BILL NO. 12

11A (1) For the purpose of computing the tax payable under this Part by an individual who claims a food bank donation tax credit pursuant to Section 49A for a taxation year, the calculation set out in Section 11 shall be adjusted as provided by subsections (2) and (3) of this Section.

(2) The amount to be used for "B" in the formula set out in Section 11 is the lesser of

(a) $200 minus four times the amount of the tax credit claimed under Section 49A for the year; and

(b) that part of the individual's total gifts for the year under Section 118.1 of the Federal Act that was used to determine the amount deducted by the individual for the year under subsection 118.1(3) of that Act minus four times the amount of the tax credit claimed under Section 49A for the year.

(3) The amount to be used for "D" in the formula set out in Section 11 is the amount determined in clause (2)(b).

49A (1) In this Section,

(a) "agricultural product" has the meaning prescribed by the regulations made under this Section;

(b) "eligible donation" means the wholesale value of an agricultural product produced in the Province by an eligible farmer to an eligible food bank in the Province;

(c) "eligible farmer" means

(d) "eligible food bank" means a person or entity that

(2) An eligible farmer may deduct from the amount of tax otherwise payable under this Act, for a taxation year ending after this Section comes into force, a food bank donation tax credit not exceeding the lesser of

(a) the amount of tax payable by the eligible farmer under this Act for the year before making a deduction under this Section; and

(b) the eligible farmer's food bank donation amount for the year as determined under subsection (3).

(3) An eligible farmer's food bank donation amount for a taxation year is determined as follows:

(a) determine the sum of the eligible farmer's eligible donations made in the year and in the previous five taxation years;

(b) multiply the amount determined under clause (a) by 25%;

(c) determine the sum of the amounts, if any, deducted under this Section for the previous five taxation years; and

(d) deduct the amount determined under clause (c) from the amount determined under clause (b) to determine the food bank donation amount for the year.

(4) Where, in a particular taxation year of an eligible farmer that is a member of a partnership, but is not a limited partner, an amount would, if the partnership were a eligible farmer, be determined in respect of the partnership under subsection (3) for its taxation year ending in that particular taxation year, the portion of that amount that may reasonably be considered to be the eligible farmer's share thereof is the amount required to be added in computing the food bank donation amount of the eligible farmer at the end of that particular taxation year.

(5) The Governor in Council may make regulations

(a) prescribing agricultural products;

(b) prescribing rules for determining the wholesale value of agricultural products;

(c) prescribing conditions that must be satisfied for a person or entity to be an eligible food bank;

(d) defining any word or expression used but not defined in this Act;

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

(6) The exercise by the Governor in Council of the authority contained in subsection (5) is regulations within the meaning of the Regulations Act.

(7) The moneys required for the purpose of this Section must be paid out of moneys appropriated for that purpose by the Legislature and, for greater certainty, no deduction may be made pursuant to this Section until the moneys are appropriated by the Legislature.