Manitoba Hansard — 42 1 b004e.php

42-1 b004e.php

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Home → Legislative Business → Bills → 42-1

Status of bills in this Session.

1st Session, 42nd Legislature

This HTML version is provided for ease of use and is based on the bilingual version that was distributed in the Legislature after First Reading.

Bill 4

THE LOAN ACT, 2019

Bilingual version (PDF)

(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 $3,201,000,000.

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).

LG 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, 2018 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, 2019.

SCHEDULE

CAPITAL AUTHORITY FOR NON-BUDGETARY PROGRAMS FOR 2019-2020 $(000s)

Existing Authority

New or Additional Authority

TOTAL

Crown Services

The Manitoba Hydro-Electric Board

1,590,724

1,555,000

3,145,724

The Manitoba Liquor and Lotteries Corporation (MLLC)

138,579

37,013

175,592

MLLC — First Nations Capital Program

3,300

3,300

Agriculture

Manitoba Agricultural Services Corporation

22,878

317,982

340,860

Education and Training

Manitoba Student Aid Program

47,976

36,500

84,476

Post-Secondary Institutions

4,000

4,000

The Public Schools Finance Board

35,666

281,149

316,815

Families

The Manitoba Housing and Renewal Corporation

281,351

76,437

357,788

Finance

Leaf Rapids Town Properties Ltd.

3,875

3,875

Special Operating Agencies Financing Authority:

Vehicle and Equipment Management Agency

6,000

6,000

Materials Distribution Agency

1,500

1,500

The Idea Fund

25,000

25,000

Growth, Enterprise and Trade

Business Support

75,000

75,000

Communities Economic Development Fund

2,950

13,550

16,500

Manitoba Opportunities Fund Ltd.

1,349

1,349

Manitoba Science and Technology Fund

Health, Seniors and Active Living

Shared Health Inc.

12,068

12,068

Health Capital Program

176,460

109,328

285,788

Indigenous and Northern Relations

Northern Affairs Communities

10,328

10,328

Justice

Special Operating Agencies Financing Authority:

Vital Statistics Agency

Municipal Relations

The Manitoba Water Services Board

92,560

92,560

Sustainable Development

Cottage Lots Program

2,500,647

2,459,509

4,960,156

Document details

Collection	Manitoba — Debates (Hansard)
Citation	42-1 b004e.php
Type	bill
Volume / chapter	42 1 b004e.php
Language	en
Format	html
Source	PROVINCIAL
Identifier	735b2f3f5020bdbb63a2f6749ba71e501457cff3

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