Thank you, Mr. Speaker. I move, seconded by the honourable Member for Yellowknife South, that Bill 42, An Act to Amend the Petroleum Products Tax Act, be read for the second time.

The bill amends the Petroleum Products Tax Act to impose a carbon tax on petroleum products and natural gas. It makes the amendments necessary for collection and administration of this new tax to be handled in the same manner as the current fuel tax. Purchasers are required to pay the tax, and vendors and collectors are required to remit the tax to the Government of the Northwest Territories. The bill allows the Minister to provide in regulation for rebates and grants and increases the maximum fines and penalties which may be imposed either as administrative penalties or on summary conviction. Finally, the bill adds provisions for the appeal of an assessment of tax, interest or administrative penalties under the act. Thank you, Mr. Speaker.