Acts and Regulations

T-0.2 - An Act to Comply with the Request of The City of Saint John on Taxation of the LNG Terminal

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Repealed on 16 December 2016
CHAPTER T-0.2
An Act to Comply with the Request of
The City of Saint John on Taxation
of the LNG Terminal
Assented to June 30, 2005
Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:
Repealed: 2016, c.38, s.1
Definitions
1The following definitions apply in this Act.
“LNG terminal” means the marine terminal for the receiving and containment of liquefied natural gas that is described in the regulations.(terminal de GNL)
“municipal rate” means the rate of tax fixed under section 87 of the Municipalities Act for the purposes of the Real Property Tax Act.(taux municipal)
“municipal tax” means the tax imposed under paragraph 5(2)(a) of the Real Property Tax Act.(impôt municipal)
Municipal tax
2(1)Notwithstanding the Real Property Tax Act, the Assessment Act and the Municipalities Act, the amount of the municipal tax payable in respect of the LNG terminal is $500,000 per year.
2(2)Subsection (1) applies for 25 consecutive years commencing in the year prescribed by regulation.
Assessment
3(1)Notwithstanding the Assessment Act, the LNG terminal shall be assessed for any year referred to in subsection 2(2) at a value that will realize $500,000 as the amount of municipal tax for that year.
3(2)Notwithstanding subsection (1), the tax imposed on the LNG terminal under subsection 5(2.01) of the Real Property Tax Act shall be calculated for any year referred to in subsection 2(2) on the real and true value of the terminal for that year.
Adjustment
4If the municipal rate for a particular year is different than the municipal rate for the previous year, the Minister of Finance shall adjust the payments made under paragraph 8(b) of the Community Funding Act so that, in respect of the LNG terminal, the amount payable to The City of Saint John under that paragraph for the particular year is $500,000.
2012, c.56, s.33
Referrals and appeals under the Assessment Act
5Sections 25, 27, 28 and 37 of the Assessment Act do not apply to the amount of the assessment on the LNG terminal determined under subsection 3(1).
Application of other Acts
6Unless this Act provides otherwise, the Assessment Act, the Real Property Tax Act and the Municipalities Act apply to the assessment and taxation of the LNG terminal.
Regulations
7(1)The Lieutenant-Governor in Council may make regulations
(a) describing the LNG terminal for the purposes of this Act;
(b) prescribing the year for the purposes of subsection 2(2).
7(2)A regulation under subsection (1) may be retroactive in its operation.
CONSEQUENTIAL AMENDMENTS
Assessment Act
8Section 15 of the Assessment Act, chapter A-14 of the Revised Statutes, 1973, is amended by adding “and to subsection 3(1) of An Act to Comply with the Request of The City of Saint John on Taxation of the LNG Terminal” after “17.1”.
Real Property Tax Act
9(1)Section 23 of the Real Property Tax Act, chapter R-2 of the Revised Statutes, 1973, is amended
(a) by renumbering the section as subsection 23(1);
(b) by adding after subsection (1) the following:
23(2)Subsection (1) does not apply in respect of the LNG terminal referred to in An Act to Comply with the Request of The City of Saint John on Taxation of the LNG Terminal.
9(2)Section 25 of the Act is amended by striking out “section 8, subsection 20(2) or (4) or 20.1(2) or (4) or section 23” and substituting “section 8 or subsection 20(2) or (4), 20.1(2) or (4) or 23(1)”.
COMMENCEMENT
Commencement
10This Act or any provision of it comes into force on a day or days to be fixed by proclamation.
N.B. This Act was proclaimed and came into force February 16, 2006.
N.B. This Act is consolidated to December 16, 2016.