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Bill 126, Plan to Build Act (Budget Measures), 2022

Bethlenfalvy, Hon. Peter Minister of Finance

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Acts affected

Original

Bill 126 Original (PDF)

EXPLANATORY

NOTE

SCHEDULE 1

CITY OF TORONTO ACT, 2006

The

City of Toronto Act, 2006 is amended to provide

that the TTC may enter into an agreement with a municipality or local board

authorizing the municipality or local board to operate, maintain or both

operate and maintain part of a local passenger transportation system within the

City.

SCHEDULE 2

INSURANCE ACT

New

section 101.3 of the Insurance Act requires

insurers to provide the Chief Executive Officer or an agency designated by the

Chief Executive Officer with certain information about automobile insurance

fraud for the purpose of assessing and detecting automobile insurance fraud.

The Act is also amended to provide for related rules to be made by the Authority.

Technical

amendments are made to the French versions of sections 101.1 and 101.2 of the

Act.

SCHEDULE 3

ONTARIO CAPITAL GROWTH CORPORATION ACT, 2008

The

Ontario Capital Growth Corporation Act, 2008 is

Croissance Ontario in French.

SCHEDULE 4

ONTARIO LOAN ACT, 2022

The

Ontario Loan Act, 2022 is enacted. Subsection 1

(1) of the Act authorizes the Crown to borrow a maximum of $24.2 billion.

SCHEDULE 5

TAXATION ACT, 2007

Section

21.1 of the Taxation Act, 2007 currently provides for

the low-income individuals and families tax credit. The credit currently allows

an eligible individual to deduct up to $850 from their tax payable for a

taxation year. Amendments are made to the credit for taxation years ending

after December 31, 2021, which would, among other things, allow eligible

individuals to deduct up to $875 from their tax payable for the year.

Clause

95 (15) (

f) of the Act currently provides that the Ontario book publishing tax

credit cannot be claimed with respect to the publishing of a literary work if

the literary work is published in an edition of less than 500 copies of a bound

book. The clause, which currently does not apply to literary works published in

2020 or 2021, is amended to provide that it only applies to literary works

published before 2020.

Subsection

97.1 (4.1) of the Act currently defines special expenditures for the purposes

of the regional opportunities investment tax credit as eligible expenditures in

respect of property that is considered to have become available for use during

the period that commences on March 24, 2021 and ends on December 31, 2022. The

subsection is amended to provide that the period ends on December 31, 2023.

New

section 103.0.6 of the Act provides the Ontario seniors care at home tax credit.

The credit is refundable and is available to eligible individuals in respect of

a taxation year that ends after December 31, 2021. An eligible individual’s tax

credit for a taxation year cannot exceed $1,500 and is calculated based on the

amount of tax credit for medical expenses that the individual deducted under

the Act for the year. Consequential amendments are made to sections 84 and 176

of the Act.

SCHEDULE 6

WORKPLACE SAFETY AND INSURANCE ACT, 1997

Subsection

165 (1) of the Workplace Safety and Insurance Act, 1997 ,

which requires that the main offices of the Workplace Safety and Insurance

Board be in the City of Toronto, is repealed.

Bill 126 2022

Act to implement Budget measures and to enact and amend various statutes

CONTENTS

Contents

of this Act

Commencement

Short

title

Schedule 1

City

of Toronto Act, 2006

Schedule 2

Insurance

Act

Schedule 3

Ontario

Capital Growth Corporation Act, 2008

Schedule 4

Ontario

Loan Act, 2022

Schedule 5

Taxation

Act, 2007

Schedule 6

Workplace

Safety and Insurance Act, 1997

Her

Majesty, by and with the advice and consent of the Legislative Assembly of the

Province of Ontario, enacts as follows:

Contents

of this Act

1 This Act consists of

this section, sections 2 and 3 and the Schedules to this Act.

Commencement

(1) Except

as otherwise provided in this section, this Act comes into force on the day it

receives Royal Assent.

(2) The

Schedules to this Act come into force as provided in each Schedule.

(3) If

a

Schedule to this Act provides that any of its provisions are to come into

force on a day to be named by proclamation of the Lieutenant Governor, a

proclamation may apply to one or more of those provisions, and proclamations

may be issued at different times with respect to any of those provisions.

Short

title

3 The

short title of

this Act is the Plan to Build Act (Budget Measures), 2022 .

SCHEDULE 1

CITY OF TORONTO ACT, 2006

Section 395 of the City of Toronto Act, 2006 is

amended by adding the following subsections:

Agreements

with municipality or local board

(5) Despite

subsection (1), the TTC may enter into an agreement with a municipality or

local board authorizing the municipality or local board to operate, maintain or

both operate and maintain, within the City, part of the municipality or local

board’s local passenger transportation system on the conditions specified in

the agreement.

Same

(6) Where

an agreement is made pursuant to subsection (5) for the purpose of integrating

the services of the local passenger transportation system with those of the

system operated by the TTC, the agreement is not a sale or transfer or deemed

sale or transfer of the operation or part of the operation of the TTC under the

Labour Relations Act , 1995 , and

does not constitute contracting out for the purposes of a collective agreement

to which the TTC is a party.

Commencement

2 This

Schedule comes into force on a day to be named by

proclamation of the Lieutenant Governor.

SCHEDULE 2

INSURANCE ACT

The French version of

section 101.1 of the Insurance Act

is amended by striking out “désigné par le directeur général de l’Autorité” and

substituting “désigné par celui-ci”.

The French version of

section 101.2 of the Act is amended by striking out

“l’organisme” and substituting “le bureau”.

The Act is amended by adding the following section:

Information

on automobile insurance fraud

101.3

(1) Every

insurer shall provide the Chief Executive Officer or an agency designated by

the Chief Executive Officer with information prescribed by the Authority rules

about automobile insurance fraud at such times and in accordance with such

requirements as may be prescribed by the Authority rules.

Same,

authority to collect, use and disclose information

(2) The

Chief Executive Officer and any agency designated by the Chief Executive

Officer are authorized to directly or indirectly collect, use and disclose

personal information about identifiable individuals if the collection, use or

disclosure of the information is for the purpose of assessing and detecting

automobile insurance fraud under subsection (1).

Definition

(3) In

this section,

“personal

information” means personal information within the meaning of the Freedom of Information and Protection of Privacy Act .

Subsection 121.0.1 (1) of the Act is amended by adding the following paragraph:

8.2 Prescribing

the information to be provided under subsection 101.3 (1) and prescribing

requirements for the purposes of that subsection.

Commencement

5 This

Schedule comes into force on a day to be named by

proclamation of the Lieutenant Governor.

SCHEDULE 3

ONTARIO CAPITAL GROWTH CORPORATION ACT, 2008

The title of the Ontario Capital Growth Corporation Act,

2008 is repealed and the following substituted:

Venture

Ontario Act, 2008

2 The definition of “Corporation” in

section 1

of the Act is repealed and the following substituted:

“Corporation”

means the corporation continued under

section 2; (“Société”)

Subsection 2 (1) of the Act is repealed and the following substituted:

Corporation

continued

(1) The

Ontario Capital Growth Corporation is continued as a corporation without share

French.

Commencement

4 This

Schedule comes into force on the day the Plan to Build Act (Budget Measures), 2022 receives Royal

Assent.

SCHEDULE 4

ONTARIO LOAN ACT, 2022

Borrowing

authorized

(1) The

Lieutenant Governor in Council may borrow in any manner provided by the Financial Administration Act such sums, not exceeding a

total aggregate amount of $24,200,000,000, as are considered necessary to

discharge any indebtedness or obligation of Ontario or to make any payment

authorized or required by any Act to be made out of the Consolidated Revenue

Fund.

Other

Acts

(2) The

authority to borrow conferred by this Act is in addition to that conferred by

any other Act.

Expiry

(1) No

order in council authorizing borrowing authorized under this Act shall be made

after December 31, 2024.

Same

(2) The

Crown shall not borrow money after December 31, 2025 under the authority of an

order in council that authorizes borrowing under this Act unless, on or before

December 31, 2025,

(

a) the

Crown has entered into an agreement to borrow the money under the order in

council; or

(

b) the

Crown has entered into an agreement respecting a borrowing program and the

agreement enables the Crown to borrow up to a specified limit under the order

in council.

Commencement

3 The Act set out in this

Schedule comes into force on the

day the Plan to Build Act (Budget Measures), 2022

receives Royal Assent.

Short

title

4 The

short title of the Act set out in this

Schedule is

the Ontario Loan Act, 2022 .

SCHEDULE 5

TAXATION ACT, 2007

(1) Subsection 21.1 (3) of the Taxation Act,

2007 is amended by adding “and before January 1, 2022” after “after

December 31, 2018” in the portion before the formula.

(2) Section

21.1 of the Act is amended by adding the following subsection:

Amount,

2022 and subsequent taxation years

(3.1) An

individual who is an eligible individual for a taxation year ending after

December 31, 2021 may deduct in computing the individual’s tax payable under

this Division for the year an amount calculated using the formula,

– E) × F

which,

“D” is

the lesser of,

(a) $875,

and

(

b) the

lowest tax rate for the year multiplied by the individual’s employment income

for the year,

“E” is

equal to 5 per cent of the greater of,

(

a) the

amount, if any, by which the individual’s personal adjusted income for the year

exceeds $32,500, and

(

b) the

amount, if any, by which the individual’s adjusted income for the year exceeds

$65,000, and

“F” is

equal to the individual’s Ontario allocation factor for the year.

(3) Subsection

21.1 (4) of the Act is amended by striking out “this subsection and subsection

(3)” in the portion before the definition of “adjusted income” and substituting

“this section”.

(1) Subsection 84 (1) of the Act is amended by adding the following

paragraph:

14.6 The

Ontario seniors care at home tax credit under

section 103.0.6.

(2) Subsection

84 (2.1) of the Act is amended by adding the following paragraph:

1.6 The

tax credit referred to in paragraph 14.6 of subsection (1), with respect to a

taxation year ending after December 31, 2021.

(3) Subsection

84 (3) of the Act is amended by striking out “14.5, 15 and 16” in the portion

before clause (

a) and substituting “14.5, 14.6, 15 and 16”.

Clause 95 (15) (

f) of the Act is repealed and the following substituted:

(

f) the

corporation publishes the literary work in an edition of less than 500 copies,

if the literary work is published in a year before 2020;

Subsection 97.1 (4.1) of the Act is amended by striking out “December 31, 2022”

at the end and substituting “December 31, 2023”.

The Act is amended by adding the following section:

Ontario

seniors care at home tax credit

Entitlement

to tax credit

103.0.6

(1) An

individual, who is an eligible individual for a taxation year ending after

December 31, 2021, may claim an amount in respect of and not exceeding the

individual’s Ontario seniors care at home tax credit for the year.

Eligible

individual

(2) An

individual is an eligible individual for a taxation year for the purposes of

this

section if both of the following are satisfied:

1. The

individual is resident in Ontario on the last day of the year.

2. Any

of the following conditions are satisfied:

i. The

individual is at least 69 years of age on December 31 of the calendar year

preceding the taxation year.

ii. On

December 31 of the calendar year in which the taxation year ends, the

individual has a spouse or common-law partner who, on that date, was at least

70 years of age.

iii. The

individual had a spouse or common-law partner who died in the taxation year and

that spouse or common-law partner was at least 69 years of age on December 31

of the calendar year preceding the taxation year.

Amount

of tax credit

(3) The

amount of an individual’s tax credit under this

section for a taxation year is

equal to the amount calculated using the formula,

– B

which,

“A” is

the lesser of $1,500 and the amount calculated using the formula,

0.25

× (C/D)

which,

“C” is

the amount of tax credit for medical expenses under subsection 9 (20) that the

individual deducted in computing the amount of their tax payable under Division

B of

Part II for the year, and

“D” is

the lowest tax rate for the year as defined in subsection 3 (1), and

“B” is

the individual’s reduction amount for the year as determined under subsection

(4).

Reduction

amount

(4) An

individual’s reduction amount for a taxation year is equal to the amount

calculated using the formula,

0.05

× (E – $35,000)

which,

“E” is

the total of,

(

a) the

individual’s income for the taxation year, and

(

b) if

the individual has a spouse or common-law partner on December 31 of the

calendar year in which the taxation year ends, the income of that spouse or

common-law partner for all taxation years that end in that calendar year.

Interpretation

— split income

(5) For

the purposes of subsection (4), an individual’s income for a taxation year is

deemed to be the individual’s income for the year, if that income were computed

without reference to paragraph 20 (1) (ww) of the Federal Act.

Bankruptcy

(6) The

amount of an individual’s tax credit under this

section for a taxation year is

deemed to be nil if the individual is bankrupt at any time in the calendar year

containing the taxation year.

Relation

to other credits

(7) Despite

paragraph 248 (28) (

b) of the Federal Act as it applies for the purposes of

this Act, an individual may include the same expenses for the purpose of

determining their tax credit under this

section and for the purpose of

calculating their tax credit for medical expenses under subsection 9 (20) of

this Act.

Paragraph 1 of

section 176 of the Act is amended by adding the following

subparagraph:

xiv.vi The

Ontario seniors care at home tax credit under

section 103.0.6.

Commencement

7 This

Schedule comes into force on the day the Plan to Build Act (Budget Measures), 2022 receives Royal

Assent.

SCHEDULE 6

WORKPLACE SAFETY AND INSURANCE ACT, 1997

Subsection 165 (1) of the Workplace Safety and Insurance

Act, 1997 is repealed.

Commencement

2 This

Schedule comes into force on the day the Plan to Build Act (Budget Measures), 2022 receives Royal

Assent.

Date Bill stage Event Outcome Committee

April 28, 2022

First Reading

Vote

Carried

Debates and Progress

First Reading

April 28, 2022

Committee

Second Reading

Committee

Third Reading

Royal Assent

Acts affected - Bill 126

Most Ontario public acts are available electronically; to view copies of the Acts to be amended by this bill visit e-laws

City of Toronto Act, 2006

Insurance Act

Ontario Capital Growth Corporation Act, 2008

Taxation Act, 2007

Workplace Safety and Insurance Act, 1997

Legislative Assembly of Ontario

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