Attracting Investment and Creating Jobs Act, 2012 Duguid, Hon. Brad Minister of Economic Development and Innovation — Bill 11 (40th Parliament, 1st Session)

Bill 11, 40-1

Ontario — Bills

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Bill 11, Attracting Investment and Creating Jobs Act, 2012

Duguid, Hon. Brad Minister of Economic Development and Innovation

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Status

Debates

Original

As Amended by Standing Committee

Royal Assent

[40] Bill 11 Royal Assent (PDF)

Bill 11 2012

An Act respecting the continuation

and establishment of development funds in order to promote regional economic

development in eastern and southwestern Ontario

Her

Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

Definitions

1. In

this Act,

"Minister"

means the Minister of Economic Development and Innovation or such other member

of the Executive Council to whom responsibility for the administration of the Ministry of Economic Development and Trade Act may be

assigned or transferred under the Executive Council Act ;

(" ministre ")

"Ministry" means the ministry of the Minister; (" ministère " )

"program" means the Eastern Ontario Development Fund or the Southwestern

Ontario Development Fund. ("programme")

Continuation

and establishment of development funds

2. The

Minister shall, pursuant to the Minister's powers under

section 6 of the Ministry of Economic Development and Trade Act ,

(

a) continue

French as Fonds de

développement de l'Est de l'Ontario , which was established by the Minister under that

Act; and

(

b) establish

Development Fund and in French as Fonds de développement du Sud-Ouest de l'Ontario.

Purpose

of programs

(1) The

purpose of the programs is to provide financial assistance and incentives to

promote regional economic development in eastern Ontario and southwestern Ontario and thereby enhance Ontario's overall economic competitiveness and opportunities

for the Ontario labour force.

Same

(2) For the purpose of subsection (1), the promotion of

regional economic development includes the following:

1. Attracting

and retaining investment.

2. Creating

and retaining jobs.

3. Promoting

innovation, collaboration and cluster development.

Announcements

(3) If a public announcement is to be made about the

provision of financial assistance or incentives within eastern Ontario or southwestern Ontario, as the case may be, the MPP who represents the affected

area within the region must be given the opportunity to participate in the

announcement.

Administration

of programs

Corporations

established

(1) The

following corporations are established for the purpose of administering the

programs:

1. A

Development Fund Corporation and in French as Société de gestion du Fonds de

développement de l'Est de l'Ontario.

2. A

Ontario Development Fund Corporation and in French as Société de gestion du

Fonds de développement du Sud-Ouest de l'Ontario.

Composition

(2) Each corporation is composed of the members of its

board of directors, and its board of directors is composed of the following

persons:

1. The

Minister, who is the chair of the board of directors.

2. At

least seven other persons to be appointed by the Lieutenant Governor in Council

for a specified term.

Residency

requirement

(3) The members of the board of directors, other than the

Minister, must be ordinarily resident in eastern Ontario or southwestern Ontario, as the case may be.

Powers

(4) Each corporation has the capacity, rights, powers and

privileges of a natural person for carrying out its objects, except as limited

under this or any other Act.

Financial

authority

(5) Each corporation is authorized to determine who

receives financial assistance and other incentives under the program, and in

what amounts, and may provide financial assistance by way of grant or loan.

Local

advisory committee

(6) The board of directors shall establish a local

advisory committee and appoint its members. The composition of the committee

must reflect sectoral and subregional interests within eastern Ontario or southwestern Ontario, as the case may be.

Annual

report

(7) Within 90 days after the end of every fiscal year,

each corporation shall give the Minister an annual report on its affairs during

the fiscal year, and the report must include the audited financial statements

of the corporation.

Same

(8) The Minister shall lay the report before the Assembly

at the earliest reasonable opportunity.

Accountability

mechanisms

(1) The

Minister shall ensure that guidelines for each program are available to the

public, setting out the performance standards to be satisfied by participants

in the program with respect to the creation of jobs and other economic

development targets.

Agreement

(2) Before receiving financial assistance or incentives

under a program, a person or entity must enter into an agreement with the

Minister that includes the details of the performance standards to be met and

other accountability measures that apply with respect to the funding.

Clawback

(3) The agreement must provide for the repayment to the

applicable Fund of the financial assistance or the amount of the incentive if

the performance standards are not satisfied.

Public

inspection

(4) Each agreement between the Minister and a person or

entity receiving financial assistance or incentives under a program must be

available for inspection by the public. However, commercially-sensitive

information in an agreement may be redacted from the version made available to

the public.

Initial

review of programs

(1) The

Minister shall conduct a review of the programs one year after the date on

which

section 2 comes into force.

Same

(2) The review must consider the following matters and

such other matters as the Minister considers appropriate:

1. The

geographic areas within which each program operates and whether to revise them.

2. The

types of financial assistance and incentives that have been provided under each

program, their effectiveness and options for other types of financial

assistance and incentives.

3. The

accountability measures in effect under each program, their effectiveness and

options for strengthening them.

Review

7. The

Minister shall conduct a review of the effectiveness of the programs in

achieving their purpose by the fifth anniversary of the day

section 2 comes

into force.

Minister

retains powers, duties, functions

8. Subject

to the duties imposed on the Minister by this Act, the Minister retains the

powers, duties and functions of the Minister under the Ministry

of Economic Development and Trade Act .

Money

9. The

money required for the programs shall be paid out of the money appropriated for

the Ministry by the Legislature.

Commencement

10. This

Act comes into force on a day to be named by proclamation of the Lieutenant

Governor.

Short

title

11. The

short title of this Act is the Attracting Investment and

Creating Jobs Act, 2012 .

EXPLANATORY NOTE

This

Explanatory Note was written as a reader's aid to Bill 11 and does not form

part of the law. Bill 11 has been enacted as

Chapter 10 of the Statutes of

Ontario, 2012.

The

Bill enacts the Attracting Investment and Creating Jobs

Act, 2012 .

Section

2 of the Act requires the Minister of Economic Development and Innovation to

continue the Eastern Ontario Development Fund and to establish and continue the

Southwestern Ontario Development Fund as regional development programs.

Section

3 of the Act sets out the purpose of the programs. Subsection 3 (3) provides

that, if a public announcement is to be made about the provision of financial

assistance or incentives under a program, the MPP who represents the affected

area must be given the opportunity to participate in the announcement.

Section

4 of the Act establishes two corporations to administer the programs, one for

each program. Each corporation is required to establish a local advisory

committee.

Section

5 of the Act sets out accountability mechanisms for the programs.

Section

6 of the Act provides for an initial review of the programs by the Minister one

year after

section 2 comes into force, and specifies the matters to be

considered during the review.

Section

7 of the Act provides for a further review of the effectiveness of the programs

by the fifth anniversary of the date on which

section 2 comes into force.

[40] Bill 11 As Amended by Standing Committee (PDF)

Bill 11 2012

An Act respecting the continuation

and establishment of development funds in order to promote regional economic

development in eastern and southwestern Ontario

Her

Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

Definitions

1. In

this Act,

"Minister"

means the Minister of Economic Development and Innovation or such other member

of the Executive Council to whom responsibility for the administration of the Ministry of Economic Development

and Trade Act may be assigned or transferred under the Executive Council Act ;

(" ministre ")

"Ministry" means the ministry of the Minister; (" ministère " )

"program" means the Eastern Ontario Development Fund or the Southwestern

Ontario Development Fund. ("programme")

Continuation

and establishment of development funds

2. The

Minister shall, pursuant to the Minister's powers under

section 6 of the Ministry of Economic Development

and Trade Act ,

(

a) continue

French as Fonds de

développement de l'Est de l'Ontario , which was established by the Minister under that

Act; and

(

b) establish

Development Fund and in French as Fonds de développement du Sud-Ouest de l'Ontario.

Purpose

of programs

(1) The

purpose of the programs is to provide financial assistance and incentives to promote

regional economic development in eastern Ontario and southwestern Ontario and thereby enhance Ontario's overall economic competitiveness and opportunities

for the Ontario labour force.

Same

(2) For the purpose of subsection (1), the promotion of

regional economic development includes the following:

1. Attracting

and retaining investment.

2. Creating

and retaining jobs.

3. Promoting

innovation, collaboration and cluster development.

Announcements

(3) If

a public announcement is to be made about the provision of financial assistance

or incentives within eastern Ontario or southwestern Ontario, as the case may

be, the MPP who represents the affected area within the region must be given

the opportunity to participate in the announcement.

Administration

of programs

Corporations

established

3.1

(1) The

following corporations are established for the purpose of administering the programs:

1. A

Development Fund Corporation and in French as Société de gestion du Fonds de

développement de l'Est de l'Ontario.

2. A

Ontario Development Fund Corporation and in French as Société de gestion du

Fonds de développement du Sud-Ouest de l'Ontario.

Composition

(2) Each

corporation is composed of the members of its board of directors, and its board

of directors is composed of the following persons:

1. The

Minister, who is the chair of the board of directors.

2. At least

seven other persons to be appointed by the Lieutenant Governor in Council for a

specified term.

Residency

requirement

(3) The

members of the board of directors, other than the Minister, must be ordinarily

resident in eastern Ontario or southwestern Ontario, as the case may be.

Powers

(4) Each

corporation has the capacity, rights, powers and privileges of a natural person

for carrying out its objects, except as limited under this or any other Act.

Financial

authority

(5) Each

corporation is authorized to determine who receives financial assistance and

other incentives under the program, and in what amounts, and may provide financial

assistance by way of grant or loan.

Local advisory

committee

(6) The

board of directors shall establish a local advisory committee an

Document details

Collection	Ontario — Bills
Citation	Bill 11, 40-1
Type	bill
Volume / chapter	p40 s1 bill 11 html
Language	en
Format	html
Source	PROVINCIAL
Identifier	f90bc80e000598360ea22d6d17d8dd7c7448a6e8

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