b) for the 2008 taxation year, $656;

(c) for the 2009 taxation year, $678; and

(d) for the 2010 taxation year, $699.

(4) The dollar amount of $15,837 referred to in clause 10(1)(d) is replaced with the following dollar amount:

(a) for the 2007 taxation year, $16,384;

(b) for the 2008 taxation year, $16,932;

(c) for the 2009 taxation year, $17,480; and

(d) for the 2010 taxation year, $18,027.

(5) The dollar amount of $11,661 referred to in clause 10(1)(d) and included in the description of E is replaced with the following dollar amount:

(a) for the 2007 taxation year, $12,064;

(b) for the 2008 taxation year, $12,467;

(c) for the 2009 taxation year, $12,870; and

(d) for the 2010 taxation year, $13,274.

(6) The dollar amount of $4,845 referred to in clauses 10(1)(e) and (f) and included in the description of F is replaced with the following dollar amount:

(a) for the 2007 taxation year, $5,013;

(b) for the 2008 taxation year, $5,180;

(c) for the 2009 taxation year, $5,348; and

(d) for the 2010 taxation year, $5,515.

(7) The dollar amount of $3,531 referred to in subsection 10(2) and included in the description of B in subsection 10(2) is replaced with the following dollar amount:

(a) for the 2007 taxation year, $3,653;

(b) for the 2008 taxation year, $3,775;

(c) for the 2009 taxation year, $3,897; and

(d) for the 2010 taxation year, $4,019.

(8) The dollar amount of $26,284 referred to in subsection 10(2) and included in the description of B in subsection 10(2) is replaced with the following dollar amount:

(a) for the 2007 taxation year, $27,193;

(b) for the 2008 taxation year, $28,101;

(c) for the 2009 taxation year, $29,010; and

(d) for the 2010 taxation year, $29,919.

(9) The dollar amount of $1,000 referred to in subsection 10(3) and included in the description of B in subsection 10(3) is replaced with the following dollar amount:

(a) for the 2007 taxation year, $1,035;

(b) for the 2008 taxation year, $1,069;

(c) for the 2009 taxation year, $1,104; and

(d) for the 2010 taxation year, $1,138.

where

A is the appropriate percentage for the year;

B is the total of the individual's medical expenses in respect of the individual, the individual's spouse, the individual's common-law partner or a child of the individual who has not attained the age of eighteen years before the end of the taxation year that are included in determining the individual's medical expense credit for the year under subsection 118.2 (1) of the Federal Act;

C is the lesser of $1,637 and three per cent of the individual's income for the year; and

D is the total of all amounts each of which

(a) is in respect of a dependant of the individual, within the meaning assigned by subsection 118 (6) of the Federal Act, other than a child of the individual who has not attained the age of eighteen years before the end of the taxation year; and

(b) is, in respect of the dependant,

(a) for the 2007 taxation year, $4,441;

(b) for the 2008 taxation year, $4,596;

(c) for the 2009 taxation year, $4,738; and

(d) for the 2010 taxation year, $4,887.

(2) The dollar amount of $2,941 referred to in subsection 13(1) and included in the description of C in subsection 13(1) is replaced with the following dollar amount:

(a) for the 2007 taxation year, $3,043;

(b) for the 2008 taxation year, $3,144;

(c) for the 2009 taxation year, $3,246; and

(d) for the 2010 taxation year, $3,348.

(3) The dollar amount of $2,000 referred to in subsection 13(1) and included in the description of C in subsection 13(1) is replaced with the following dollar amount:

(a) for the 2007 taxation year, $2,069;

(b) for the 2008 taxation year, $2,138;

(c) for the 2009 taxation year, $2,207; and

(d) for the 2010 taxation year, $2,277.

(a) "eligible program" means a program of post-secondary study delivered at an approved institution that

(c) "Minister" means the Minister of Finance of the Province;

(d) "qualified individual" means an individual who has graduated from an eligible program in a taxation year;

(e) "taxation year" means the 2006 taxation year or a subsequent taxation year in which a qualified individual graduates from an eligible program.

(2) A qualified individual who has not previously received a graduate tax credit pursuant to this Section may apply to the Minister for a graduate tax credit under this Section in the manner, within the time and in such form as may be prescribed by regulation.

(3) Where the Minister is satisfied that an individual is a qualified individual, the Minister may allow the qualified individual a graduate tax credit for the taxation year in which the qualified individual graduated or in either of the next two taxation years immediately following the taxation year in which the qualified individual graduated, in an amount calculated in accordance with the following formula and rounded up to the next whole dollar:

(4) Where the Minister allows a graduate tax credit to a qualified individual, the Minister shall issue a form confirming the following:

(a) the qualified individual's entitlement to the tax credit;

(b) the amount of the tax credit that is allowed;

(c) any additional information that may be required in the regulations.

(5) For the purpose of computing tax payable by a qualified individual under this Part, there may be deducted an amount certified by the Minister in clause (4)(b), in whole or in part, in the taxation year in which the amount is allowed by the Minister and any unused portion may be deducted in any subsequent taxation year up to and including the second taxation year following the taxation year in which the qualified individual graduated, following which there is no further deduction permitted.

(6) Where a qualified individual claims a graduate tax credit in computing the tax payable under this Part for a taxation year, the qualified individual's annual return is to be accompanied by the form issued to the qualified individual pursuant to clause (4)(b).

(7) The Governor in Council may make regulations

(a) establishing criteria to define eligible programs and approved institutions;

(b) respecting additional information that must be provided for an application under subsection (2);

(c) respecting any additional criteria for approval, amendment or rejection of applications under subsection (2);

(d) respecting the form of the certificate to be provided under clause (4)(b);

(e) defining, expanding or restricting the meaning of any word or expression used but not defined in this Section;

(f) respecting any other matter that the Governor in Council considers necessary or advisable to carry out effectively the intent and purpose of this Section.

(8) A regulation made pursuant to this Section may be made retroactive to a day not earlier than January 1, 2006.

(a) prescribing the rate or rates or the manner of calculating the same or specifying the fixed amounts for the purpose of indexing the tax credits available under this Part;

(b) prescribing the rate or rates or the manner of calculating the same or specifying the fixed amounts to be applied to an individual's taxable income or taxable income earned in Canada, including the minimum tax amount for the purpose of the calculation in Section 8;

(c) defining any word or expression used but not defined in this Part.

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

both calculated as if no amount were included under subsection 56(6) of the Federal Act or in respect of any gain from a disposition of property to which section 79 of the Federal Act applies in computing that income and as if no amount were deductible under paragraph 60(y) of the Federal Act in computing that income;

(b) 16.25% of the total production costs of the eligible film in the case of subclause (a)(i), 17.5% in the case of paragraph (a)(ii)(A), 20% in the case of paragraph (a)(ii)(B) or (a)(ii)(C), 15% in the case of paragraph (a)(iii)(A), 17.5% in the case of paragraph (a)(iii)(B), 20% in the case of paragraph (a)(iv)(A) and 17.5% in the case of paragraph (a)(iv)(B).

(6) A corporation that has claimed and is eligible for a tax credit under this Section for a taxation year is deemed to have paid, at the time referred to in paragraph 157(1)(b) of the Federal Act, as that paragraph relates to that taxation year, the amount of that credit on account of its tax payable under this Act.

(a) no capital cost shall be added to the capital cost of qualified property after May 9, 2006; and

(b) the deduction by a corporation pursuant to subsection (2) for an investment tax credit expires the taxation year for the corporation ending in 2009.

(viii) 0.2% of taxable capital employed in the Province for the years as determined under subsection (2) multiplied by the amount that the number of days in the year that are after June 30, 2010, but before July 1, 2011, is of the number of days in the taxation year;

(ix) 0.1% of taxable capital employed in the Province for the years as determined under subsection (2) multiplied by the amount that the number of days in the year that are after June 30, 2011, but before July 1, 2012, is of the number of days in the taxation year; or

(viii) 0.1% of taxable capital employed in the Province for the years as determined under subsection (2) multiplied by the amount that the number of days in the year that are after June 30, 2010, but before July 1, 2011, is of the number of days in the taxation year;

(ix) 0.05% of taxable capital employed in the Province for the years as determined under subsection (2) multiplied by the amount that the number of days in the year that are after June 30, 2011, but before July 1, 2012, is of the number of days in the taxation year.

(a) "eligible property" means property of Class 43.1 and Class 43.2 of Schedule II of the Federal Regulations;

(b) "energy tax credit" of a corporation at the end of the taxation year for expenditures made in a taxation year ending after July 1, 2006, means the amount that is twenty-five per cent of the capital cost of acquisitions or additions to eligible property after July 1, 2006.

(2) A corporation may deduct from tax otherwise payable under this Part for a taxation year an amount not exceeding the lesser of

(a) its energy tax credit at the end of the taxation year for expenditures made in a taxation year ending after July 1, 2006; and

(b) 50% of the amount of tax payable under this Part.

(3) Where the amount of the energy tax credit exceeds the amount of the tax payable under this Part for the taxation year, a corporation may carry forward and deduct any unused balance of the energy tax credit from tax otherwise payable by the corporation under this Part in any one or more of the corporation's seven subsequent taxation years if, in any taxation year the energy tax credit is carried forward, the total energy tax credit deducted from tax otherwise payable under this Part does not exceed the amount in clause (2)(b) that is applicable for the taxation year.

(4) A corporation may renounce its entitlement to all or any part of the portion of the energy tax credit in respect of expenditures on eligible property incurred during the year on or before the time on or before which the corporation is required to file its return of income for the year pursuant to section 150 of the Federal Act and, where the corporation so renounces entitlement to that credit, the corporation is deemed for all purposes never to have received, to have been entitled to receive or to have had a reasonable expectation of receiving that credit.

(a) all revenues received under Part I of the Revenue Act; and

(b) all fees and fines collected under the Motor Vehicle Act net of all costs associated with the collection of those fees and fines.

(2) The Governor in Council may make regulations

(a) defining any word or expression used but not defined in this Section;

(b) the Governor in Council deems necessary or advisable to carry out effectively the intent and purpose of this Section.

(a) approve the financial obligation provided the person authorized or empowered to enter into the financial obligation does not require the approval of the Governor in Council to do so; or

(b) forward the report and the report and recommendation to the Executive Council to the Governor in Council for consideration.

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

(2) The Minister may pay out of the Consolidated Fund amounts to be lent pursuant to this Section.

(ab) respecting eligibility requirements for educational programs that qualify for loans under Section 83B;

(ac) respecting eligibility requirements for students to qualify for loans under Section 83B;

(ad) respecting the terms and conditions of loans under Section 83B, including the amount of any fee to be charged in respect of the loan, the rate of interest to be charged, the method of calculating interest, the terms of repayment and any security required to secure the loan;

(2) The Governor in Council may assign to a member of the Executive Council responsibility for the Office of Fisheries and Aquaculture.

(3) The Office of Fisheries and Aquaculture shall be presided over by the Minister of Fisheries and Aquaculture who has the supervision, direction and control of all affairs and matters relating to the Office and who shall supervise the performance of the functions of the Office.

(4) The Governor in Council may appoint a person to be Chief Executive Officer of the Office of Fisheries and Aquaculture who shall be paid such salary as the Governor in Council determines and who shall perform such duties as are from time to time prescribed by the Governor in Council.

(5) Such other officers and employees as are required for the purposes of the Office of Fisheries and Aquaculture may be appointed pursuant to the Civil Service Act and that Act applies to those employees.

25B The Minister of Fisheries and Aquaculture has, unless specifically assigned to another member of the Executive Council, the supervision, direction and control of

(a) all matters over which the Legislature has jurisdiction relating to fisheries and aquaculture;

(b) the administration of Acts, orders and regulations relating to fisheries and aquaculture in the Province; and

(c) such other matters as may be assigned to the Minister by the Governor in Council or by statute.

27 The Minister of Agriculture has, unless specifically assigned to another member of the Executive Council, the supervision, direction and control of

(a) all matters relating to agriculture;

(b) the administration of Acts, orders and regulations relating to agriculture in the Province; and

(c) such other matters as may be assigned to the Minister by the Governor in Council or by statute.

36B The Minister of Energy has, unless specifically assigned to another member of the Executive Council, the supervision, direction and control of all matters relating to energy resources, including oil and gas, electricity and renewable energy and other natural resources when used for the production of energy, including

(a) developing and implementing energy policies and programs;

(b) conducting research and analysis related to the effective management, including exploration, development and use, of the Province's energy resources;

(c) liaising with other governments, departments, organizations, advisory groups, regulators and associations to advance the interests and concerns of the Province and facilitating co-ordinated energy policies, activities and programs;

(d) managing the Province's energy resources in order to achieve optimum economic, social and environmental value from the energy sector, including issuing rights to use the Province's oil and gas resources and monitoring the use of these rights;

(e) promoting the efficient, effective and environmentally sound use of energy;

(f) the administration of Acts, orders and regulations relating to the matters referred to in clauses (a) to (e); and

(g) such other matters as may be assigned to the Minister by the Governor in Council or by statute.

36C The Minister is the lead Minister with respect to climate-change matters.

46A The Department of Health Promotion and Protection shall be presided over by the Minister of Health Promotion and Protection who has the supervision, direction and control of all affairs and matters relating to the Department and who shall supervise the performance of the functions of the Department.

46B The Minister of Health Promotion and Protection has, unless specifically assigned to another member of the Executive Council,

(a) the supervision, direction and control of all affairs and matters relating to development and implementation of an integrated and strengthened public health system emphasizing both the promotion and protection of the health and well-being of Nova Scotians by

(c) such other matters as may be assigned to the Minister by the Governor in Council or by statute.

46C In addition to any powers given to the Minister of Health Promotion and Protection by an enactment or the Governor in Council, the Minister may

(a) co-operate with departments of government and support the work of those departments to improve health promotion and protection throughout the Province; and

(b) collaborate with private, public and non-profit sectors to strengthen health promotion and protection initiatives in the Province and to take advantage of improving opportunities to create environments that support improved health.

(a) "ASTM D6751" means the American Society for Testing and Materials specification for biodiesel fuel blend stock for distillate fuels;

(b) "biodiesel" means the mono-alkyl esters of long-chain fatty acids derived from renewable lipids that conform to the ASTM D6751 specification for use in diesel engines and refers to the pure fuel before blending with diesel oil;

(c) "biodiesel blend" means the blend of biodiesel and diesel oil denoted as "Bxxx" with "xxx" representing the percentage by volume of biodiesel contained in the blend;

(d) "consumer" means any person who uses or consumes or causes to be used or consumed gasoline, diesel oil, biodiesel or biodiesel blend in the Province by that person or by that person's family, agent, employee, partner or in connection with any equipment owned or operated by that person or any business in which that person has an interest;

(e) "diesel oil" means the products distilled from petroleum that are capable of developing the power required for operating glow plug ignition system engines and that are commonly known as diesel oil, semi-diesel oil or fuel oil and includes every other product that fulfills the same purpose by the same means and for the same end, except gasoline, biodiesel or biodiesel blend, and includes any other products determined by the Commissioner to be diesel oil;

(f) "gasoline" means the product distilled from petroleum that by a spark plug ignition system develops the power required for operating internal combustion engines, and every other product that fulfills the same purpose by the same means and for the same end, except diesel oil, biodiesel or biodiesel blend, and includes any other product determined by the Commissioner to be gasoline;

(g) "produced in the Province" means the chemical process for separating glycerin from long-chain fatty acids, known as transesterification, that takes place in the Province;

(h) "purchaser" means any person who acquires gasoline, diesel oil, biodiesel or biodiesel blend in the Province for that person, that person's family, agent, employee, partner or in connection with any equipment owned or operated by that person or any business in which that person has an interest;

(i) "tax" means a tax imposed pursuant to this Part and includes all penalties and interest that are, may be or may have been added to a tax pursuant to this Part, and deposits made or required to be made on account of tax liability under this Part.

(2) Every consumer shall pay to Her Majesty tax at the same rate on all diesel oil, biodiesel or biodiesel blend used or consumed by the consumer within the Province and in respect of which the tax has not been paid, except that no tax is payable to Her Majesty on biodiesel or the portion of biodiesel in a biodiesel blend if the biodiesel has been produced in the Province.

(3) The tax shall be paid to the Minister or an agent of Her Majesty at the time and in the manner prescribed by the regulations.

(cb) providing for the manner in which and the evidence necessary to establish what percentage of biodiesel blend is biodiesel produced in the Province;

(cc) notwithstanding Section 5, re-defining, expanding or restricting the meaning of "biodiesel" or "produced in the Province";