Income Tax Amendment Act, 2019
This legislation brings together the final fiscal elements of the policy framework for natural gas development in B.C. – bringing long-term benefits to the province, securing thousands of well-paying jobs for British Columbians and working to uphold strong environmental protections. Once implemented, this legislation will deliver the fiscal setting needed for LNG Canada’s proposed $40-billion project in northern British Columbia – the largest private-sector investment in B.C.’s history. It is expected to create 10,000 construction jobs and up to 950 permanent jobs in the Kitimat processing terminal. Additionally, this project is on track to be the cleanest of its kind in the world, meaning it will fit within the greenhouse gas reduction targets of government’s CleanBC climate action plan.