BILL NO. 103

(as introduced)

4th Session, 61st General Assembly
Nova Scotia
61 Elizabeth II, 2012

Private Member's Bill

Accountability in Economic Development Assistance Act

The Honourable Stephen McNeil
Annapolis

First Reading: October 29, 2012

Second Reading:

Third Reading:

An Act to Ensure Accountability
in Providing Economic Development Assistance
in Nova Scotia

Be it enacted by the Governor and Assembly as follows:

1 This Act may be cited as the Accountability in Economic Development Assistance Act.

2 In this Act,

(a) "agreement" means a written agreement between a governmental unit and a recipient respecting the provision of economic development assistance to the recipient;

(a) "economic development assistance" means a tax credit, a tax exemption or any other program or incentive provided to a recipient pursuant to an agreement for the purpose of promoting or facilitating

(i) the relocation of the recipient's business to the Province from a location outside of the Province;

(ii) the expansion of the recipient's business; or

(iii) the continued operation of the recipient's business;

(c) "governmental unit" has the same meaning as in the Finance Act;

(d) "Minister" means the Minister of Economic and Rural Development and Tourism;

(e) "recipient" means any person that receives economic development assistance.

3 This Act applies to a recipient in respect of the agreements to which the recipient is a party, whether those agreement are entered into before or after the coming into force of this Act.

4 A recipient shall, upon the request of any person, provide to that person

(a) a copy of each agreement to which the recipient is a party;

(b) a written summary of the economic development assistance provided pursuant to each agreement;

(c) a written summary and explanation of the terms and conditions of each agreement; and

(d) a document identifying the business activities to which each agreement relates.

5 (1) Within 30 days of entering into an agreement, the recipient shall submit to the Minister the documents referred to in Section 4.

(2) Within 30 days of the amendment of an agreement, the recipient shall update the documents referred to in Section 4 and submit the documents to the Minister.

(3) A recipient shall, on a quarterly basis, submit to the Minister a report specifying the recipient's progress in meeting any targets and timelines set out in the terms and conditions of each agreement to which the recipient is a party.

6 The Minister shall publish the documents submitted pursuant to Section 5 on a public website maintained and operated by Her Majesty in right of the Province.

 

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This page and its contents published by the Office of the Legislative Counsel, Nova Scotia House of Assembly, and © 2012 Crown in right of Nova Scotia. Created October 29, 2012. Send comments to legc.office@novascotia.ca.