An Act respecting the Perimeter Institute — Private Bill PR31 (38th Parliament, 2nd Session)

Bill PR31, 38-2

Ontario — Bills

2ND SESSION, 38TH LEGISLATURE, ONTARIO ELIZABETH II, 2006 Bill Pr31

An Act respecting the Perimeter Institute Mrs. Witmer Private Bill 1st Reading December 4, 2006 2n d Reading 3r d Reading Royal Assent Printed by the Legislative Assembly of Ontario Bill Pr31

An Act respecting the Perimeter Institute

Preamble The board of directors of the Perimeter Institute has ap- plied for special legislation to exempt certain land from taxation for municipal and school purposes, other than local improvement rates, while the land is used for a specified purpose. The appli cant represents that the Pe- rimeter Institute was incorporated under the Canada Cor- porations Act by letters patent dated September 28, 1999.

The applicant further represen ts that the Perimeter Insti- tute is a not-for-profit corporation, the purpose of which is to operate a research institute into foundational theoretical physics and that it has a freehold interest in the land at King Street North, Waterloo, which is used as its head office, and a leasehold intere st in the land at Caroline Street North, Waterloo, which is used as its research and training facilities. The applicant represents that the Pe- rimeter Institute is a registered charity within the meaning of the Income Tax Act (Canada). It is appropriate to grant the application.

Therefore, Her Majesty, by and with the advice and con- sent of the Legislative Assembly of the Province of On- tario, enacts as follows:

Definitions 1. In this Act, “Caroline Street property” m eans the land, as defined in the Assessment Act, municipally known as Caroline Street North in the City of Waterloo; “King Street property” means the land, as defined in the Assessment Act, municipally known as King Street North in the City of Waterloo. Tax exemption by-law 2.

(1) The council of the City of Waterloo may pass by-laws exempting the Carolin e Street property from taxation for municipal purposes, other than local im- provement rates, if, (

a) the Caroline Street prop erty is occupied and used solely for the research and educational purposes of the Perimeter Institute; and (

b) the Perimeter Institute is a registered charity within the meaning of the Income Tax Act (Canada). Same

(2) The council of the City of Waterloo may pass by- laws exempting the King Street property from taxation for municipal purposes, other than local improvement rates, if, (

a) the King Street property is occupied and used solely for the research and educational purposes of the Perimeter Institute; and (

b) the Perimeter Institute is a registered charity within the meaning of the Income Tax Act (Canada). Property exempt from school taxes 3.

(1) If the council of the City of Waterloo passes a by-law under subsection 2 (1), the Caroline Street prop- erty is also exempt from taxes for school purposes for so long as the by-law remains in effect. Same

(2) If the council of the City of Waterloo passes a by- law under subsection 2 (2), the King Street property is also exempt from taxes for school purposes for so long as the by-law remains in effect. Commencement 4. This Act comes into force on the day it receives Royal Assent.

Short title 5. The

short title of this Act is the Perimeter Institute Act, 2006. ______________ EXPLANATORY NOTE The purpose of the Bill is set out in the

Preamble.

Document details

Collection	Ontario — Bills
Citation	Bill PR31, 38-2
Type	bill
Volume / chapter	p38 s2 bill pr31 bill text 38 2 en pr031.pdf
Language	en
Format	json
Source	PROVINCIAL
Identifier	76a0c8f01b415b3401a0fb3d49bf5231d2da57cd

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