Bill C-59 (Historical)

Economic Action Plan 2015 Act, No. 1

An Act to implement certain provisions of the budget tabled in Parliament on April 21, 2015 and other measures

Part 1 implements income tax measures and related measures proposed or referenced in the April 21, 2015 budget. In particular, it
(a) reduces the required minimum amount that must be withdrawn annually from a registered retirement income fund, a variable benefit money purchase registered pension plan or a pooled registered pension plan;
(b) ensures that amounts received on account of the new critical injury benefit and the new family caregiver relief benefit under the Canadian Forces Members and Veterans Re-establishment and Compensation Act are exempt from income tax;
(c) decreases the small business tax rate and makes consequential adjustments to the dividend gross-up factor and dividend tax credit;
(d) increases the lifetime capital gains exemption to $1 million for qualified farm and fishing properties;
(e) introduces the home accessibility tax credit;
(f) extends, for one year, the mineral exploration tax credit for flow-through share investors;
(g) extends, for five years, the tax deferral regime that applies to patronage dividends paid to members by an eligible agricultural cooperative in the form of eligible shares;
(h) extends until the end of 2018 the temporary measure that allows certain family members to open a registered disability savings plan for an adult individual who might not be able to enter into a contract;
(i) permits certain foreign charitable foundations to be registered as qualified donees;
(j) increases the annual contribution limit for tax-free savings accounts to $10,000;
(k) creates a new quarterly remitter category for certain small new employers; and
(l) provides an accelerated capital cost allowance for investment in machinery and equipment used in manufacturing and processing.
Part 2 implements various measures for families.
Division 1 of Part 2 implements the income tax measures announced on October 30, 2014. It amends the Income Tax Act to increase the maximum annual amounts deductible for child care expenses, to repeal the child tax credit and to introduce the family tax cut credit that is modified to include transferred education-related amounts in the calculation of that credit as announced in the April 21, 2015 budget.
Division 2 of Part 2 amends the Universal Child Care Benefit Act to, effective January 1, 2015, enhance the universal child care benefit by providing $160 per month for children under six years of age and by providing a new benefit of $60 per month for children six years of age or older but under 18 years of age.
It also amends the Children’s Special Allowances Act to, effective January 1, 2015, increase the special allowance supplement for children under six years of age from $100 to $160 per month and introduce a special allowance supplement in the amount of $60 per month for children six years of age or older but under 18 years of age.
Part 3 enacts and amends several Acts in order to implement various measures.
Division 1 of Part 3 enacts the Federal Balanced Budget Act. That Act provides for certain measures that are to apply in the case of a projected or recorded deficit. It also provides for the appearance of the Minister of Finance before a House of Commons committee to explain the reasons for the deficit and present a plan for a return to balanced budgets.
Division 2 of Part 3 enacts the Prevention of Terrorist Travel Act in order to establish a mechanism to protect information in respect of judicial proceedings in relation to decisions made by the designated minister under the Canadian Passport Order to prevent the commission of a terrorism offence or for the purposes of the national security of Canada or a foreign country or state. It also makes a related amendment to the Canada Evidence Act.
Division 3 of Part 3 amends the Industrial Design Act, the Patent Act and the Trade-marks Act to, among other things, provide for extensions of time limits in unforeseen circumstances and provide the authority to make regulations respecting the correction of obvious errors. It also amends the Patent Act and the Trade-marks Act to protect communications between patent or trade-mark agents and their clients in the same way as communications that are subject to solicitor-client privilege.
Division 4 of Part 3 amends the Canada Labour Code to increase the maximum amount of compassionate care leave to 28 weeks and to extend to 52 weeks the period within which that leave may be taken. It also amends the Employment Insurance Act to, among other things, increase to 26 the maximum number of weeks of compassionate care benefits and to extend to 52 weeks the period within which those benefits may be paid.
Division 5 of Part 3 amends the Copyright Act to extend the term of copyright protection for a published sound recording and a performer’s performance fixed in a published sound recording from 50 years to 70 years after publication. However, the term is capped at 100 years after the first fixation of, respectively, the sound recording or the performer’s performance in a sound recording.
Division 6 of Part 3 amends the Export Development Act to add a development finance function to the current mandate of Export Development Canada (EDC), which will enable EDC to provide development financing and other forms of development support in a manner consistent with Canada’s international development priorities. The amendments also provide that the Minister for International Trade is to consult the Minister for International Development on matters related to EDC’s development finance function.
Division 7 of Part 3 amends the Canada Labour Code in order to, among other things, provide that Parts II and III of that Act apply to persons who are not employees but who perform for employers activities whose primary purpose is to enable those persons to acquire knowledge or experience, set out circumstances in which Part III of that Act does not apply to those persons and provide for regulations to be made to apply and adapt any provision of that Part to them.
Division 8 of Part 3 amends the Members of Parliament Retiring Allowances Act to, among other things, provide that the Chief Actuary is not permitted to distinguish between members of either House of Parliament when fixing contribution rates under that Act.
Division 9 of Part 3 amends the National Energy Board Act to extend the maximum duration of licences for the exportation of natural gas that are issued under that Act.
Division 10 of Part 3 amends the Parliament of Canada Act to establish an office to be called the Parliamentary Protective Service, which is to be responsible for all matters with respect to physical security throughout the parliamentary precinct and Parliament Hill and is to be under the responsibility of the Speaker of the Senate and the Speaker of the House of Commons. The Division provides that the Speakers of the two Houses of Parliament and the Minister of Public Safety and Emergency Preparedness must enter into an arrangement to have the Royal Canadian Mounted Police provide physical security services throughout that precinct and Parliament Hill. It also makes consequential amendments to other Acts.
Division 11 of Part 3 amends the definition “insured participant” in the Employment Insurance Act to extend eligibility for assistance under employment benefits under Part II of that Act, while providing that the definition as it reads before that Division comes into force may continue to apply for the purposes of an agreement with a government under section 63 of that Act that is entered into after that Division comes into force. It also contains transitional provisions and makes consequential amendments.
Division 12 of Part 3 amends the Canada Small Business Financing Act to modify the definition “small business” in order to increase the maximum amount of estimated gross annual revenue referred to in that definition. It also amends provisions of that Act that relate to eligibility criteria for borrowers for the purpose of financing the purchase or improvement of real property or immovables, in order to increase the maximum outstanding loan amount.
Division 13 of Part 3 amends the Personal Information Protection and Electronic Documents Act to extend the application of that Act to organizations set out in Schedule 4 in respect of personal information described in that Schedule.
Division 14 of Part 3 amends the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to require the Financial Transactions and Reports Analysis Centre of Canada to disclose designated information to provincial securities regulators in certain circumstances.
Division 15 of Part 3 amends the Immigration and Refugee Protection Act to
(a) clarify and expand the application of certain provisions requiring the collection of biometric information so that those requirements apply not only to applications for a temporary resident visa, work permit or study permit but may also apply to other types of applications, claims and requests made under that Act that are specified in the regulations; and
(b) authorize the Minister of Citizenship and Immigration and the Minister of Public Safety and Emergency Preparedness to administer that Act using electronic means, including by allowing the making of an automated decision and by requiring the making of an application, request or claim, the submitting of documents or the providing of information, using electronic means.
Division 16 of Part 3 amends the First Nations Fiscal Management Act to accelerate and streamline participation in the scheme established under that Act, reduce the regulatory burden on participating first nations and strengthen the confidence of capital markets and investors in respect of that scheme.
Division 17 of Part 3 amends the Canadian Forces Members and Veterans Re-establishment and Compensation Act to
(a) add a purpose statement to that Act;
(b) improve the transition process of Canadian Forces members and veterans to civilian life by allowing the Minister of Veterans Affairs to make decisions in respect of applications made by those members for services, assistance and compensation under that Act before their release from the Canadian Forces and to provide members and veterans with information and guidance before and after their release;
(c) establish the retirement income security benefit to provide eligible veterans and survivors with a continued financial benefit after the age of 65 years;
(d) establish the critical injury benefit to provide eligible Canadian Forces members and veterans with lump-sum compensation for severe, sudden and traumatic injuries or acute diseases that are service related, regardless of whether they result in permanent disability; and
(e) establish the family caregiver relief benefit to provide eligible veterans who require a high level of ongoing care from an informal caregiver with an annual grant to recognize that caregiver’s support.
The Division also amends the Veterans Review and Appeal Board Act as a consequence of the establishment of the critical injury benefit.
Division 18 of Part 3 amends the Ending the Long-gun Registry Act to, among other things, provide that the Access to Information Act and the Privacy Act do not apply with respect to records and copies of records that are to be destroyed in accordance with the Ending the Long-gun Registry Act. The non-application of the Access to Information Act and the Privacy Act is retroactive to October 25, 2011, the day on which the Ending the Long-gun Registry Act was introduced into Parliament.
Division 19 of Part 3 amends the Trust and Loan Companies Act, the Bank Act, the Insurance Companies Act and the Cooperative Credit Associations Act to modernize, clarify and enhance the protection of prescribed supervisory information that relates to federally regulated financial institutions.
Division 20 of Part 3 authorizes the Treasury Board to establish and modify, despite the Public Service Labour Relations Act, terms and conditions of employment related to the sick leave of employees who are employed in the core public administration.
It also authorizes the Treasury Board to establish and modify, despite that Act, a short-term disability program, and it requires the Treasury Board to establish a committee to make joint recommendations regarding any modifications to that program.
Finally, it authorizes the Treasury Board to modify, despite that Act, the existing public service long-term disability programs in respect of the period during which employees are not entitled to receive benefits.

Business of the House

[Peter Van Loan, Conservative, Leader of the Government in the House of Commons]

Mr. Speaker, our government, of course, continues on its commitment to help out families, not just by lowering the costs they pay for products and services but, most important, by lowering taxes that they are required to pay to the government and providing more money in their pockets to help them make ends meet. We think that is one of the most meaningful things we can do as a government: help Canadians succeed and meet their aspirations and dreams for a brighter future.

This afternoon will be dedicated to today’s NDP’s opposition day motion.

Tomorrow, we will wrap up the third reading debate on Bill S-6, the Yukon and Nunavut regulatory improvement act. This will be the sixth day of debate for that particular piece of legislation, which would support economic development north of 60 while ensuring the preservation of the environment.

Monday shall be the eighth allotted day when we will debate another NDP opposition day motion. Regrettably, I have noticed that the NDP leader has never taken me up on my suggestion that he allow the House an extended debate on one of their proposals, under Standing Order 81(16)(a). As a result, next week, we will have the 88th time-allocated opposition day of this Parliament.

That evening, as required by the Standing Orders, we will debate the main estimates. Then, we will consider an appropriations bill, the supplementary estimates, followed by a second appropriations bill.

Tuesday morning, we will consider Bill S-2, the incorporation by reference in regulations act, at report stage. This legislation will help streamline regulations and ensure that important safety rules keep up with evolving developments and standards.

In the afternoon, we will take up Bill C-59, economic action plan 2015, No. 1, at report stage, in anticipation that it will be reported back to the House tomorrow.

This package of essential measures—such as the family tax cut, enhancements to the universal child care benefit, and a reduction to the small business income tax—is an important priority for our Conservative government and I think, more important, a priority for Canadian families.

Since the budget was delivered this spring, however, the Liberal leader has let us and all Canadians in on his economic plans.

First, we learned he thinks that “benefiting every single family is not...fair”.

Then, he topped it off when he told Canadians that the Liberals are looking at a mandatory expansion of the Canada pension plan. That would mean a $1,000 tax hike for a typical earner and for that earner's employer, and that $1,000 tax increase on two sides would be a significant potential impairment and drag on our economy. Certainly, it would be a huge drag on the personal finances of Canadian families.

On Wednesday, we will return to Bill C-59, if additional time is needed.

Thursday morning, we will consider Bill C-35, which is the justice for animals in service act, Quanto's law, at report stage and, ideally, third reading.

This is an important bill, which would ensure appropriate criminal penalties for killing or harming police animals and other service animals—dogs, horses, and so on—and speedy consideration of it would be favourable because that would allow it to pass and make it to the Senate for its consideration this spring.

I would remind the House the bill has already received four days of second reading debate and was in the justice committee for over five months.

That afternoon, we will again consider Bill S-2, and I hope it will be at third reading.

Next Friday, we will return to Bill S-7, the zero tolerance for barbaric cultural practices act, at report stage. The House will recall that we are debating the opposition's amendments to gut the bill of its entire contents—contents that demonstrate our Conservative government's commitment to end violence against women and girls.

Public Safety

[Françoise Boivin, NDP, Gatineau, QC]

Mr. Speaker, I smell another video coming.

The Information Commissioner of Canada, Suzanne Legault, has already warned the government that the retroactive amendments to the Access to Information Act set out in Bill C-59 set “a perilous precedent against Canadians' quasi-constitutional right to know”. However, the government chose to ignore her.

Desperate times call for desperate measures. Ms. Legault recently filed an order in Federal Court to prevent the Conservatives from destroying the data.

Why is the government stubbornly refusing to listen to the commissioner?

Privacy Protection

[Rosane Doré Lefebvre, NDP, Alfred-Pellan, QC]

Mr. Speaker, today, with Bill C-59, the Conservatives want to collect biometric data on visitors with visas from over 151 countries.

The Privacy Commissioner was very clear about this. When the government collects that much information, special precautions are required to protect privacy and prevent the theft of personal information, especially considering the Conservatives' record on this, which is downright disastrous.

Will the Conservatives come up with additional measures to protect privacy?

Criminal Code

[Andrew Cash, NDP, Davenport, ON]

Mr. Speaker, following the overwhelming support that my motion received to ban unfair pay-to-pay bank fees, I would like to seek unanimous consent for the following motion. I move that it be an instruction to the Standing Committee on Finance that it have the power to expand the scope of Bill C-59, an act to implement certain provisions of the budget tabled in Parliament on April 21, 2015, and other measures, in order to protect consumers by banning all pay-to-pay practices by banks operating in Canada.

Veterans

[Erin O'Toole, Conservative, Minister of Veterans Affairs]

Mr. Speaker, I agree, the litigation process can be adversarial. That is why I appreciate the efforts that the Equitas Society has made over the last few months to build a respectful dialogue on veterans' issues, including the purpose clause stating our obligation to our veterans that found its way into Bill C-59.

For that reason, I hope that member can finally drop the rhetoric, get behind the bill and support our veterans.

Parliamentary Privilege

[Brent Rathgeber, Independent, Edmonton—St. Albert, AB]

Mr. Speaker, omnibus budget bills are undemocratic and unfair, contain wedge issues and make a member of Parliament's job impossible to complete. On Monday night, the House was forced to cast a single yea or nay vote on Bill C-59, the government's latest omnibus budget bill. The bill is 157 pages long, divided into three parts, and part 3 is further divided into 20 divisions. This allows for a wide range of disparate topics to be covered, some supportable, many not.

I support most of the tax credits and actual budgetary items. However, I strongly oppose retroactively amending the access act to allow for the premature destruction of records. I supported ending the long gun registry, but to retroactively change the law dealing with the records while the abolition bill was being debated is a dangerous, undemocratic precedent.

In any functioning parliamentary system, this omnibus bill would be divided and there were would be separate votes on each part and on every division within each part. It is simply impossible to cast a single yea or nay on an entire disparate package.

If the government will not respect Parliament enough to allow us to do our jobs, then the Speaker must intervene to defend parliamentary privilege. That is how a functioning parliamentary democracy would proceed.

Opposition Motion—Federal Science Research

[Mauril Bélanger, Liberal, Ottawa—Vanier, ON]

Yes, I am alarmed, Mr. Speaker.

There is a new phenomenon in this city that I have not seen before. In the past, I found that when public servants retired, they were somewhat discreet and did not get actively involved in political parties. However, what I find today is rather surprising in that when they retire, they very rapidly join our party. They want to get rid of the Conservative government because of the way they have been treated, and it is not just the scientists but other public servants as well. I have mentioned this before.

In Bill C-4, the government totally put in shambles the laws governing the relationship with our public service. In the current bill before the House, Bill C-59, it is the same thing. The Conservatives would give the President of the Treasury Board total power to decide unilaterally, without negotiation, how to arrive at a sick leave program. It is not through negotiations anymore.

What has happened in the last few years is that our federal public service has been totally mistreated, and it is not prepared to accept that anymore, including the scientists.

Business of the House

[Peter Van Loan, Conservative, Leader of the Government in the House of Commons]

Mr. Speaker, we have no shortage of very important work to attend to.

This afternoon and tomorrow we will continue debating Bill C-59, economic action plan 2015 act, no. 1, to implement important measures from the spring's budget, such as the family tax cut, enhancements to the universal child care benefit and a reduction to the small business income tax.

The parties across the way have made no secret of their opposition to the excellent tax reduction measures we have proposed, and this week the hon. member for Papineau explained why. As he told the House on Tuesday, “benefiting every single family is not...fair”. Well, that is consistent with his approach to fiscal policy, that budgets balance themselves.

However, our budget implementation bill will deliver those benefits to every family, because that is the fair Canadian thing to do.

After our constituency week, on Monday, May 25, we will debate Bill S-6, the Yukon and Nunavut regulatory improvement act at report stage. This bill will improve opportunities for economic development north of 60.

After question period that same day, we will take up Bill C-42, the common sense firearms licensing act at report stage, and hopefully third reading. Unnecessary, cumbersome red tape facing law-abiding gun owners across Canada will be reduced, thanks to this legislation.

Also, pursuant to Standing Order 81(4)(a), I am appointing that day, Monday, May 25, as the day for consideration, in a committee of the whole, of all votes in the main estimates, for 2015-16, related to finance.

Tuesday, May 26, will be the fifth allotted day. We will debate a Liberal proposal. I expect the Liberal leader will explain why helping every family is not fair.

We will return to the third reading debate on Bill C-52, the Safe and Accountable Rail Act, on Wednesday, May 27, when I am hopeful that it will pass.

The following day, we will continue the third reading debate on Bill S-3, the Port State Measures Agreement Implementation Act. In debate last week, the hon. member for Charlesbourg—Haute-Saint-Charles said, “Soon, we will pass this bill”. I look forward to her NDP colleagues proving the hon. member right.

Later that Thursday, we will start the report stage for Bill S-7, the Zero Tolerance for Barbaric Cultural Practices Act, which will re-affirm this Parliament’s ongoing efforts to end violence against women and girls.

Bill C-59—Time Allocation Motion

[Joe Oliver, Conservative, Minister of Finance]

Mr. Speaker, Bill C-59 is in line with our government's plan for low taxes and a balanced budget to promote employment, growth and security. The budget implementation bill contains measures that were announced in economic action plan 2015. Many of these measures are tax-related, but they all achieve one main goal: Canada's long-term prosperity.

It is common practice, even for Liberal governments, to include various measures in a budget. That is nothing new or out of the ordinary.

As to the question about veterans, our Conservative government places the highest priority on making sure that veterans and their families have the support and the services that they need when they need them. Our government made significant progress in key areas, such as long-term financial security, increased family support and removing barriers of eligibility for certain financial benefits.

Canadian Armed Forces veterans who are moderately to seriously disabled as a result of their service will soon have additional benefits after age 65 and new money to support family caregivers. In addition, those from the Canadian reserve forces will receive fair financial benefits from VAC.

These new initiatives are evidence of our government's commitment to ensuring that Canadian veterans and their families are treated with care, compassion and respect.

[Peter Julian, NDP, Burnaby—New Westminster, BC]

Mr. Speaker, this is another sad day. This is the 96th time this government has invoked closure or time allocation in this Parliament. No other government has done that. Canada has never had a government that has abused time allocation and closure as much as this one has. This is a sign of arrogance and incompetence because many of the bills that the government has introduced in the House of Commons have been rejected by the courts. They reject the legislation because the government does not really double-check its bills as much as it needs to.

Sadly, this is the 96th time in this Parliament, which is the worst record of all time. It is three times worse than any other previous government for bringing in closure and time allocation.

The government is going to say that it is trying to do this for our veterans. We will recall that after years of neglect of our nation's veterans and years of just refusing, cutting back on services and treating our nation's veterans with disdain, the Conservatives finally introduced a bill that would help to improve the situation. That is Bill C-58, which has sat on the order paper all week. For days, the NDP has been standing up and asking for unanimous consent to get Bill C-58 for veterans into committee so that veterans can start getting the relief that is called for. Instead, the government is saying that it is going to make them wait even longer with Bill C-59.

The question is very simple. Why are the Conservatives playing so many games with veterans? Why do they not heed the message from Alberta and, instead of showing such arrogance and incompetence, why do they not work with the opposition parties so that they can get good legislation that is not rejected by the courts?

[Peter Van Loan, Conservative, Leader of the Government in the House of Commons]

moved:

That, in relation to Bill C-59, An Act to implement certain provisions of the budget tabled in Parliament on April 21, 2015 and other measures, not more than two further sitting days shall be allotted to the consideration of the second reading stage of the bill;

That, 15 minutes before the expiry of the time provided for government orders on the second day allotted to the consideration of the second reading stage of the said bill, any proceedings before the House shall be interrupted, if required for the purpose of this order, and, in turn, every question necessary for the disposal of the stage of the bill shall be put forthwith and successively, without further debate or amendment.

Indian Affairs and Northern Development--Main Estimates, 2015-2016

[Mark Strahl, Conservative, Chilliwack—Fraser Canyon, BC]

Mr. Chair, it is an important study of which the member has been a key part. We have heard from aboriginal stakeholders from across the country and from aboriginal financial institutions, who are all talking about some of the challenges in accessing capital on reserve and some of the success stories.

Certainly, as we proceed with the study, we want to examine and identify the barriers to capital access, so that we can continue to overcome those as we have with the FNMLA and other important investments, such as our Bill C-59 with the first nations financial management authority.

[Kyle Seeback, Conservative, Brampton West, ON]

Mr. Chair, I am thankful for the opportunity to speak this evening to explain some of the impressive work our government is doing to drive economic development on reserve to my colleagues. When we talk about that, one of the biggest issues is access to capital. Right now our committee is in fact conducting a study on access to capital. We have heard some very interesting and impressive testimony to deal with some of the issues that are faced by first nations communities.

When we are talking about access to capital, we are talking about funding to start a small business or to expand a business, to perhaps purchase a family home, or to leverage real property and entice investors from off reserve. This remains an enormous problem due to section 89 of the Indian Act, which prevents fee simple ownership. Therefore, it really limits the use of property as a security when trying to negotiate that type of financing. That type of financing is critical for most businesses off reserve, the ability to leverage real property. This is essential for entrepreneurs, small business and really anyone who is seeking any amount of capital to start or expand a business.

Our government understands how this can limit the potential of first nations, so we are working with willing partners to try to find a solution to the problem.

One of the solutions we heard about a bit earlier was the First Nations Land Management Act. This is a great piece of opt-in legislation. It allows a participating first nation to actually opt out of 34 land-related sections of the Indian Act. It gives a first nation the ability to manage its lands and resources. It also gives it the ability to operate at the “speed of business”, a phrase we have heard many times. The inability to operate at the speed of business has been an incredible impediment to first nations communities.

Another important tool is the First Nations Fiscal Management Act. This is also opt-in legislation. This encourages first nations across Canada to establish property tax systems and strengthen fiscal management. It provides them with increased revenue raising tools, strong standards for accountability and access to capital markets available to other levels of governments. The act does this in three ways, through three aboriginal financial institutions: first, the First Nations Tax Commission; second, the Financial Management Board; and three, the First Nations Finance Authority. I will talk a bit about each.

The First Nations Tax Commission creates legal, administrative and infrastructure framework for first nations to establish property tax regimes. Property tax allows a first nations government to have a reliable stream of income that it can leverage into loans with other financial institutions to do all kinds of improvements on reserve.

The First Nations Financial Management Board certifies the financial management systems and performances of individual first nations. This ensures good governance and fiscal responsibility. It assists first nations in developing the capacity to meet their financial management requirements, provides the tools and guidance that will instill confidence in first nations financial management and reporting systems.

Finally, the First Nations Finance Authority issues bonds to borrowing first nations, secured by the revenue coming in from things like property tax and other revenues. The First Nations Finance Authority is a non-profit aboriginal government-owned and controlled institution built to provide all first nations and aboriginal governments, big or small, urban or remote, resource-rich or not, with the same finance instruments that other levels of government in Canada have at their disposal to build safe, healthy and prosperous communities. These bonds are sold on the market and provide participating first nations with an innovative way to access the capital required for economic development.

The First Nations Fiscal Management Act has been very successful, with strong and sustained demand from first nations to participate in the regime.

To build on this success, since 2007, the First Nations Financial Management Board, the First Nations Tax Commission and the First Nations Finance Authority have been working in concert with our government on a series of recommended changes to the act. These changes are designed to improve the legislation, reduce needless red tape and increase investor confidence. The overall goal is to improve the economic opportunities and well-being for first nations communities. In fact, we heard directly at committee during our study that changes were needed to make this operate more efficiently.

It makes me proud to say that Bill C-59, the budget implementation act, introduced on May 7, proposes 43 administrative and technical changes to the legislation. These changes would streamline participation in the regime by providing for first nations to be added by ministerial order rather than an order in council.

It would eliminate the duplication and needless red tape, and strengthen the confidence of capital markets and investors. For example, one proposed amendment would clarify that all certified first nations must remain in compliance with the certification requirements of the financial management board. This proposed legislation could have a significant and positive effect on first nations and I urge all hon. members to support it.

It is projected, and these projections are really quite exceptional, that if the act is amended as suggested, by 2020, a mere five years from now, 235 first nations will have opted into the regime, $70 million annually will be collected in property taxes, 100 first nations will have received certification from the First Nations Financial Management Board, and $1 billion in borrowing room will be available to borrowing members. This is the example of being able to leverage that revenue stream and turn it into funding for infrastructure projects on first nations reserves. This is an exceptional opportunity.

To date, the regime has been very successful and I welcome the opportunity for more first nations to become active participants. Demonstrating the potential advantages for first nations of this regime, in June of last year, 14 first nations from British Columbia, Manitoba, Nova Scotia and Ontario were part of the first nations finance authority's inaugural $90 million bond. The proceeds of this bond are being used for vital things, such as building roads, water, waste water systems, public buildings, as well as refinancing existing bank loans and economic opportunities both on and off reserve.

In fact, in some of the testimony heard at committee, this would allow a first nation community to save $140,000 a month, which is equivalent to building one house on reserve. The bond issuance was a significant achievement for first nations and the first nations finance authority.

Chief Terry Paul of the Membertou First Nation in Nova Scotia, which raised $21 million through the bond, and the chair of the FNFA, stated:

Today, First Nations have made a significant step forward as economic equals with other governments. Over the long-term, this will have a profound and positive impact in our communities.

The first nations finance authority is currently working toward issuing its second bond, which it expects to exceed $100 million later this year. Access to capital is the key to unlocking the economic potential of our first nation communities.

I now have some questions.

On May 7, 2015, the government took, as I stated, another important step to promote prosperity in first nations communities and introduced Bill C-59, which includes a number of amendments to the First Nations Fiscal Management Act. Earlier this year, the aboriginal affairs committee heard testimony from Manny Jules, Harold Calla and Ernie Daniels, all of whom had worked hard to identify ways that the act could be improved.

Could the parliamentary secretary share with the rest of the committee of the whole what the proposed amendments to the First Nations Fiscal Management Act intend to achieve?

[Mark Strahl, Conservative, Chilliwack—Fraser Canyon, BC]

Mr. Chair, I was hoping the minister could talk a bit about the amendments to the First Nations Fiscal Management Act, which are part of Bill C-59, the budget implementation act that was introduced this week.

Bill C-59—Notice of time allocation motion

[Peter Van Loan, Conservative, Leader of the Government in the House of Commons]

Mr. Speaker, I would like to advise that an agreement could not be reached under the provisions of Standing Order 78(1) or 78(2) with respect to the second reading stage of Bill C-59, An Act to implement certain provisions of the budget tabled in Parliament on April 21, 2015 and other measures.

Under the provisions of Standing Order 78(3), I give notice that a minister of the Crown will propose at the next sitting a motion to allot a specific number of days or hours for the consideration and disposal of proceedings at the said stage.