An Act to amend the Canada Elections Act (accountability with respect to political loans)

Short title: Political Loans Accountability Act Bill C-21 (41-1) Status: At consideration in committee in the House of Commons Type: House Government Bill Sponsor: Tim Uppal, Minister of State (Democratic Reform) (Edmonton—Sherwood Park) Latest stage: Second reading Legislative

summary <div>A legislative

summary is currently being prepared for this bill by the Parliamentary Information and Research Service of the Library of Parliament. Meanwhile, the following executive

summary is available. <br/><br/>On November 2011, the Minister of State (Democratic Reform) introduced Bill C-21,

An Act to amend the Canada Elections Act (accountability with respect to political loans) (Political Loans Accountability Act), in the House of Commons and it was given first reading.<br/><br/>The bill amends the Canada Elections act as follows:<br/>• all loans to political entities, including mandatory disclosure of terms, and the identity of all lenders and loan guarantors, must be uniform and transparent; <br/>• unions and corporations are prohibited from making loans to political parties, associations, and candidates; <br/>• limiting the amount of loans and loan guarantees that individuals can make within the framework of the permitted individual annual contribution; <br/>• limiting to financial institutions and political entities the ability to make loans beyond the annual contribution limit for individuals, and only at commercial rates of interest; and <br/>• tighter rules for the treatment of unpaid loans to ensure candidates cannot walk away from unpaid loans.</div> House of Commons — First reading: Completed (2011-11-02) House of Commons — Second reading: Completed (2012-10-02) House of Commons — Consideration in committee: Not completed LEGISinfo: https://www.parl.ca/legisinfo/en/bill/41-1/c-21