Hyperlaw

Provision

Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

Short Title

s. 1 — Short title

This Act may be cited as the Budget Implementation Act, 2007.

Amendments Related to Income Tax

Income Tax Act

s. 2

[Amendment]

s. 3

[Amendment]

s. 4

[Amendment]

s. 5

[Amendment]

s. 6

[Amendment]

s. 7

[Amendment]

s. 8

[Amendments]

s. 9

[Amendments]

s. 10

[Amendment]

s. 11

[Amendment]

s. 12

[Amendments]

s. 13

[Amendment]

s. 14

[Amendment]

s. 15

[Amendment]

s. 16

[Amendment]

s. 17

[Amendments]

s. 18

[Amendments]

s. 19

[Amendments]

s. 20

[Amendments]

s. 21

[Amendments]

s. 22

[Amendment]

s. 23

[Amendment]

s. 24

[Amendment]

s. 25

[Amendment]

s. 26

[Amendments]

s. 27

[Amendment]

s. 28

[Amendment]

s. 29

[Amendment]

Income Tax Regulations

s. 30

[Amendment]

s. 31

[Amendment]

s. 32

[Amendments]

s. 33

[Amendment]

s. 34

[Amendment]

s. 35

[Amendments]

s. 36

[Amendments]

Canada Education Savings Regulations

s. 38

[Amendment]

Coordinating Amendments

s. 39

[Amendment]

s. 40

[Amendment]

s. 41

[Amendment]

s. 42

[Amendment]

Amendments to the Excise Tax Act (Other than with Respect to the Goods and Services Tax/Harmonized Sales Tax)

s. 43

[Amendment]

s. 44

[Amendment]

Amendments in Respect of the Goods and Services Tax/Harmonized Sales Tax

Excise Tax Act

s. 45

[Amendment]

s. 46

[Amendment]

s. 47

[Amendments]

s. 48

[Amendment]

s. 49

[Amendments]

s. 50

[Amendment]

s. 51

[Amendment]

s. 52

[Amendment]

Other Measures Relating to Taxation

Federal-Provincial Fiscal Arrangements Act

s. 55

[Amendment]

s. 56

[Amendment]

s. 57 — Coming into force

Sections 55 and 56 are deemed to have come into force on July 1, 2000.

For the fiscal year beginning on April 1, 2007, from and out of the Consolidated Revenue Fund, there may be paid, on the requisition of the Minister of Finance, an amount of $250,000,000 to the Province of Ontario, to assist the province in the transition to a single corporate tax administration.

s. 59 — Payment of $150,000,000

For the fiscal year beginning on April 1, 2008, from and out of the Consolidated Revenue Fund, there may be paid, on the requisition of the Minister of Finance, an amount of $150,000,000 to the Province of Ontario, to assist the province in the transition to a single corporate tax administration.

Tax-back Guarantee Act

s. 60 — Enactment of Act

The Tax-back Guarantee Act is enacted as follows:[See Tax-back Guarantee Act]

Federal-Provincial Fiscal Arrangements Act

Amendments to Act

s. 61

[Amendment]

s. 62

[Amendment]

s. 63

[Amendment]

s. 64

[Amendment]

s. 65

[Amendment]

s. 66

[Amendment]

s. 67

[Amendment]

s. 68

[Amendments]

s. 69

[Amendments]

s. 70

[Amendment]

s. 71

[Amendments]

s. 72

[Amendment]

s. 73

[Amendment]

s. 74

[Amendment]

Transitional Provisions

s. 75

[Transitional provision]

s. 76

[Transitional provision]

s. 77

[Transitional provision]

Consequential Amendments

Canada-Newfoundland Atlantic Accord Implementation Act

s. 78

[Repealed]

s. 79

[Amendment]

s. 80

[Amendment]

Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act

s. 81

[Amendment]

s. 82

[Amendment]

s. 83

[Repealed]

Coming into Force

s. 84 — Newfoundland and Labrador

s. 84(1)

Sections 79 and 82 come into force, or are deemed to have come into force, on April 1 of the first fiscal year in respect of which Newfoundland and Labrador makes the election under subsection 3.7(3) of the Federal-Provincial Fiscal Arrangements Act.

s. 84*(2) — Notice

The Minister of Finance shall publish in the Canada Gazette the date on which sections 79 and 82 come into force.[Note: Sections 79 and 82 in force April 1, 2010, see Canada Gazette Part I, Volume 146, page 26.]

s. 84(3) — Nova Scotia

Section 81 comes into force, or is deemed to have come into force, on April 1, 2008.

Amendments to the Financial Administration Act

Financial Administration Act

s. 85

[Amendment]

s. 86

[Amendment]

s. 87

[Amendment]

s. 88

[Amendment]

Coming into Force

*89 — Order in council

This Part comes into force on a day to be fixed by order of the Governor in Council.[Note: Part 7 in force October 26, 2007, see SI/2007-95.]

Amendments to the Canada Mortgage and Housing Corporation Act

s. 90

[Amendments]

Amendments Relating to Eligible Financial Contracts

Bankruptcy and Insolvency Act

s. 91

[Amendments]

s. 92

[Amendments]

s. 93

[Amendment]

s. 94

[Amendment]

s. 95

[Amendment]

s. 96

[Amendment]

s. 97

[Amendment]

s. 98

[Amendment]

s. 99

[Amendment]

s. 100

[Amendment]

s. 101

[Amendment]

s. 102

[Amendment]

Canada Deposit Insurance Corporation Act

s. 103

[Amendments]

Companies’ Creditors Arrangement Act

s. 104

[Amendments]

s. 105

[Amendment]

s. 106

[Amendments]

s. 107

[Amendment]

s. 108

[Amendment]

s. 109

[Amendment]

Payment Clearing and Settlement Act

s. 110

[Amendment]

s. 111

[Amendments]

s. 112

[Amendments]

Winding-up and Restructuring Act

s. 113

[Amendments]

s. 114

[Amendment]

s. 115

[Amendment]

s. 116

[Amendment]

Transitional Provisions

s. 117

[Transitional provision]

s. 118

[Transitional provision]

s. 119

[Transitional provision]

s. 120

[Transitional provision]

s. 121

[Transitional provision]

Coordinating Amendments

s. 122

[Amendments]

Coming into Force

*123 — Order in council

Subsections 91(2), 103(2), 104(2) and 113(2) come into force on a day or days to be fixed by order of the Governor in Council.[Note: Subsection 103(2) in force November 17, 2007, see SI/2007-105; subsections 91(2), 104(2) and 113(2) in force November 17, 2007, see SI/2007-106.]

Payments to Provinces and Territories

Payment to British Columbia

s. 124 — Maximum payment of $30,000,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Finance, a sum not exceeding thirty million dollars to the Province of British Columbia to promote fair and equitable economic development, in an environmentally sustainable and ecologically integrated manner, of First Nations in the Spirit Bear Rainforest area of British Columbia and the Queen Charlotte Islands of British Columbia.

Clean Air and Climate Change Trust Fund

s. 125 — Maximum payment of $1,519,000,000

s. 125(1)

The Minister of Finance may make direct payments, in an aggregate amount not exceeding one billion, five hundred and nineteen million dollars, to a trust established to provide provinces and territories with funding to support provincial and territorial projects that will result in reductions in greenhouse gas emissions and air pollutants. Territories may also use those funds to adapt to a changing climate.

s. 125(2) — Provincial or territorial share

The amount that may be provided to a province or territory under this section is to be determined in accordance with the terms of the trust indenture establishing the trust referred to in subsection (1).

s. 125(3) — Payments out of C.R.F.

Any amount payable under this section may be paid by the Minister of Finance out of the Consolidated Revenue Fund at the times and in the manner that the Minister of Finance considers appropriate.

Transitional Payments

s. 126 — Maximum payment of $614,100,000

s. 126(1)

The Minister of Finance may make direct payments, in an aggregate amount not exceeding six hundred and fourteen million, one hundred thousand dollars, to a trust established to provide the Province of Ontario with funding for post-secondary education and training and the Provinces of Manitoba and Saskatchewan with funding for training.

s. 126(2) — Provincial share

The amount that may be provided to a province under this section is to be determined in accordance with the terms of the trust indenture establishing the trust referred to in subsection (1) and allocated as follows:

s. 126(2)(a)

a sum not exceeding five hundred and seventy-four million dollars to the Province of Ontario;

s. 126(2)(b)

a sum not exceeding twenty-one million, seven hundred thousand dollars to the Province of Manitoba; and

s. 126(2)(c)

a sum not exceeding eighteen million, four hundred thousand dollars to the Province of Saskatchewan.

s. 126(3) — Payments out of C.R.F.

Any amount payable under this section may be paid by the Minister of Finance out of the Consolidated Revenue Fund at the times and in the manner that the Minister of Finance considers appropriate.

Human Papillomavirus Immunization

s. 127 — Maximum payment of $300,000,000

s. 127(1)

The Minister of Finance may make direct payments, in an aggregate amount not exceeding three hundred million dollars, to a trust established to provide the provinces and territories with funding in support of human papillomavirus immunization.

s. 127(2) — Provincial or territorial share

s. 127(3) — Payments out of C.R.F.

Any amount payable under this section may be paid by the Minister of Finance out of the Consolidated Revenue Fund at the times and in the manner that the Minister of Finance considers appropriate.

Patient Wait Times Guarantee

s. 128 — Maximum payment of $612,000,000

s. 128(1)

The Minister of Finance may make direct payments, in an aggregate amount not exceeding six hundred and twelve million dollars, to a trust established to provide provinces and territories with funding in support of a patient wait times guarantee.

s. 128(2) — Provincial or territorial share

s. 128(3) — Payments out of C.R.F.

Any amount payable under this section may be paid by the Minister of Finance out of the Consolidated Revenue Fund at the times and in the manner that the Minister of Finance considers appropriate.

Child Care Spaces

s. 129 — Maximum payment of $250,000,000

s. 129(1)

The Minister of Finance may, for the fiscal year beginning on April 1, 2007, make direct payments, in an aggregate amount not exceeding two hundred and fifty million dollars to the provinces and territories for the purpose of supporting the creation of child care spaces.

s. 129(2) — Provincial or territorial share

The amount that may be paid to a province or territory for the fiscal year referred to in subsection (1) is the amount determined by multiplying the amount set out in that subsection by the quotient obtained by dividing

s. 129(2)(a)

the population of the province or territory for the fiscal year

s. 129(2)(b)

the total of the population of all provinces and territories for the fiscal year.

s. 129(3) — Payments out of C.R.F.

Any amount payable under this section may be paid by the Minister of Finance out of the Consolidated Revenue Fund at the times and in the manner that the Minister of Finance considers appropriate.

Payment to Yukon

s. 130 — Payment of $3,500,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Finance, the sum of three million, five hundred thousand dollars to Yukon.

Payment to Northwest Territories

s. 131 — Payment of $54,400,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Finance, the sum of fifty-four million, four hundred thousand dollars to the Northwest Territories.

Payments to Certain Entities

Nature Conservancy of Canada

s. 132 — Maximum payment of $225,000,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of the Environment, a sum not exceeding two hundred and twenty-five million dollars to the Nature Conservancy of Canada for its use.

Canada Health Infoway Inc.

s. 133 — Maximum payment of $400,000,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Health, a sum not exceeding four hundred million dollars to Canada Health Infoway Inc. for its use.

CANARIE Inc.

s. 134 — Maximum payment of $96,000,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Industry, a sum not exceeding ninety-six million dollars to CANARIE Inc. for its use.

Genome Canada

s. 135 — Maximum payment of $100,000,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Industry, a sum not exceeding one hundred million dollars to Genome Canada for its use.

Aid to Afghanistan

s. 136 — Afghanistan Reconstruction Trust Fund — $90,000,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister for International Development, a sum not exceeding ninety million dollars to the World Bank for the Afghanistan Reconstruction Trust Fund in respect of development assistance for Afghanistan.

s. 137 — UN Mine Action Service — $20,000,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister for International Development, a sum not exceeding twenty million dollars to the United Nations for use in UN Mine Action Service activities in Afghanistan.

s. 138 — UN Office on Drugs and Crime — $13,000,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Foreign Affairs, a sum not exceeding thirteen million dollars to the United Nations Office on Drugs and Crime, in respect of counter-narcotics initiatives for Afghanistan.

s. 139 — Counter Narcotics Trust Fund — $2,000,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Foreign Affairs, a sum not exceeding two million dollars to the United Nations Development Programme for the Counter Narcotics Trust Fund, in respect of counter-narcotics initiatives for Afghanistan.

s. 140 — Law and Order Trust Fund for Afghanistan — $10,000,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Foreign Affairs, a sum not exceeding ten million dollars to the United Nations Development Programme for the Law and Order Trust Fund for Afghanistan, for use consistent with the purposes of that fund.

Rick Hansen Man in Motion Foundation

s. 141 — Maximum payment of $30,000,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Health, a sum not exceeding thirty million dollars to the Rick Hansen Man in Motion Foundation for its use.

The Perimeter Institute for Theoretical Physics

s. 142 — Maximum payment of $50,000,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Industry, a sum not exceeding fifty million dollars to The Perimeter Institute for Theoretical Physics for its use.

Canada Foundation for Sustainable Development Technology

s. 143 — Maximum payment of $200,000,000

There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Industry, a sum not exceeding $200 million to the Canada Foundation for Sustainable Development Technology for its use.

s. 143.1 — Clarification — maximum payment

Despite section 143, the sum that may be paid out under that section is not to exceed the difference between $200 million and the sum paid out of the Consolidated Revenue Fund, on the requisition of the Minister of the Environment and the Minister of Natural Resources to the Canada Foundation for Sustainable Development Technology for its use, under section 143 as it read immediately before the day on which this section comes into force.