O. Reg. 276/12: PAYMENTS IN LIEU OF CORPORATE TAXES - MUNICIPAL ELECTRICITY UTILITIES

 

ontario regulation 276/12

made under the

electricity Act, 1998

Made: September 12, 2012
Filed: September 13, 2012
Published on e-Laws: September 13, 2012
Printed in The Ontario Gazette: September 29, 2012

Amending O. Reg. 162/01

(Payments in Lieu of Corporate Taxes — Municipal Electricity Utilities)

1. Ontario Regulation 162/01 is amended by adding the following section:

Renewable energy generation facilities

8.4 (1) Subsection (2) applies if a municipal corporation, a municipal services board, a city board or municipal services corporation (referred to in this section as an “entity”) generates electricity in accordance with subsection 144 (2) of the Act.

(2) The calculation of an entity’s required payment under section 93 of the Act for a taxation year ending after September 8, 2009 is determined on the basis,

(a) that the only businesses or other activities carried on by the entity are those businesses and activities that relate to a generation facility described in clause 144 (2) (a) or (b) of the Act; and

(b) that the only properties held by the entity are those properties that relate to the generation facility.

Commencement

2. This Regulation comes into force on the day it is filed.

Made by:

Dwight Douglas Duncan

Minister of Finance

Date made: September 12, 2012.