HONOURABLE COLIN HANSEN
MINISTER OF FINANCE AND MINISTER RESPONSIBLE
FOR SMALL BUSINESS AND DEPUTY PREMIER

Bill 2 — 2011

BUDGET MEASURES IMPLEMENTATION ACT, 2011

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:

Balanced Budget and Ministerial Accountability Act

SECTION 1: [Balanced Budget and Ministerial Accountability Act, section 5] is consequential to the addition of section 6 (1.3) by this Bill.

1 Section 5 (1) of the Balanced Budget and Ministerial Accountability Act, S.B.C. 2001, c. 28, is amended by striking out "section 6 (1.1) or (1.2)" and substituting "section 6 (1.1), (1.2) or (1.3)".

SECTION 2: [Balanced Budget and Ministerial Accountability Act, section 6] requires the Minister of Finance to make public a revised statement reflecting any reallocation of spending authority in relation to operating expenses that occurs under a vote.

2 Section 6 is amended by adding the following subsection:

(1.3) If a reallocation of spending authority in relation to operating expenses occurs during a fiscal year among members of the Executive Council under a vote that authorizes spending by more than one member, within 90 days after the reallocation the minister must make public a statement of the information referred to in subsection (1) (a) in relation to that fiscal year, revised to reflect the reallocation.

Carbon Tax Act

SECTION 3: [Carbon Tax Act, section 1] adds definitions of "biomethane" and "biomethane credit" and amends the definition of "fuel".

3 Section 1 (1) of the Carbon Tax Act, S.B.C. 2008, c. 40, is amended

(a) by adding the following definitions:

"biomethane" means methane produced from biomass;

"biomethane credit" means a credit provided under section 14.1; , and

(b) by repealing paragraph (b) in the definition of "fuel" and substituting the following:

(b) subject to section 13.1, biomethane; .

SECTION 4: [Carbon Tax Act, section 13.1] provides for the calculation of tax and application of provisions of the Act in respect of certain mixtures or blends containing biomethane.

4 The following section is added to Part 3:

Calculation of tax for certain biomethane blends or mixtures

13.1  (1) If a mixture or blend contains a combined amount of a fuel and biomethane and the proportions of the fuel and biomethane in the combined amount cannot be determined,

(a) for the purpose of applying this Act and the regulations under this Act, the biomethane is deemed to be fuel of the same type or subcategory of a type of fuel as the fuel, and

(b) the total amount of tax payable for the fuel and the biomethane is to be determined by multiplying the rate of tax for the fuel under this Act by the combined amount of the fuel and the biomethane.

(2) If a mixture or blend contains a combined amount of natural gas, another fuel and biomethane, and the proportions of natural gas, the other fuel and biomethane in the combined amount cannot be determined,

(a) for the purpose of applying this Act and the regulations under this Act, the other fuel and the biomethane are deemed to be natural gas, and

(b) the total amount of tax payable for the natural gas, the other fuel and the biomethane is to be determined by multiplying the rate of tax for natural gas under this Act by the combined amount of the natural gas, the other fuel and the biomethane.

SECTION 5: [Carbon Tax Act, heading to Part 4] amends the heading to Part 4 to add a reference to credits.

5 The heading to Part 4 is repealed and the following substituted:

Part 4 — Exemptions and Credits .

SECTION 6: [Carbon Tax Act, Division 1 of Part 4] adds a heading to create Division 1 of Part 4 of the Act.

6 The following heading is added immediately before section 14:

Division 1 — Exemptions .

SECTION 7: [Carbon Tax Act, Division 2 of Part 4] adds Division 2 to Part 4 of the Act, establishing a biomethane credit to be provided to purchasers in accordance with the regulations and establishing an administrative scheme for the provision of the biomethane credit.

7 The following Division is added to Part 4:

Division 2 — Biomethane Credit

Biomethane credit

14.1  Subject to the regulations, a retail dealer of natural gas, on behalf of the government, must provide a credit to a purchaser at the prescribed time and in an amount determined in the prescribed manner.

Refund to retail dealer of natural gas

14.2  If the director is satisfied that

(a) a retail dealer of natural gas has provided a biomethane credit to a purchaser in respect of a sale,

(b) the retail dealer has remitted to the director the amount of tax payable in respect of the sale, without deduction for the biomethane credit, and

(c) the purchaser was entitled to receive the biomethane credit,

the director, subject to the regulations, must pay from the consolidated revenue fund to the retail dealer a refund of a portion of the tax remitted by the retail dealer in respect of the sale in an amount determined in the prescribed manner.

Recovery of amount by retail dealer of natural gas

14.3  If a retail dealer of natural gas

(a) provides a credit to a person in respect of a sale as if it were a biomethane credit, and

(b) does not receive a refund under section 14.2 because the person was not entitled to receive a biomethane credit in respect of the sale,

the retail dealer may by action in a court recover from the person the amount credited.

SECTION 8: [Carbon Tax Act, section 36] provides for refunds to retail dealers of natural gas in respect of amounts remitted as collected taxes in specified circumstances.

8 Section 36 is amended by adding the following subsection:

(3) If the director is satisfied that a retail dealer of natural gas has remitted to the director an amount as collected taxes that the retail dealer neither collected nor was required to collect under this Act, the director must refund the amount to the retail dealer from the consolidated revenue fund.

SECTION 9: [Carbon Tax Act, section 56] provides for an appeal to the minister in respect of a refund of tax remitted under the Act.

9 Section 56 (1) (a) is amended by adding "paid or remitted" after "tax".

SECTION 10: [Carbon Tax Act, section 84] authorizes the Lieutenant Governor in Council to make regulations in relation to the biomethane credit established in the Act.

10 Section 84 is amended

(a) in subsection (3) by adding the following paragraphs:

(o.1) respecting the provision of biomethane credits, including, without limitation, the following:

(i) limiting the retail dealers of natural gas or classes of retail dealers of natural gas, to whom section 14.1 applies;

(ii) limiting the purchasers or classes of purchasers, to whom section 14.1 applies;

(iii) establishing circumstances in which biomethane credits must or must not be provided;

(iv) setting conditions or limitations on the provision of biomethane credits;

(v) respecting the duties of retail dealers of natural gas who are required to provide biomethane credits;

(o.2) respecting refunds under section 14.2, including, without limitation, the following:

(i) establishing circumstances in which refunds must or must not be paid;

(ii) setting conditions or limitations on the payment of refunds;

(iii) respecting the repayment of refunds to the government by retail dealers of natural gas; , and

(b) by adding the following subsection:

(6.3) A regulation that relates to Division 2 of Part 4 made before December 31, 2011 under this section may be made retroactive to February 16, 2011 or a later date, and if made retroactive is deemed to have come into force on the specified date.

Health Authorities Act

SECTION 11: [Health Authorities Act, section 15] provides that the exemption from taxation is subject to the regulations and requires property to be used by or on behalf of the board in order for the property to be eligible for the exemption from taxation.

11 Section 15 (1) of the Health Authorities Act, R.S.B.C. 1996, c. 180, is amended by striking out "Property vested" and substituting "Subject to any regulations under section 21 (2) (s), property vested" and by adding "by or on behalf of the board" after "is being used".

SECTION 12: [Health Authorities Act, section 21] authorizes regulations to limit or impose conditions on the exemption under section 15 (1) of the Act.

12 Section 21 (2) is amended by adding the following paragraph:

(s) to limit the exemption from property taxation under section 15 (1) or to impose conditions on that exemption.

Home Owner Grant Act

SECTION 13: [Home Owner Grant Act, section 17]

13 Section 17 of the Home Owner Grant Act, R.S.B.C. 1996, c. 194, is amended

(a) by adding the following subsection:

(0.1) In this section:

"due date" means the due date stated on a notice of disentitlement under subsection (1) (b);

"notice of disentitlement" means a notification provided by the collector or grant administrator under subsection (1);

"notice recipient" means a person to whom a notice of disentitlement is provided under subsection (1);

"prescribed rate" means the rate of interest prescribed by the Lieutenant Governor in Council under section 11 (3) of the Taxation (Rural Area) Act;

"request for review" means a request for a review of a notice recipient's entitlement under subsection (1) (c). ,

(b) by repealing subsection (1) (b) and substituting the following:

(b) that the person must pay to the Minister of Finance, on or before the due date stated on the notice of disentitlement, the amounts described in subsection (1.01) (a) and (b), ,

(c) in subsection (1) (c) by striking out "stated on the notice of disentitlement",

(d) in subsection (1) (d) by striking out "or request a review by that date" and by striking out "subsections (4) and (7)." and substituting "subsections (4.1) and (5) or (7) and (8).",

(e) by adding the following subsection:

(1.01) Subject to subsection (12), a notice recipient must pay to the Minister of Finance, on or before the due date, the total of the following amounts:

(a) the amount, referred to in subsection (1), that the collector or grant administrator determined the notice recipient was not entitled to receive;

(b) interest on that amount at the prescribed rate from the date of approval of the grant or low-income grant supplement to the date of issue of the notice of disentitlement. ,

(f) in subsection (1.1) by striking out "under subsection (1) (c)",

(g) in subsection (2) by striking out "the person" and substituting "the notice recipient",

(h) by repealing subsection (3) (a) and substituting the following:

(a) refund out of the consolidated revenue fund to the notice recipient any excess amount paid by the notice recipient, including any excess interest, and ,

(i) in subsection (3) (b) by striking out "to that person" and substituting "to the notice recipient" and by striking out "at the rate referred to in subsection (1) (b)" and substituting "at the prescribed rate",

(j) by repealing subsection (4) and substituting the following:

(4) Subject to subsection (12), if a notice recipient does not pay, on or before the due date, the total amount owed under subsection (1.01) in respect of a grant or low-income grant supplement, the notice recipient must, in addition, pay to the Minister of Finance interest on the unpaid amount including interest, at the prescribed rate, from the date of issue of the notice of disentitlement.

(4.1) If a notice recipient does not pay the total amount owed under subsections (1.01) and (4) in respect of a grant, the grant administrator may direct the collector to place the unpaid amount

(a) on the tax roll of any jurisdiction in British Columbia in which any property of the notice recipient is located, and

(b) against the notice recipient's property. ,

(k) in subsection (5) (a) by striking out "at the rate referred to in subsection (1) (b)" and substituting "at the prescribed rate",

(l) in subsection (6) by striking out "a person's property," and substituting "a notice recipient's property," and by striking out "the person." and substituting "the notice recipient.",

(m) by repealing subsection (7) and substituting the following:

(7) Subject to subsection (7.1), if a notice recipient does not pay the total amount owed under subsections (1.01) and (4), the grant administrator may

(a) issue a certificate specifying

(i) the total amount owed, and

(ii) the name of the notice recipient, and

(b) file the certificate with the Supreme Court.

(7.1) Subsection (7) applies to an amount owed in respect of

(a) a low-income grant supplement, and

(b) a grant, if the notice recipient does not have any property on the tax roll of any jurisdiction in British Columbia. ,

(n) in subsection (9) by striking out "under subsection (5)" and substituting "under subsection (4.1) or (5)",

(o) by repealing subsection (11), and

(p) by adding the following subsections:

(12) Despite the Financial Administration Act, if the grant administrator is satisfied that a notice recipient, in applying for a grant or low-income grant supplement, relied on incorrect information or advice provided by a person who was employed in or retained under a contract to perform services for

(a) the government, or

(b) a municipality,

the grant administrator may, on or before the date that is one year after the date that the notice of disentitlement was issued, waive or cancel all or part of any interest otherwise payable by a notice recipient under subsection (1.01) (b) or (4).

(13) If interest is waived or cancelled under subsection (12), the grant administrator must

(a) refund out of the consolidated revenue fund to the notice recipient any of the waived or cancelled interest paid by the notice recipient, and

(b) pay to the notice recipient interest on the amount refunded at the prescribed rate from the date of payment to the Minister of Finance to the date of refund.

International Business Activity Act

SECTIONS 14 AND 15: [International Business Activity Act, sections 1 and 2] provide for the inclusion of foreign banks.

14 Section 1 of the International Business Activity Act, S.B.C. 2004, c. 49, is amended

(a) by adding the following definitions:

"Canadian banking business" has the same meaning as in section 248 (1) of the federal Act;

"foreign bank" has the same meaning as in section 2 of the Bank Act (Canada); , and

(b) by repealing the definition of "international financial business" and substituting the following:

"international financial business" means,

(a) in relation to a corporation other than a foreign bank, a business

(i) that is a qualifying financial business carried on by the corporation through a fixed place of business in British Columbia, and

(ii) all the activities of which are international financial activities, and

(b) in relation to a corporation that is a foreign bank, a business

(i) that is a Canadian banking business carried on by the corporation through a fixed place of business in British Columbia, and

(ii) all the activities of which are international financial activities; .

15 Section 2 is amended by adding the following subsection:

(3.2) An activity referred to in subsection (2) is not an international financial activity of a corporation that is a foreign bank unless the activity is carried on by the corporation with a person other than the foreign bank.

SECTION 16: [International Business Activity Act, section 9] provides for the registration of a corporation that is a foreign bank.

16 Section 9 (1) (a) is repealed and the following substituted:

(a) the corporation

(i) was incorporated in Canada and, since that incorporation, has not been continued, amalgamated or otherwise transferred by a similar process into a foreign jurisdiction, or

(ii) is a foreign bank; .

SECTIONS 17 AND 18: [International Business Activity Act, sections 17 and 18] are consequential to the other amendments to the International Business Activity Act included in this Bill.

17 Section 17 is amended by adding "or 18.1, whichever is applicable" after "as determined under section 18".

18 Section 18 (1) is amended by striking out "a corporation's eligible proportion of income for a taxation year" and substituting "the eligible proportion of income for a taxation year for a corporation that is not a foreign bank".

SECTION 19: [International Business Activity Act, section 18.1] adds a section respecting the calculation of tax refunds for foreign banks.

19 The following section is added:

Eligible proportion of income — foreign bank

18.1  (1) Subject to subsection (2), the eligible proportion of income for a taxation year for a corporation that is a foreign bank is the lesser of one and the proportion calculated by the following formula:

eligible proportion = total adjusted IB income

adjusted income x
BC taxable income

federal taxable income
where
adjusted income  =  the corporation's income as determined under Division D of Part I of the federal Act, as if the only deduction permitted under section 115 (1) (d) of the federal Act is the deduction referred to in section 111 (1) (b) of the federal Act and as if section 115 (1) (f) of the federal Act does not apply, for the taxation year;
BC taxable income  =  the corporation's taxable income earned in the year in British Columbia, as defined in section 13.3 [definitions — corporate income tax] of the Income Tax Act, for the taxation year;
federal taxable income  =  the corporation's taxable income earned in Canada, as defined in section 248 (1) of the federal Act, for the taxation year;
total adjusted IB income  =  the corporation's total adjusted IB income for the taxation year, as determined under section 19.001.

(2) A corporation's eligible proportion of income for a taxation year is zero if the corporation's adjusted income, BC taxable income, federal taxable income or total adjusted IB income is zero or less than zero.

SECTION 20: [International Business Activity Act, section 19] is consequential to the other amendments to the International Business Activity Act included in this Bill.

20 Section 19 is amended by adding "other than a foreign bank" after "If a corporation".

SECTION 21: [International Business Activity Act, section 19.001] adds a section respecting the calculation of tax refunds for foreign banks.

21 The following section is added:

Total adjusted IB income for foreign bank

19.001  If a corporation that is a foreign bank claims a tax refund under section 17 in respect of an international financial business, for the purpose of section 18.1, the corporation's total adjusted IB income for a taxation year is the total of all amounts, each of which is the corporation's adjusted IB income, as calculated by the following formula, for the taxation year from a particular source that is an international financial business carried on by the corporation:

adjusted IB income = IB income — inducements

where

IB income  =  the amount, if any, by which the income, as determined under section 115 (1) (a) (ii) of the federal Act, exceeds the losses, as determined under section 115 (1) (c) of the federal Act, of the international financial business as if the business's only income for the taxation year was from international financial activities for that part of the taxation year that the corporation was a registered corporation;
inducements  =  the amount included under section 12 (1) (x) of the federal Act in computing the IB income of the international financial business for the taxation year.

SECTION 22: [International Business Activity Act, section 19.03] adds a subsection relating to the calculation of income for foreign banks.

22 Section 19.03 is amended by adding the following subsection:

(3) For the purpose of calculating under section 19.001 the IB income of a corporation's international financial business, for a taxation year, the corporation must deduct for the taxation year all amounts that have been deducted by the corporation in determining the corporation's income or loss under section 115 (1) (a) (ii) and (c) of the federal Act for the purposes of that Act for the taxation year that

(a) relate to the international financial business for which a claim is made under this Act by the corporation, or

(b) are amounts paid or payable by the corporation as salary, wages or other remuneration or benefits to an individual registered under section 14 (5) (b) or (c) for all or part of the year during which the individual was registered, whether or not the amounts relate to a type of international financial business.

School Act

SECTION 23: [School Act, section 130]

(a) clarifies that a purpose is to be prescribed by regulation, and

(b) provides that the exemption from taxation under the Act does not apply to a parcel of land that is classified in a property class or used for a purpose prescribed by the Lieutenant Governor in Council.

23 Section 130 of the School Act, R.S.B.C. 1996, c. 412, is amended

(a) by repealing subsection (2) (c) and substituting the following:

(c) used for a purpose prescribed by the Lieutenant Governor in Council. , and

(b) by adding the following subsection:

(4) Subsection (1) (b) does not apply to a parcel of land that

(a) is classified in a property class, as defined in section 120 (1), that is prescribed by the Lieutenant Governor in Council for the purposes of this section, or

(b) is used for a purpose prescribed by the Lieutenant Governor in Council.

Taxation (Rural Area) Act

SECTION 24: [Taxation (Rural Area) Act, section 12] provides a due date for taxes levied in a supplementary taxation notice mailed under section 21 (8.2) of the Act added by this Bill.

24 Section 12 (1) of the Taxation (Rural Area) Act, R.S.B.C. 1996, c. 448, is amended by striking out "section 21 (7)" and substituting "section 21 (7) or (8.2)".

SECTION 25: [Taxation (Rural Area) Act, section 21] authorizes the Surveyor of Taxes to prepare a supplementary taxation roll correcting certain types of errors on a taxation roll and requires the Surveyor of Taxes to mail a supplementary taxation notice to every person named on the supplementary taxation roll.

25 Section 21 is amended

(a) by adding the following subsections:

(0.1) In this section, "taxing authority" means an entity that is authorized under an enactment to receive revenue from taxes imposed or collected for it by the Surveyor of Taxes.

(8.1) If, on or before December 31 of the calendar year for which a taxation roll has been completed, the Surveyor of Taxes finds that an incorrect amount of taxes was levied as a result of

(a) an error in an entry on the taxation roll in relation to a parcel of land that is caused by incorrectly

(i) identifying a taxing authority,

(ii) including the parcel or another parcel of land in a particular area, or

(iii) excluding the parcel or another parcel of land from a particular area, or

(b) an error in the preparation of the taxation roll by a ministry person,

the Surveyor of Taxes may prepare a supplementary taxation roll correcting the error.

(8.2) If a supplementary taxation roll is prepared under subsection (8.1), the Surveyor of Taxes must, on or before December 31 of the year following the calendar year for which the supplementary taxation roll was prepared, mail to every person named on the supplementary taxation roll a supplementary taxation notice. , and

(b) in subsection (9) by striking out "subsections (2), (3), (7) and (8)" and substituting "subsections (2), (3), (7), (8) and (8.2)".

SECTION 26: [Taxation (Rural Area) Act, section 24] provides that refunds under section 24 of the Act are paid from the consolidated revenue fund.

26 Section 24 (3) is amended by adding "from the consolidated revenue fund" after "must refund".

University Act

SECTION 27: [University Act, section 54]

27 Section 54 of the University Act, R.S.B.C. 1996, c. 468, is amended

(a) in subsection (1) by adding "by or on behalf of the university" after "held or used", and

(b) by adding the following subsections:

(3) If property vested in a university is held or used by or on behalf of a student society affiliated with the university, so long as it is held or used for university purposes, the property continues to be entitled to the exemption from taxation provided in this section.

(4) Subsections (1), (2) and (3) do not apply to property used for a prescribed purpose.

SECTION 28: [University Act, section 71] authorizes regulations for the purpose of section 54 (4) of the Act.

28 Section 71 (2) is amended by striking out "and" at the end of paragraph (b) and by adding the following paragraph:

(b.1) prescribing purposes for the purpose of section 54 (4), and .

Transitional Provisions

SECTION 29: [Health Authorities Act and University Act transition] until the earlier of 2 specified dates, provides for the continued application of a former provision in respect of a property that was exempt under the former provision for the purposes of the 2010 taxation year.

Health Authorities Act and University Act transition

29  (1) In this section, "former provision" means

(a) section 15 of the Health Authorities Act, as that section read on December 31, 2009, or

(b) section 54 of the University Act, as that section read on December 31, 2009.

(2) This section applies despite

(a) section 15 of the Health Authorities Act, as amended by this Act, and

(b) section 54 of the University Act, as amended by this Act.

(3) If property was exempt from taxation under a former provision for the purposes of the 2010 taxation year, the former provision continues to apply in respect of that property until the earlier of

(a) December 31, 2015, and

(b) December 31 of the taxation year in which there is a change in who is the holder or occupier of the property.

SECTION 30: [Health Authorities Act and University Act amendments — retroactive effect] provides that sections 11, 12, 27 and 28 of this Bill are effective for the purposes of assessment and taxation for the 2011 taxation year.

Health Authorities Act and University Act
amendments — retroactive effect

30  Sections 11, 12, 27 and 28 of this Act are retroactive to the extent necessary to give them effect for the purposes of the 2011 taxation year.

SECTION 31: [Health Authorities Act and University Act transition — retroactive regulations for 2011 taxation year] provides that a regulation may be made under section 21 (2) (s) of the Health Authorities Act or section 71 (2) (b.1) of the University Act applicable for the purposes of the 2011 taxation year, provided the regulation is made on or before December 31, 2011.

Health Authorities Act and University Act
transition — retroactive regulations for 2011 taxation year

31  (1) Despite section 74 (5) of the Assessment Act, the Lieutenant Governor in Council may make regulations under section 21 (2) (s) of the Health Authorities Act or section 71 (2) (b.1) of the University Act retroactive to the extent necessary to apply for the purposes of the 2011 taxation year.

(2) A regulation may not be made under subsection (1) after December 31, 2011.

SECTION 32: [Home Owner Grant Act transition] provides that the provisions of the Home Owner Grant Act authorizing the grant administrator to waive or cancel interest do not apply in respect of a notice of disentitlement provided before February 16, 2011.

Home Owner Grant Act transition

32  Section 17 (12) and (13) of the Home Owner Grant Act as enacted by this Act does not apply in respect of a notice of disentitlement provided under section 17 (1) of the Home Owner Grant Act before February 16, 2011.

SECTION 33: [School Act transition — retroactive regulations for 2011 taxation year] provides that a regulation may be made under section 130 (4) of the Act applicable for the purposes of the 2011 taxation year, provided the regulation is made on or before December 31, 2011.

School Act transition — retroactive regulations for 2011 taxation year

33  (1) Despite section 74 (5) of the Assessment Act, the Lieutenant Governor in Council may make regulations under section 130 (4) of the School Act retroactive to the extent necessary to apply for the purposes of the 2011 taxation year.

(2) A regulation may not be made under subsection (1) after December 31, 2011.

Commencement

34  The provisions of this Act referred to in column 1 of the following table come into force as set out in column 2 of the table:

Item Column 1
Provisions of Act
Column 2
Commencement
1 Anything not elsewhere covered by this table The date of Royal Assent
2 Sections 1 and 2 April 1, 2010
3 Sections 3 to 10 February 16, 2011
4 Section 13 February 16, 2011
5 Sections 14 to 22 April 1, 2011
6 Sections 24 to 26 January 1, 2011
7 Section 32 February 16, 2011

 
Explanatory Notes

SECTION 1: [Balanced Budget and Ministerial Accountability Act, section 5] is consequential to the addition of section 6 (1.3) by this Bill.

SECTION 2: [Balanced Budget and Ministerial Accountability Act, section 6] requires the Minister of Finance to make public a revised statement reflecting any reallocation of spending authority in relation to operating expenses that occurs under a vote.

SECTION 3: [Carbon Tax Act, section 1] adds definitions of "biomethane" and "biomethane credit" and amends the definition of "fuel".

SECTION 4: [Carbon Tax Act, section 13.1] provides for the calculation of tax and application of provisions of the Act in respect of certain mixtures or blends containing biomethane.

SECTION 5: [Carbon Tax Act, heading to Part 4] amends the heading to Part 4 to add a reference to credits.

SECTION 6: [Carbon Tax Act, Division 1 of Part 4] adds a heading to create Division 1 of Part 4 of the Act.

SECTION 7: [Carbon Tax Act, Division 2 of Part 4] adds Division 2 to Part 4 of the Act, establishing a biomethane credit to be provided to purchasers in accordance with the regulations and establishing an administrative scheme for the provision of the biomethane credit.

SECTION 8: [Carbon Tax Act, section 36] provides for refunds to retail dealers of natural gas in respect of amounts remitted as collected taxes in specified circumstances.

SECTION 9: [Carbon Tax Act, section 56] provides for an appeal to the minister in respect of a refund of tax remitted under the Act.

SECTION 10: [Carbon Tax Act, section 84] authorizes the Lieutenant Governor in Council to make regulations in relation to the biomethane credit established in the Act.

SECTION 11: [Health Authorities Act, section 15] provides that the exemption from taxation is subject to the regulations and requires property to be used by or on behalf of the board in order for the property to be eligible for the exemption from taxation.

SECTION 12: [Health Authorities Act, section 21] authorizes regulations to limit or impose conditions on the exemption under section 15 (1) of the Act.

SECTION 13: [Home Owner Grant Act, section 17]

SECTIONS 14 AND 15: [International Business Activity Act, sections 1 and 2] provide for the inclusion of foreign banks.

SECTION 16: [International Business Activity Act, section 9] provides for the registration of a corporation that is a foreign bank.

SECTIONS 17 AND 18: [International Business Activity Act, sections 17 and 18] are consequential to the other amendments to the International Business Activity Act included in this Bill.

SECTION 19: [International Business Activity Act, section 18.1] adds a section respecting the calculation of tax refunds for foreign banks.

SECTION 20: [International Business Activity Act, section 19] is consequential to the other amendments to the International Business Activity Act included in this Bill.

SECTION 21: [International Business Activity Act, section 19.001] adds a section respecting the calculation of tax refunds for foreign banks.

SECTION 22: [International Business Activity Act, section 19.03] adds a subsection relating to the calculation of income for foreign banks.

SECTION 23: [School Act, section 130]

(a) clarifies that a purpose is to be prescribed by regulation, and

(b) provides that the exemption from taxation under the Act does not apply to a parcel of land that is classified in a property class or used for a purpose prescribed by the Lieutenant Governor in Council.

SECTION 24: [Taxation (Rural Area) Act, section 12] provides a due date for taxes levied in a supplementary taxation notice mailed under section 21 (8.2) of the Act added by this Bill.

SECTION 25: [Taxation (Rural Area) Act, section 21] authorizes the Surveyor of Taxes to prepare a supplementary taxation roll correcting certain types of errors on a taxation roll and requires the Surveyor of Taxes to mail a supplementary taxation notice to every person named on the supplementary taxation roll.

SECTION 26: [Taxation (Rural Area) Act, section 24] provides that refunds under section 24 of the Act are paid from the consolidated revenue fund.

SECTION 27: [University Act, section 54]

SECTION 28: [University Act, section 71] authorizes regulations for the purpose of section 54 (4) of the Act.

SECTION 29: [Health Authorities Act and University Act transition] until the earlier of 2 specified dates, provides for the continued application of a former provision in respect of a property that was exempt under the former provision for the purposes of the 2010 taxation year.

SECTION 30: [Health Authorities Act and University Act amendments — retroactive effect] provides that sections 11, 12, 27 and 28 of this Bill are effective for the purposes of assessment and taxation for the 2011 taxation year.

SECTION 31: [Health Authorities Act and University Act transition — retroactive regulations for 2011 taxation year] provides that a regulation may be made under section 21 (2) (s) of the Health Authorities Act or section 71 (2) (b.1) of the University Act applicable for the purposes of the 2011 taxation year, provided the regulation is made on or before December 31, 2011.

SECTION 32: [Home Owner Grant Act transition] provides that the provisions of the Home Owner Grant Act authorizing the grant administrator to waive or cancel interest do not apply in respect of a notice of disentitlement provided before February 16, 2011.

SECTION 33: [School Act transition — retroactive regulations for 2011 taxation year] provides that a regulation may be made under section 130 (4) of the Act applicable for the purposes of the 2011 taxation year, provided the regulation is made on or before December 31, 2011.