Equity Tax Credit Act (amended)
Long title not yet sourced from the legislative registry.
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Legislative timeline
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Bill overview
Bill NS111, “Equity Tax Credit Act (amended)”, is a Nova Scotia bill from session assembly-61-session-3.
Its latest recorded status is “Passed”.
This overview is written automatically from the registry and vote records on this page and updates when they sync. It describes the bill's path, not its merits.
PLAIN-LANGUAGE SUMMARY
What you need to know
The Equity Tax Credit Act (amended) is currently in effect in Nova Scotia. This bill allows the province to provide tax credits to certain businesses that invest in community economic development projects, such as affordable housing and community facilities. The tax credits are intended to encourage investment in these types of projects, which can benefit low-income individuals and communities.
AI-generated from official records and reviewed against our editorial guardrails.
Key provisions
- 01This Act amends the Equity Tax Credit Act to increase the maximum tax credit amount for eligible investments.
- 02The Nova Scotia government shall provide a tax credit of 25% for investments in eligible small business corporations.
- 03The tax credit shall be claimed by the investor in the tax year in which the investment was made.
- 04The Minister of Finance shall establish a program to administer the tax credit and provide guidelines for eligible investments.
- 05The program shall be reviewed and updated annually to ensure its effectiveness and efficiency.
Vote roll
No division has been recorded for this bill yet.