Mr. Speaker, I move, seconded by the honourable Member for Weledeh, that Bill 20, An Act to Amend the Income Tax Act, be read for the second time.

Mr. Speaker, this bill amends the Income Tax Act to reflect and address proposed changes to the Income Tax Act (Canada) that would lower the income tax rate on large corporation dividends received by Canadians. The bill would lower the Northwest Territories income tax rate on those dividends. The bill would not come into force unless the proposed amendments to the Income Tax Act (Canada) come into force. Thank you, Mr. Speaker.