Bill C-20: An Act to amend the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act

Bill C-20 If you have any questions or comments regarding the accessibility of this publication, please contact us at [email protected]. First Reading LEGISinfo Bilingual view XML PDF Skip to Document Navigation Skip to Document Content ENGLISHRECOMMENDATIONRECOMMENDATIONSUMMARYSUMMARY1 Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act1 Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments ActEXPLANATORY NOTESEXPLANATORY NOTES Second Session, Forty-third Parliament, 69 Elizabeth II, 2020-2021 HOUSE OF COMMONS OF CANADA BILL C-20 An Act to amend the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act FIRST READING, February 3, 2021 DEPUTY PRIME MINISTER AND MINISTER OF FINANCE 90972 RECOMMENDATION His Excellency the Administrator of the Government of Canada recommends to the House of Commons the appropriation of public revenue under the circumstances, in the manner and for the purposes set out in a measure entitled “An Act to amend the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act”. SUMMARY This enactment amends the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act to authorize the Minister of Finance to make an additional fiscal equalization offset payment to Nova Scotia for the 2020-2021 fiscal year and to extend that Minister’s authority to make additional fiscal equalization offset payments to Nova Scotia until March 31, 2023. Available on the House of Commons website at the following address: www.ourcommons.ca 2nd Session, 43rd Parliament, 69 Elizabeth II, 2020-2021 HOUSE OF COMMONS OF CANADA BILL C-20 An Act to amend the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: 2005, c. 30, s. 85 Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act 1 Section 12 of the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act is amended by adding the following after subsection (2): Additional fiscal equalization offset payment for 2020-2021 (3) For the 2020-2021 fiscal year, the Minister shall make an additional fiscal equalization offset payment to the Province in the amount of $85,626,000. Extension of Canada–Nova Scotia Arrangement for 2021-2023 (4) For any fiscal year between April 1, 2021 and March 31, 2023, the Minister shall make additional fiscal equalization offset payments to the Province, determined in accordance with the formula set out in section 8, if the Province receives a fiscal equalization payment for that fiscal year. Published under authority of the Speaker of the House of Commons explanatory notes Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act Clause 1: New. Publication Explorer Publication Explorer ParlVU