Thank you. The Member for Keewatin Central is seeking consent to deal with Bill 3. Do we have any nays? Mr. Todd, you have unanimous consent.
Debates of June 4th, 1998
Topics
Bill 3: Risk Capital Investment Tax Credits Act
Item 15: Second Reading Of Bills
Page 29
The Speaker Samuel Gargan
Bill 3: Risk Capital Investment Tax Credits Act
Item 15: Second Reading Of Bills
Page 29
John Todd Keewatin Central
Mr. Speaker, I move, seconded by the honourable Member for Baffin South, that Bill 3, Risk Capital Investment Tax Credits Act, be read for the second time. Mr. Speaker, this bill is intended to promote economic growth in the territories and to create and sustain employment in the territories by allowing taxpayers to qualify for tax credits by investing, either directly or indirectly, in corporations that carry on business in the territories and meet certain other specified criteria that qualify the corporation as an eligible business. The bill allows a taxpayer to qualify for tax credits by purchasing shares in any one of three venture capital corporations, labour-sponsored venture capital corporations, employee venture capital corporations and community-endorsed venture capital corporations.
The bill requires the venture capital corporations to, in turn, invest the funds received from investors in the shares of subordinated debt of eligible businesses. A labour-sponsored venture capital corporation must invest 70 percent of its funds in eligible businesses. An employee venture capital corporation must invest 70 percent of its funds in the eligible business that employs investors. A community-endorsed venture capital corporation must invest 70 percent of its funds in eligible businesses that have been endorsed by the communities in which the employees of the eligible businesses live.
The bill also allows taxpayers to qualify for tax credits by investing directly in the shares or subordinated debt of certain eligible businesses referred to as territorial business corporations.
The bill limits the use that an eligible business may make of funds received from a venture capital corporation or from investors in the case of a territorial business corporation, so that the funds may only be used for start-up operations or to expand or acquire an existing business. Thank you, Mr. Speaker.
Bill 3: Risk Capital Investment Tax Credits Act
Item 15: Second Reading Of Bills
Page 29
Some Hon. Members
Here, here.
Bill 3: Risk Capital Investment Tax Credits Act
Item 15: Second Reading Of Bills
Page 29
The Speaker Samuel Gargan
Thank you. The motion is in order. To the principle of the bill. Question has been called. All those in favour? All those opposed? The motion is carried. Bill 3 has had second reading and accordingly, the bill stands referred to a committee. Second reading of bills, Mr. Todd.
Bill 3: Risk Capital Investment Tax Credits Act
Item 15: Second Reading Of Bills
Page 29
John Todd Keewatin Central
Thank you, Mr. Speaker. I seek consent to proceed with second reading of Bill 4, An Act to Amend the Income Tax Act. Thank you.
Bill 3: Risk Capital Investment Tax Credits Act
Item 15: Second Reading Of Bills
Page 29
The Speaker Samuel Gargan
The Member for Keewatin Central is seeking consent to deal with Bill 4. Do we have any nays? Mr. Todd, you have consent.
Bill 4: An Act To Amend The Income Tax Act
Item 15: Second Reading Of Bills
Page 29
John Todd Keewatin Central
Mr. Speaker I move, second by the honourable Member for Baffin South that Bill 4, An Act to Amend the Income Tax Act, be read for the second time.
This bill permits taxpayers to deduct from tax otherwise payable an amount equal to the tax credits issued under the Risk Capital Investment Tax Credit Act, up to an annual maximum amount of $30,000 less any tax credits that may be deducted under the federal act. The bill also permits unutilized tax credits issued under the Risk Capital Investment Credits Act to be carried back three years and forward seven years and deducted from tax otherwise payable in any of those years. Thank you, Mr. Speaker.
Bill 4: An Act To Amend The Income Tax Act
Item 15: Second Reading Of Bills
Page 29
The Speaker Samuel Gargan
Thank you. The motion is in order. To the principle of the bill. Question has been called. All those in favour? All those opposed? Motion is carried. Bill 4 has had second reading and accordingly, the bill stands referred to a committee. Second reading of bills. Mr. Kakfwi.
Bill 4: An Act To Amend The Income Tax Act
Item 15: Second Reading Of Bills
Page 29
Stephen Kakfwi Sahtu
Mr. Speaker, I seek consent to proceed with second reading of Bill 5, Regulatory Reform Measures Act.
Bill 4: An Act To Amend The Income Tax Act
Item 15: Second Reading Of Bills
Page 29
The Speaker Samuel Gargan
The Member for Sahtu is seeking consent to deal with Bill 5. Do we have any nays? Mr. Kakfwi, you have unanimous consent.
Bill 5: Regulatory Reform Measures Act
Item 15: Second Reading Of Bills
Page 30
Stephen Kakfwi Sahtu
Mr. Speaker, I move, seconded by the honourable Member for Nahendeh that Bill 5, Regulatory Reform Measures Act, be read for the second time. Mr. Speaker, this bill amends 16 acts and repeals three others as part of the regulatory reform initiative.
1. Boilers and Pressure Vessels Act. The act is amended to:
- allow the chief inspector to vary the terms of a certificate of inspection or a certificate of approval where he or she is satisfied that the generating capacity of the boiler, pressure vessel or plant has been reduced;
- eliminate mandatory fees for inspections;
- enable a person to appeal an inspection or an action taken by the chief inspector to the Minister instead of to the Commissioner;
- enable a person to appeal the suspension or cancellation of his or her certificate of qualification to the Supreme Court instead of to the Commissioner;
2. Civil Emergency Measures Act. The Act is amended to:
- provide for the declaration of a local state of emergency in an unincorporated community;
- enable the Minister to issue orders respecting hazardous conditions;
- clarify emergency powers to order the demolition or removal of vegetation, structures, equipment or vehicles;
- protect the employment benefits of workers who are conscripted or on duty during a state of emergency or a state of local emergency.
3. Commissioner's Lands Act. The act is amended to remove the requirement for the Commissioner to approve the acquisition of Commissioner's land or an interest in Commissioner's land by employees of the government of the Northwest Territories.
4. Consumer Protection Act. The act is amended to:
- require direct sales contracts to be in writing and signed by the parties;
- provide that a buyer may cancel a direct sales contract without any reason within 10 days after receiving a copy of the direct sales contract and to revise the extended cancellation rights of a buyer;
- provide that a credit contract arranged by a direct seller or vendor is tied to the direct sales contract and is cancelled if the direct sales contract is cancelled;
- establish regulation-making authorities respecting the statement of a buyer's right to cancel and other information that must be contained in a direct sales contract.
5. Electrical Protection Act. The act is amended to:
- provide for the regulation of all elevating devices that run on electrical energy;
- provide that plans and specifications that have been stamped or sealed by an engineer do not have to be submitted to and improved by an inspector unless the chief inspector directs that they be submitted and approved.
- remove the requirement for the chief inspector to make an annual report to the Commissioner;
- clarify the regulation-making authority respecting elevating devices and establish regulation-making authority respecting accidents involving electrical equipment.
6. Environmental Protection Act. The act is amended to:
- provide a mechanism that permits persons to voluntarily provide detailed information, obtained through environmental audits or environmental site assessments, to the chief environmental protection officer about their non-compliance with the act, the regulations, guidelines or environmental standards;
- authorize the chief environmental protection officer to enter into agreements with persons to address any circumstances arising out of the non-compliance or to issue orders under the act;
- provide that persons who voluntarily provide detailed information will not be prosecuted for their non-compliance provided that they comply with the terms of any agreement entered into with and any order issued by the chief environmental protection officer;
- make it an offence to provide false information or documents or make false statements to the chief environmental protection officer or an inspector;
- establish regulatory-making authorities respecting environmental audits, environmental site assessments and agreements.
7. Financial Administration Act. The act is amended to:
- clarify that the Minister responsible for a department or public agency may establish the fees that may be charged for services provided by the department or public agency.
8. Fire Prevention Act. The act is amended to: - provide that the Minister may enter into an agreement with a municipal corporation to authorize it to exercise such powers or perform such duties of the fire marshal as may be specified in the agreement and to permit a municipal corporation to charge fees for services provided to the public in the exercise of those powers or the performance of those duties;
- establish procedures for the submission of work descriptions, plans and specifications to the fire marshal;
- revise the provisions respecting appeals to the fire marshal;
- establish specific regulation-making powers respecting flammable liquids, gases and fireworks.
9. Gas Protection Act. The act is amended to:
- remove outdated wording with respect to the offence of interfering with persons who are exercising powers or performing duties under the act or the regulations.
10. Institute of Chartered Accountants Act. The act is amended to:
- enable the Institute to enter into association or affiliation and to enter into agreements with institutes or orders of accountants incorporated under laws of Canada, a province, the Yukon Territory or Bermuda;
- remove the reference to the head office of the institute being situated in Yellowknife;
- remove the requirement for the Commissioner to approve the institute's by-laws.
11. Legal Profession Act. The act is amended to:
- enable the Law Society of the Northwest Territories to make rules respecting the books, ledgers, journals, records and accounts that must be kept by the members;
- remove the authority of the Commissioner to order an audit of a member's books, ledgers, journals, records and accounts.
12. Liquor Act. This act is amended to:
- clarify the power of the Liquor Licencing Board to set out terms and conditions in licences;
- exempt the board from the requirement to hold a public hearing in connection with a proceeding to cancel a licence if the cancellation is requested by the licence holder;
- clarify that a community which has a system of liquor restrictions may, without first becoming an unregulated area, vote on removing some of those restrictions or on substituting another system of restrictions;
- establish a 15-day minimum notice period for a request for a special prohibition order and to clarify who may request such an order and the scope of its application;
- authorize a licence holder or liquor inspector to request proof of the age of a patron of some licenced premises;
- limit the exemption respecting the supply of beer or wine to a person under the age of 19 years;
- enable regulations to be made establishing a class or subclass of licence which authorizes the licence holder to allow persons under the age of 19 years to enter and remain in the licenced premises.
13. Motion Pictures Act. The act is amended to:
- change the name of the Act to the Film Classification Act;
- repeal the provisions respecting licences, motion picture machines and cabinets, the structural designs of theatres, operators, censorship and officers;
- provide that the audience classifications of a province or the Yukon territory may be adopted by regulation;
- provide that films must have an audience classification and theatres must ensure that persons who are of a class that is prohibited from attending a film of a particular audience classification are not admitted to a film;
- increase the penalty for contravening the Act or the regulations.
14. Motor Vehicles Act. The act is amended to:
- provide for the issue of general identification cards.
15. Public Utilities Act. The act is amended to:
- provide that two or more interested persons may negotiate a settlement of an issue that is within the jurisdiction of the board, subject to the approval of the Board;
- remove the requirement of the board to approve franchises or amendments to franchises giving a public utility the right to operate within a municipality unless the Board is asked to do so by the public utility or a municipality; - remove the requirement for the board to review applications by public utilities for franchises or amendments to franchises giving a public utility the right to operate outside a municipality.
16. Social Assistance Act. The act is amended to:
- authorize the Minister to exercise powers that were previously exercised by the Commissioner;
- add a definition of local authority;
- authorize the Minister to enter into a written agreement delegating authority for the provision of assistance and welfare services to a local authority;
- require the Minister to consult with representatives of communities that may be affected by the delegation, where authorities are delegated to a regional body.
17. Elevating Devices Safety Act. The act is repealed.
18. Locksmiths, Security Guards and Other Security Occupations Act.
The act and An Act to Amend the Locksmiths, Security Guards and Other Security Occupations Act are repealed.
--Applause
Bill 5: Regulatory Reform Measures Act
Item 15: Second Reading Of Bills
Page 32
The Speaker Samuel Gargan
Thank you. The motion is in order. To the principle of the Bill. Question has been called. All those in favour? All those opposed? The motion is carried. Bill 5 has had second reading and accordingly, the Bill stands referred to a committee. Second reading of Bills. Mr. Erasmus.
Bill 5: Regulatory Reform Measures Act
Item 15: Second Reading Of Bills
Page 32
Roy Erasmus Yellowknife North
Mr. Speaker, I seek consent to proceed with the second reading of Bill 6, An Act to Amend the Workers' Compensation Act.
Bill 5: Regulatory Reform Measures Act
Item 15: Second Reading Of Bills
Page 32
The Speaker Samuel Gargan
The Member for Yellowknife North is seeking consent to deal with Bill 6. Do we have any nays? Mr. Erasmus, you have consent.
Bill 6: An Act To Amend The Workers' Compensation Act
Item 15: Second Reading Of Bills
Page 32
Roy Erasmus Yellowknife North
Thank you, Mr. Speaker. Thank you, colleagues. Mr. Speaker, I move, seconded by the honourable Member for Yellowknife South, that Bill 6, An Act to Amend the Workers' Compensation Act, be read for the second time. Mr. Speaker, this bill amends the Workers' Compensation Act to protect the workers of an employer and the employer from lawsuits arising out of accidents involving other workers and employers. Thank you, Mr. Speaker.
Bill 6: An Act To Amend The Workers' Compensation Act
Item 15: Second Reading Of Bills
Page 32
The Speaker Samuel Gargan
Thank you. The motion is in order. To the principle of the bill. Question has been called. All those in favour? All those opposed? Motion is carried. Bill 6 has had second reading and accordingly, the bill stands referred to a committee. Second reading of bills. Item 16, orders of the day. Mr. Clerk.
Item 16: Orders Of The Day
Item 16: Orders Of The Day
Page 32
Clerk Of The House Mr. David Hamilton
Mr. Speaker, orders of the day for Wednesday, September 16, 1998:
1. Prayer
2. Ministers' Statements
3. Members' Statements
4. Returns to Oral Questions
5. Recognition of Visitors in the Gallery
6. Oral Questions
7. Written Questions
8. Returns to Written Questions
9. Replies to Opening Address
10. Petitions
11. Reports of Standing and Special Committees
12. Reports of Committees on the Review of Bills
13. Tabling of Documents
14. Notices of Motion
15. Notices of Motions for First Reading of Bills
16. Motions
17. First Reading of Bills
18. Second Reading of Bills
19. Consideration in Committee of the Whole of Bills and Other Matters
20. Report of Committee of the Whole
21. Third Reading of Bills
22. Orders of the Day
Item 16: Orders Of The Day
Item 16: Orders Of The Day
Page 32
The Speaker Samuel Gargan
Thank you. We have now come to the end of this spring sitting of the Legislative Assembly. As we break, we head to our home communities where summer has come to some regions and is still waiting to visit others. Of course, in some areas, summer takes only a fleeting interest in visiting some of the very deserving residents of the Northwest Territories. At least, you can take comfort in 24-hours of sunlight and enjoy munching on muskox, moose, goose or delicious glacier ice.
This time away from the Assembly will allow us to reconnect with our families, friends and the land. I hope you have a happy and safe summer on the land and on the water. I look forward to seeing you rested and refreshed when we next meet in the Assembly in mid-September for our fall sitting. Before we go, I would like to thank the Clerk's Office, kitchen staff, Hansard staff, Pages and the staff of the Legislative Assembly for all their hard work over the last three weeks. Have a safe and enjoyable summer.
This House stands adjourned until 1:30 p.m. Wednesday, September 16, 1998.
--ADJOURNMENT