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

Short title: Political Loans Accountability Act Bill C-19 (40-3) Status: At second reading in the House of Commons Type: House Government Bill Sponsor: Steven Fletcher, Minister of State (Democratic Reform) (Charleswood—St. James—Assiniboia) Latest stage: First reading

Legislative

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On 26 April 2010, the Minister of State (Democratic Reform) introduced Bill C-19,

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.

The bill amends the Canada Elections act as follows: • all loans to political entities, including mandatory disclosure of terms, and the identity of all lenders and loan guarantors, must be uniform and transparent; • unions and corporations are prohibited from making loans to political parties, associations, and candidates; • limiting the amount of loans and loan guarantees that individuals can make within the framework of the permitted individual annual contribution; • 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 • tighter rules for the treatment of unpaid loans to ensure candidates cannot walk away from unpaid loans.

House of Commons — First reading: Completed (2010-04-28) House of Commons — Second reading: No activity

LEGISinfo: https://www.parl.ca/legisinfo/en/bill/40-3/c-19