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O. Reg. 347/03: GENERAL

filed August 25, 2003 under Assessment Act, R.S.O. 1990, c. A.31

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ontario regulation 347/03

made under the

Assessment act

Made: August 13, 2003
Filed: August 25, 2003
Printed in The Ontario Gazette: September 13, 2003

Amending O. Reg. 282/98

(General)

1. Subsection 20 (3) of Ontario Regulation 282/98 is revoked and the following substituted:

(3) The subclass for vacant land for the industrial property class consists of the following land in the industrial property class:

1. Vacant land.

2. Subject to subsection (4), land used for a mine tailings management area pursuant to,

i. a closure plan for a mine under the Mining Act, or

ii. a licence to decommission a mine under the Nuclear Safety and Control Act (Canada), in the case of a uranium mine.

(4) Despite subsection (3), land described in paragraph 2 of that subsection is included in the subclass for vacant land for the industrial property class,

(a) only for 2004 and subsequent years; and

(b) only if all mining activity at the mine has permanently ceased.

2. The Regulation is amended by adding the following section:

Mine Tailings Management Area

43.1 For 2004 and subsequent years, the current value of land used as a mine tailings management area that is included in the subclass for vacant land for the industrial property class under subsection 20 (3) shall be determined without regard to the value of structures, machinery or fixtures erected or placed on the land for the purposes of environmental protection or pollution control.

Made by:

Janet Lynne Ecker

Minister of Finance

Date made: August 13, 2003.