BILL NO. 420
(as introduced)
1st Session, 64th General Assembly
Nova Scotia
2 Charles III, 2024
Private Member's Bill
Rent Regulation Act
Braedon Clark
Bedford South
First Reading: March 5, 2024
Second Reading:
Third Reading:
Explanatory Notes
Clause 1 sets out the short title of the Bill.
Clauses 2 to 4 allow the Utility and Review Board to set an allowed percentage increase in residential rent payable.
Clause 5 changes the expiry of the Interim Residential Rental Increase Cap Act to be based on a vacancy rate for residential apartments being met.
An Act to Amend Chapter 22
of the Acts of 2021,
the Interim Residential Rental Increase Cap Act
1 This Act may be cited as the Rent Regulation Act.
2 Clause 4(c) of Chapter 22 of the Acts of 2021, the Interim Residential Rental Increase Cap Act, is repealed and the following clause substituted:
- (c) on and after January 1, 2025, the amount determined under Section 4A,
- 4A (1) The Utility and Review Board shall, no later than June 1, 2024, and on July 1st in each subsequent year, set the allowed percentage for increases in rent payable under Section 4 in the following calendar year.
(2) The Utility and Review Board shall establish a process to determine the allowed percentage for increases in rent payable under Section 4.
(3) The process referred to in subsection (2) must take into account housing affordability, cost of living and market conditions and include consultation with relevant stakeholders.
4 Section 5A of Chapter 22, as enacted by Chapter 7 of the Acts of 2023, is amended by striking out "each of the periods referred to in clauses 4(1)(b) and (c)" and substituting "the period referred to in clause 4(1)(b)".
5 Section 7 of Chapter 22 is repealed and the following Section substituted:
- 7 (1) This Act, except Section 5, expires and ceases to have any force or effect on and after January 1st of the first year following a year in which the average provincial vacancy rate for residential apartments in the Province as established by the Canadian Mortgage and Housing Corporation meets or exceeds four per cent.
(2) Section 5 of this Act expires and ceases to have any force or effect one year after the date referred to in subsection (1).
(3) The Governor in Council shall publish a notice of the criteria referred to in subsection (1) being met in the Gazette within one month of the criteria being met.
This page and its contents published by the Office of the Legislative Counsel, Nova Scotia House of Assembly, and © 2024 Crown in right of Nova Scotia. Created March 5, 2024. Send comments to legc.office@novascotia.ca.
