This is page numbers 5877 - 5944 of the Hansard for the 18th Assembly, 3rd Session. The original version can be accessed on the Legislative Assembly's website or by contacting the Legislative Assembly Library. The word of the day was report.

Topics

Some Hon. Members

Agreed.

The Chair

The Chair R.J. Simpson

Thank you, committee. To the bill as a whole. Does committee agree that Bill 41 is now ready for third reading?

Some Hon. Members

Agreed.

The Chair

The Chair R.J. Simpson

Thank you, committee. Bill 41 is now ready for third reading. Does committee agree that this concludes our consideration of Bill 41?

Some Hon. Members

Agreed.

The Chair

The Chair R.J. Simpson

Thank you, committee. Thank you to the Minister and to the witnesses. Sergeant-at-Arms, you may escort the witnesses from the chamber.

[Microphone not on] consideration of these final three items. Thank you.

---SHORT RECESS

Michael Nadli

Michael Nadli Deh Cho

Mr. Chair, I wish to declare that I have a financial interest in Bill 54, Standard Interest Rates Statutes Amendment Act, and I will excuse myself from the Chamber during its consideration of Committee of the Whole today. Mahsi, Mr. Chair.

The Chair

The Chair R.J. Simpson

Thank you, Mr. Nadli. Committee, I will ask the Minister responsible for Bill 54 to introduce it, and that will be Minister of Finance. Minister McLeod.

Robert C. McLeod

Robert C. McLeod Inuvik Twin Lakes

Thank you, Mr. Chair. I am here to present Bill 54, the Standard Interest Rate Statutes Amendment Act.

Bill 54 would make legislative amendments to adopt a standard interest rate that would be applied to all Government of the Northwest Territories overdue receivables. This proposal would lower the interest rate charged on receivables while linking the interest rate charged to the Canadian economy and monetary policy.

Currently, the interest rate applied under the Financial Administration Act and all taxation legislation varies creating an administratively complex situation leading to confusion for Northwest Territories residents and companies doing business with the GNWT. This legislation will ensure a standard interest rate is applied. Thank you, Mr. Chair.

The Chair

The Chair R.J. Simpson

Thank you, Minister. I will now turn to the chair of the Standing Committee on Government Operations, the committee that considered the bill for any opening comments that he may have. Mr. Testart.

Kieron Testart

Kieron Testart Kam Lake

Thank you, Mr. Chair. The Standing Committee on Government Operations concluded its review of Bill 54, Standard Interest Rate Statutes Amendment Act, on August 7, with a public clause-by-clause review held at the Legislative Assembly building.

The committee received submissions from the public. The committee supports the government changes to adopt a standard interest rate that will be applied to all GNWT overdue receivables, and will lower the interest rates currently charged by the GNWT on overdue accounts. Individual Membership may have additional comments or questions as we proceed with consideration of this bill. Thank you, Mr. Chair.

The Chair

The Chair R.J. Simpson

Thank you, Mr. Testart. Minister, would you like to bring witnesses into the Chamber?

Robert C. McLeod

Robert C. McLeod Inuvik Twin Lakes

Yes, Mr. Chair.

The Chair

The Chair R.J. Simpson

Thank you, Minister. Sergeant-at-Arms, please escort the witnesses into the Chamber. Minister, would you please introduce your witnesses for the record.

Robert C. McLeod

Robert C. McLeod Inuvik Twin Lakes

Thank you, Mr. Chair. To my right, I have Mr. David Stewart, deputy minister of Finance. To my left, I have Cherie Jarock, who is legislative counsel. Thank you, Mr. Chair.

The Chair

The Chair R.J. Simpson

Thank you. Welcome to the witnesses. I will open the floor to general comments on the bill. Any general comments on this bill? Mr. Testart.

Kieron Testart

Kieron Testart Kam Lake

Thank you, Mr. Chair. Over the course of our review of this legislation and hearing from other Members, honourable Members, some of who were Members of the committee and others who participated in some of our discussions around Bill 54, it became apparent that there was a lot of land tenure uncertainty in the Northwest Territories. Although this bill doesn't directly affect that, the consequences of overdue tax arrears on unpaid land taxes is a live issue in many of our communities, in particular for Indigenous peoples and our smaller communities.

Although this bill sets the standard interest rate, it does little to affect those overdue accounts, many of which are directly impacting the livelihood and the peace of mind of many residents. Some of these decisions that were made by the federal government in transferring certain lands to the GNWT have resulted in these arrears. We are considering other pieces of legislation that address land, but in this case, there are still many overdue accounts, and I felt it prudent to raise this concern because, again, it is a concern of many of our residents, particularly those in smaller communities. I think that it is important that the GNWT carefully consider its response to these overdue accounts and ensure that it can provide some relief to historically large sums of arrears and debt owing to people who oftentimes did not make the decision to inherit that land, to possess that tenure, and have been charged as a result.

It is more of a comment. I know that this is something that the Minister is aware of and the department is aware of, but I think that it is important to put on the public record. Thank you, Mr. Chair.

The Chair

The Chair R.J. Simpson

Thank you. Further general opening comments to the bill? Seeing none, does committee agree that we move to our clause-by-clause review?

Some Hon. Members

Agreed.

The Chair

The Chair R.J. Simpson

Thank you, committee. We will defer the bill number and title until after consideration of the clauses. Committee, please turn to page 1 of the bill. I will call each clause individually. Clause 1. Does committee agree?

---Clauses 1 through 6 inclusive approved

The Chair

The Chair R.J. Simpson

Thank you, committee. I will now call the bill number and title: Bill 54, Standard Interest Rates Statutes Amendment Act. Does committee agree?

Some Hon. Members

Agreed.

The Chair

The Chair R.J. Simpson

Thank you. To the bill as a whole. Does committee agree that Bill 54, Standard Interest Rates Statutes Amendment Act, is now ready for third reading?

Some Hon. Members

Agreed.

The Chair

The Chair R.J. Simpson

Thank you, committee. Bill 54 is now ready for third reading. Does committee that this concludes our consideration of Bill 54?