Manitoba Hansard — 39 4 b038e.php

39-4 b038e.php

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Home → Legislative Business → Bills → 39-4

Status of bills in this Session.

Fourth Session, Thirty-Ninth Legislature

This version is based on the printed bill that was distributed in the Legislature after First Reading.

It is not the official version. If accuracy is critical, you can obtain a copy of the printed bill from Statutory Publications or view the online bilingual version (PDF) .

Bill 38

THE LOAN ACT, 2010

Table of Contents

(Assented to )

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:

Definitions

The following

definitions apply in this Act.

"agency" means a corporation or agency mentioned in the

Schedule or to which money may be advanced under a program mentioned in the Schedule. (« organisme »)

"government's borrowing authority" means the unused portion of the authority provided to the government under

section 2, or under a similar provision of a previous Loan Act , to borrow money for purposes other than to refinance debt. (« pouvoir d'emprunt du gouvernement »)

Increase in government's borrowing authority

The authority of the government to borrow for purposes other than to refinance debt is increased by $3,300,000,000.

Borrowing authority of agency

3(1)

Subject to subsection (3), an agency may borrow or raise for its purposes amounts not exceeding, in total, the amounts set out for the agency in the Schedule. This is in addition to any amounts that an agency may borrow

(

a) to refinance debt; or

(

b) under a statutory authority to borrow money for temporary purposes or working capital.

Manner of raising money

3(2)

Amounts borrowed or raised under subsection (1) may be borrowed or raised

(

a) by means of a loan from the government; or

(

b) subject to subsection (3), by any other means authorized by the agency's governing legislation and approved by the Lieutenant Governor in Council.

Abatement of government's borrowing authority

3(3)

An amount borrowed or raised under clause (2)(

b) reduces, and must not exceed, the government's borrowing authority.

Agency guarantee abates borrowing authority

3(4)

The amount of a guarantee provided by an agency reduces, and must not exceed the lesser of,

(

a) the government's borrowing authority; and

(

b) the agency's unused borrowing authority under subsection (1).

L.G. in C. may authorize advances

The Lieutenant Governor in Council may authorize amounts to be advanced to agencies or for programs as set out in the Schedule.

Lapse of previous borrowing authority

Any unused authority under

section 3 or 4 of The Loan Act, 2009 to borrow or advance an amount set out in a

Schedule to that Act lapses except to the extent it is included in the

Schedule to this Act.

Additional authority for loans and guarantees

6(1)

Until changed by another Act of the Legislature, the total of the loans and guarantees that the government provides under

section 63 of The Financial Administration Act in a fiscal year must not exceed $200,000,000.

Authority to borrow

6(2)

An agency or other person that needs legislative authority to borrow an amount to be advanced to it by the government under

section 63 of The Financial Administration Act is deemed to have that authority.

Coming into force

This Act is deemed to have come into force on April 1, 2010.

SCHEDULE

CAPITAL AUTHORITY FOR NON-BUDGETARY PROGRAMS FOR 2010-2011

$(000s)

Existing Authority

New or Additional Authority

TOTAL

Crown Corporations Council

Communities Economic Development Fund

8,874.9

6,800.0

15,674.9

The Manitoba Hydro-Electric Board

358,446.3

815,000.0

1,173,446.3

The Manitoba Lotteries Corporation*

239,761.0

14,300.0

254,061.0

*Existing authority — $13,461,000 is for First Nations Capital Development

Additional authority — $1,100,000 is for First Nations Capital Development

Aboriginal and Northern Affairs

Northern Affairs Communities

3,650.0

8,900.0

12,550.0

Advanced Education and Literacy

Manitoba Student Aid Program

29,916.9

10,347.0

40,263.9

Post Secondary Institutions

81,924.2

174,050.0

255,974.2

Agriculture, Food and Rural Initiatives

Manitoba Agricultural Services Corporation

104,768.4

89,957.0

194,725.4

Manitoba Farm Mediation Board

3,000.0

3,000.0

Rural Entrepreneur Assistance Program*

6,595.1

817.0

7,412.1

Community Works Loan Program*

458.2

458.2

*Existing authority for these programs is for Rural Economic Development Initiatives

Conservation

Special Operating Agencies Financing Authority:

Pineland Forest Nursery

435.0

435.0

Culture, Heritage and Tourism

Travel Manitoba

1,500.0

1,500.0

Venture Manitoba Tours Ltd.

665.0

665.0

Entrepreneurship, Training and Trade

International Education

356.6

356.6

Manitoba Capital Fund

636.8

636.8

Manitoba Film Guarantee Program

1,002.0

200.0

1,202.0

Business Support*

160,123.4

160,123.4

*Existing authority — $39,838,300 is for the Manitoba Industrial Opportunities Program

Manitoba Opportunities Fund Ltd.

167,064.4

167,064.4

Manitoba Science and Technology Fund

701.2

701.2

Family Services and Consumer Affairs

Special Operating Agencies Financing Authority:

The Companies Office

3,300.0

3,300.0

The Property Registry

5,000.0

5,000.0

The Vital Statistics Agency

1,272.0

547.0

1,819.0

Finance

Leaf Rapids Town Properties Ltd.

1,500.0

1,500.0

Health

Diagnostic Services of Manitoba, Inc.

25,654.1

5,096.0

30,750.1

Health Capital Program

268,083.1

273,459.0

541,542.1

Housing and Community Development

Manitoba Housing and Renewal Corporation

165,171.3

143,796.0

308,967.3

Cooperative Loans and Loan Guarantee Board

3,500.0

3,500.0

Infrastructure and Transportation

Manitoba Water Services Board

43,200.0

29,904.0

73,104.0

Special Operating Agencies Financing Authority:

Vehicle and Equipment Management Agency

16,600.0

13,000.0

29,600.0

Innovation, Energy and Mines

Special Operating Agencies Financing Authority:

Industrial Technology Centre

1,160.0

1,160.0

1,702,724.9

1,587,768.0

3,290,492.9

Document details

Collection	Manitoba — Debates (Hansard)
Citation	39-4 b038e.php
Type	bill
Volume / chapter	39 4 b038e.php
Language	en
Format	html
Source	PROVINCIAL
Identifier	5a5b10af629e5c0b9721bbcfc64108e9d8d42471

Source file is stored in the law ingest library (html).