Ontario Passes Budget Measures Act
Province Continuing to Support Business and Build Ontario Up
Queens Park - Yesterday, the Ontario government passed the Budget Measures Act, 2015, enacting a number of new statutes and amending several others. These measures further the economic plan set out in the 2015 Budget and demonstrate the government’s commitment to creating a dynamic and innovative business environment.
Highlights of the act include:
• Removing the Debt Retirement Charge as of April 1, 2018 for all non-residential consumers nine months earlier than previously estimated to reduce businesses’ electricity bills, providing certainty to commercial, industrial and other users and helping them plan investment decisions more effectively.
• Enacting amendments and provisions to support the socially responsible sale of beer in grocery stores
• Designating the LCBO head office lands, Ontario Power Generation’s head office building, the Lakeview lands and the Province’s shares in Hydro One and Hydro One Brampton as qualifying assets under the Trillium Trust Act, 2014. The net revenue gains from the sale of these assets will be dedicated to the trust to fund public infrastructure projects across Ontario.
• Strengthening the oversight of raw leaf tobacco
• Integrating the operations of the Ontario Racing Commission with the Ontario Lottery and Gaming Corporation and the Alcohol and Gaming Commission of Ontario, to support a stable and sustainable horse racing industry
The Budget Measures Act, 2015 is part of the government’s plan to build Ontario up. The four-part plan includes investing in people's talents and skills, making the largest investment in public infrastructure in Ontario's history, creating a dynamic, innovative environment where business thrives and building a secure retirement savings plan.