Thank you, Mr. Speaker. Thank you, colleagues. Mr. Speaker, I move, seconded by the honourable Member for Tu Nedhe, that Bill 7, An Act to Amend the Education Act and the Property Assessment and Taxation Act be read for the second time.
Mr. Speaker, this bill amends the Education Act and Property Assessment and Taxation Act, with respect to taxation for educational purposes. It establishes an education mill rate for Iqaluit, deems the mill rate establishment order 1997 and the mill rate establishment order, 1998 to have been authorized and deems an amendment to municipal tax authority payment regulations to have to come into force, July 1, 1996. The act was amended to correct errors and provision references, clarify the property that is liable to assessment and taxation for territorial, municipal, local purposes, under the Property Assessment and Taxation Act, is liable to assessment and taxation for education purposes.
Provide that only education bodies that have been allocated the power set out in paragraph 119(c) to receive annually from the tax authority for the district, the sum of money collected for the property taxes for education purposes, are required to call a meeting of the rate payers of the education district.
Provide that a municipal, taxing authority shall pay the property taxes that are attributable to the levy of the education mill rate, to an education body. If they were levied, pursuant to the request of education body and if not, to the collector of taxes.
Change certain references to the District Education Authority, to education body, the Property Assessment and Taxation Act is amended to change certain references to district education authority to education body.
Provide that the Minister of Finance may establish an education mill rate for each property class in a municipal taxation area where no education body has been allocated the power set out in paragraph 119(c) of the Education Act, to receive from the taxing authority, for the district, sums of money collected from the property taxes, for education purposes.
It is long winded, Mr. Speaker, but that is the bill. Thank you.