Bill 134 2015
An Act to amend the Assessment Act to exempt land that is subject to certain conservation easements or covenants from taxation
The purpose of this Act is to encourage private landowners to grant easements or covenants to conservation bodies to help achieve Ontario's Biodiversity Strategy of preserving 17 per cent of Ontario's territory.
Therefore, Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:
1. Subsection 2 (2) of the Assessment Act is amended by adding the following clause:
(b.1) prescribing the requirements to be exempt from taxation under paragraph 25.1 of subsection 3 (1);
2. Subsection 3 (1) of the Act is amended by adding the following paragraph:
Land subject to conservation easements or covenants
25.1 Land that meets the prescribed requirements and that is subject to an easement or covenant granted under or entered into under subsection 3 (2) of the Conservation Land Act.
3. This Act comes into force on a day to be named by proclamation of the Lieutenant Governor.
4. The short title of this Act is the Conservation Land Fairness Act, 2015.
The Assessment Act is amended to exempt land that is subject to an easement or covenant under the Conservation Land Act from taxation if the land meets the requirements set out in the regulations.
The Minister of Finance is given a regulation-making power to prescribe the requirements for these lands to qualify for this exemption.