BILL 53

An Act to Amend the Assessment Act

Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:

1 Section 14 of the Assessment Act, chapter A-14 of the Revised Statutes, 1973, is amended by adding after subsection (9) the following:

14(9.01) Except as provided in subsections (9.02) and (9.03), real property leased by Her Majesty in right of the Province to the Maritime Forestry Complex Corporation shall, on or after January 1, 2000, be assessed in the name of Her Majesty in right of the Province.

14(9.02) Any portion of real property referred to in subsection (9.01), except the common areas and facilities, that is used or occupied by Her Majesty in right of Canada shall, on or after January 1, 2000, be assessed in the name of Her Majesty in right of Canada.

14(9.03) Any portion of real property referred to in subsection (9.01), except the common areas and facilities, that is used or occupied by any person other than the Maritime Forestry Complex Corporation, Her Majesty in right of Canada or the Province, The University of New Brunswick or the Maritime Forest Ranger School shall, on or after January 1, 2000, be assessed in the name of the Maritime Forestry Complex Corporation.

2 This Act shall be deemed to have come into force on January 1, 2000.

EXPLANATORY NOTES

Section 1

The mode of assessment of real property leased by the Province of New Brunswick to the Maritime Forestry Complex Corporation is specified.

Section 2

Commencement provision.