BILL NO. 304

(as introduced)

1st Session, 64th General Assembly
Nova Scotia
1 Charles III, 2023

 

Private Member's Bill

 

Supporting Homebuyers, Homeowners
and Housing Development Act

 

Braedon Clark
Bedford South

First Reading: April 5, 2023

Second Reading:

Third Reading:

 

An Act to Support
First-time Homebuyers, Homeowners
and New Housing Development

Be it enacted by the Governor and Assembly as follows:

1 This Act may be cited as the Supporting Homebuyers, Homeowners and Housing Development Act.

2 Subject to Section 6, the Minister of Municipal Affairs and Housing shall

(a) expand the eligibility criteria for the Down Payment Assistance Program by increasing the maximum purchase price of an eligible property to

(i) $600,000 for properties in the Halifax Regional Municipality and East Hants,

(ii) $350,000 in the Northern and Eastern Regions, and

(iii) $450,000 in the Annapolis Valley, West Hants and the South Shore; and

(b) convert 50% of the loans provided under the Down Payment Assistance Program to grants.

3 Subject to Section 6, the Minister of Municipal Affairs and Housing shall expand the eligibility criteria for the Affordable Housing Development Program by allowing for capital contributions to homeowners who create secondary suites on their properties, if the secondary suites create affordable housing.

4 Subject to Section 6, the Minister of Natural Resources and Renewables shall expand the eligibility criteria for Efficiency Nova Scotia's home energy assessment and heating system rebate programs by allowing for assessments and rebates for dwellings with up to eight residential units.

5 (1) The Governor in Council may make regulations

(a) respecting eligibility or conditions for loan conversions under clause 2(b);

(b) respecting eligibility for capital contributions under Section 3;

(c) respecting eligible dwellings under Section 4;

(d) defining any word or expression used in this Act.

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

6 The money required for the purpose of this Act must be paid out of money appropriated for that purpose by the Legislature.

 

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