Mr. Speaker, I move, seconded by the honourable Member for Baffin South, that Bill 14, An Act to Amend the Risk Capital Investments Tax Credits Act and the Income Tax Act, be read for the second time. Mr. Speaker, this bill amends the Risk Capital Investment Tax Credits Act to retroactively deem the act and the regulations made under the act to have come into force on the date the act was given assent. This bill also amends the Act to retroactively add a regulation-making power respecting fees.
In addition, this bill amends the Income Tax Act to give retroactive effect to a provision of that act respecting the investment tax credits established under the Risk Capital Investment Tax Credits Act. Thank you, Mr. Speaker.