of Bill :
Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:
1 Section 6.1 of the Residential Property Tax Relief Act, chapter R-10 of the Revised Statutes, 1973, is amended by
(a) repealing subsection (1) and substituting the following:
6.1(1) Upon application to the Administrator, a person in whose name real property is assessed shall be allowed an amount determined in accordance with subsection (5) as an allowance to be applied against any tax arrears and penalties payable under the Real Property Tax Act and against taxes owing in respect of the real property for the year 1995 or any succeeding year if the person qualifies for a credit under section 2 in respect of that real property and the total taxable income of
(a) the person, and
(b) the person's spouse or the individual with whom the person cohabits as husband and wife, if any,
did not exceed the amount prescribed under subsection (7) in the previous calendar year.
(b) adding after subsection (4) the following:
6.1(5) The amount of an allowance in respect of real property is
(a) the total amount of the taxes in respect of the portion of that real property used as a residence which are imposed in the year in which the application for the allowance is made and which are due and payable in that year, or
(b) two hundred and twenty five-dollars,
whichever is lesser.
6.1(6) For the purposes of subsection (1), "taxable income" means taxable income as defined in the Income Tax Act (Canada).
6.1(7) For the purposes of subsection (1), the amount of total taxable income is twenty five thousand dollars or as prescribed by regulation.
2 Section 14 of the Act is amended by
(a) repealing paragraph (b) and substituting the following:
(b) respecting the amount of an allowance only if the amount is greater than what is prescribed by subsection 6.1(5);
(b) repealing paragraph (c) and substituting the following:
(c) prescribing an amount for the purposes of subsection 6.1(7) but only if the amount is greater than twenty five thousand dollars;
(c) repealing paragraph (c.2).
3 This Act shall be deemed to have come into force on January 1, 2006.