BILL NO. 157

(as passed, with amendments)

2nd Session, 60th General Assembly
Nova Scotia
57 Elizabeth II, 2008



Government Bill



Financial Measures (2008) Act

CHAPTER 2 OF THE ACTS OF 2008



The Honourable Michael G. Baker, Q.C.
Minister of Finance



First Reading: May 5, 2008 (LINK TO BILL AS INTRODUCED)

Second Reading: May 13, 2008

Third Reading: May 15, 2008 (WITH COMMITTEE AMENDMENTS)

Royal Assent: May 27, 2008

An Act Respecting
Certain Financial Measures

Be it enacted by the Governor and Assembly as follows:

1 This Act may be cited as the Financial Measures (2008) Act.

PART I

CORPORATIONS REGISTRATION ACT

2 (1) Subsection 12(2) of Chapter 101 of the Revised Statutes, 1989, the Corporations Registration Act, as amended by Chapter 3 of the Acts of 2004 and Chapter 9 of the Acts of 2007, is further amended by striking out "four" in the third line and substituting "sixty-five".

(2) Subsection 12(2A) of Chapter 101, as enacted by Chapter 3 of the Acts of 2004 and amended by Chapter 9 of the Acts of 2007, is further amended by striking out "one dollar and forty-six" in the second line and substituting "three dollars and thirty-nine".

(3) Subsection 12(2B) of Chapter 101, as enacted by Chapter 3 of the Acts of 2004 and amended by Chapter 9 of the Acts of 2007, is further amended by striking out "thirty-four dollars and ninety-six" in the second and third lines and substituting "thirty-nine dollars and forty-two".

(4) Subsection 12(2C) of Chapter 101, as enacted by Chapter 3 of the Acts of 2004 and amended by Chapter 9 of the Acts of 2007, is further amended by striking out "eighty-eight dollars and thirty-six" in the second and third lines and substituting "ninety-three dollars and eighty-four".

(5) Subsection 12(3A) of Chapter 101, as enacted by Chapter 3 of the Acts of 2004 and amended by Chapter 9 of the Acts of 2007, is further amended by striking out "two thousand seven hundred and fifty" in the third line and substituting "one thousand".

(6) Subsection 12(7) of Chapter 101, as amended by Chapter 3 of the Acts of 2004 and Chapter 9 of the Acts of 2007, is further amended by striking out "eighty-eight dollars and thirty-six cents" in the second last and last lines and substituting "ninety-three dollars and eighty-four cents".

(7) Subsection 12(8) of Chapter 101, as amended by Chapter 3 of the Acts of 2004 and Chapter 9 of the Acts of 2007, is further amended by striking out "fifty-nine dollars and twenty-four cents" in the fourth line and substituting "sixty-seven dollars and ninety-seven cents".

PART II

CORRECTIONS ACT

3 Section 26 of Chapter 103 of the Revised Statutes, 1989, the Corrections Act, as amended by Chapter 19 of the Acts of 1990 and Chapter 7 of the Acts of 1994-95, is further amended by adding immediately after subsection (3) the following subsection:

PART III

EDUCATION ACT

4 Section 73 of Chapter 1 of the Acts of 1995-96, the Education Act, is amended by adding immediately after subsection (2) the following subsection:

PART IV

GYPSUM MINING INCOME TAX ACT

5 Subsection 7(1) of Chapter 190 of the Revised Statutes, 1989, the Gypsum Mining Income Tax Act, is amended by striking out "eighteen cents per ton of the gypsum so mined or at such higher rate as is determined by the Governor in Council" in the seventh, eighth and ninth lines and substituting "fifty-two cents per ton of the gypsum so mined".

6 Section 8 of Chapter 190 is amended by striking out "or at such higher rate as is determined by the Governor in Council" in the third and fourth lines.

PART V

HOUSING ACT

7 Chapter 211 of the Revised Statutes, 1989, the Housing Act, is amended by adding immediately after Section 6 the following Section:

PART VI

INCOME TAX ACT

8 Subsection 10(3) of Chapter 217 of the Revised Statutes, 1989, the Income Tax Act, is repealed and the following subsection substituted:

9 Chapter 217 is further amended by adding immediately after Section 10A the following Section:

10 Section 11 of Chapter 217 is amended by

(a) striking out "the individual claims not exceeding the amount" in the fifth and sixth lines; and

(b) striking out paragraph D and substituting the following:

11 Section 12A of Chapter 217 is repealed and the following Section substituted:

12 Chapter 217 is further amended by adding immediately after Section 12A the following Section:

13 Subclause 19(1)(b)(ii) of Chapter 217, as enacted by Chapter 6 of the Acts of 2005, is amended by adding ", 10B" immediately after "10" in the last line.

14 Subclause 23(1)(b)(i) of Chapter 217, as enacted by Chapter 9 of the Acts of 2007, is amended by

(a) striking out "11, 12, 12A, 14, 15, 17, 18, 36 and 38A" in the second and third lines and substituting "11, 12, 12A, 12B, 14, 15, 17 and 18"; and

(b) adding "10B," immediately after "Sections" in the second line.

15 Section 24 of Chapter 217, as enacted by Chapter 9 of the Acts of 2007, is amended by

(a) adding "10B," immediately after "Sections" in the fourth line; and

(b) adding ", 12B" immediately after "12" in the fifth line.

16 Section 25 of Chapter 217, as enacted by Chapter 9 of the Acts of 2007, is amended by adding "10B," immediately after "Sections" in the eighth line.

17 Section 26 of Chapter 217, as enacted by Chapter 9 of the Acts of 2007, is amended by

(a) adding ", 12B" immediately after "12" in the first line; and

(b) adding "10B," immediately after "Sections" in the first line.

18 Section 27 of Chapter 217, as enacted by Chapter 9 of the Acts of 2007, is amended by

(a) striking out "and 36" in the first line;

(b) adding "10B," immediately after "Sections" in the second line of clause (a);

(c) adding ", 12B" immediately after "12A" in the third line of clause (a); and

(d) striking out ", 18 and 36" in the third line of clause (a) and substituting "and 18".

19 (1) Clause 35(1)(b) of Chapter 217 is repealed and the following clause substituted:

(2) Subsection 35(4) of Chapter 217, as enacted by Chapter 9 of the Acts of 2007, is amended by striking out "paragraph 128(2)(e)" in the third line and substituting "subsection 70(2), paragraphs 104(23)(d) and 128(2)(e) and subsection 150(4)".

20 The heading immediately preceding Section 38A of Chapter 217, as enacted by Chapter 9 of the Acts of 2007, is amended by adding "and Volunteer Ground Search and Rescue Worker" immediately after "Firefighter".

21 (1) Subsection 38A(1) of Chapter 217, as enacted by Chapter 9 of the Acts of 2007, is amended by striking out the period at the end of clause (d) and substituting a semicolon and by adding the following clause:

(2) Subsection 38A(2) of Chapter 217, as enacted by Chapter 9 of the Acts of 2007, is amended by adding "or (3A)" immediately after "(3)" in the first line.

(3) Section 38A of Chapter 217, as enacted by Chapter 9 of the Acts of 2007, is further amended by adding immediately after subsection (3) the following subsection:

22 (1) Subsection 47(2) of Chapter 217, as amended by Chapter 2 of the Acts of 2006 and Chapter 9 of the Acts of 2007, is further amended by

(a) striking out paragraphs (a)(ii)(B) and (C) and substituting the following paragraphs:

(b) striking out subclause (a)(iv) and substituting the following subclauses:

and

(c) striking out clause (b) and substituting the following clause:

(2) Clause 47(2A)(b) of Chapter 217 is repealed and the following clause substituted:

23 Clauses 47A(2)(a) and (b) of Chapter 217 are repealed and the following clauses substituted:

PART VII

INSURANCE PREMIUMS TAX ACT

24 Subclause 2(a)(ii) of Chapter 232 of the Revised Statutes, 1989, the Insurance Premiums Tax Act, is amended by striking out "to the extent of not less than fifty per cent thereof derived from the insurance of farm property or" in the fourth and fifth lines.

25 Section 3 of Chapter 232 is amended by adding immediately after subsection (3) the following subsection:

26 Chapter 232 is further amended by adding immediately after Section 14 the following Section:

PART VIII

MOTOR VEHICLE ACT

27 Subsection 68(1) of Chapter 293 of the Revised Statutes, 1989, the Motor Vehicle Act, as amended by Chapter 9 of the Acts of 2007, is further amended by striking out "one hundred and six dollars and eighty cents" in the fourth line and substituting "one hundred and eight dollars and eighty-three cents".

PART IX

PERSONAL PROPERTY SECURITY ACT

28 Subsection 44A(1) of Chapter 13 of the Acts of 1995-96, the Personal Property Security Act, as enacted by Chapter 3 of the Acts of 2004 and amended by Chapter 9 of the Acts of 2007, is further amended by

(a) striking out "22.75"' in the fifth line of clause (a) and substituting "23.18";

(b) striking out "7.96" in the seventh line of clause (a) and substituting "8.10";

(c) striking out "534.00" in the fourth line of clause (b) and substituting "544.15";

(d) striking out "7.96" in the fifth line of clause (c) and substituting "8.10";

(e) striking out "534.00" in the fourth line of clause (d) and substituting "544.15";

(f) striking out "10.68" in clause (e) and substituting "10.90"; and

(g) striking out "534.00" in the second line of clause (f) and substituting "544.15".

PART X

REVENUE ACT

29 Section 31B of Chapter 17 of the Acts of 1995-96, the Revenue Act, is repealed and the following Section substituted:

30 Subclause 32(f)(i) of Chapter 17 is repealed and the following subclause substituted:

PART XI

TRUST AND LOAN COMPANIES ACT

31 Section 16A of Chapter 7 of the Acts of 1991, the Trust and Loan Companies Act, is repealed and the following Section substituted:

PART XII

EFFECTIVE DATES

32 (1) This Act, except Sections 2 to 6 and 8 to 31, comes into force on such day as the Governor in Council orders and declares by proclamation.

(2) Section 8, clauses 18(a) and (d) and Sections 19 and 22 have effect on and after January 1, 2007, upon the Governor in Council so ordering by proclamation.

(3) Sections 5, 6 and 12, clause 14(a), clause 15(b), clause 17(a) and clause 18(c) and Sections 20, 21, 23, 29 and 30 have effect on and after January 1, 2008.

(4) Sections 10 and 24 to 26 have effect on and after January 1, 2008, upon the Governor in council so ordering by proclamation.

(5) Sections 2 to 4, 27, 28 and 31 have effect on and after April 1, 2008, upon the Governor in Council so ordering by proclamation.

(6) Sections 9, 11 and 13, clause 14(b), clause 15(a), Section 16, clause 17(b) and clause 18(b) have effect on and after January 1, 2009, upon the Governor in Council so ordering by proclamation.


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