FINA Committee Meeting

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MINUTES OF PROCEEDINGS

Meeting No. 77

Thursday, October 2, 2003

The Standing Committee on Finance met at 12:36 p.m. this day, in Room 253-D Centre Block, the Chair, Sue Barnes, presiding.

Members of the Committee present: Sue Barnes, Roy Cullen, Nick Discepola, Maria Minna, Shawn Murphy, Pierre Paquette, Gary Pillitteri, Tony Valeri and Bryon Wilfert.

Acting Members present: Larry Bagnell for Sophia Leung, David Chatters for Richard Harris and Paul Steckle for Albina Guarnieri.

In attendance: Library of Parliament: Blayne Haggart, Analyst ; Stephen Laurent, Analyst . House of Commons: Joann Garbig, Legislative Clerk.

Pursuant to the Order of Reference of Tuesday, September 30, 2003, the Committee resumed consideration of Bill C-48, An Act to amend the Income Tax Act (natural resources).

It was agreed, — That Clause 1 be allowed to stand.

It was agreed, — That Clause 2 be allowed to stand.

Clauses 3 to 13 inclusive carried severally.

It was agreed, — That Clause 14 be allowed to stand.

Clauses 15 to 18 inclusive carried severally.

It was agreed, — That the Committee revert to the consideration of Clause 14 previously stood.

Roy Cullen moved, — That Bill C-48, in Clause 14, be amended by replacing lines 10 to 12 on page 22 with the following:

“(i) in 2003, 10%,

(ii) in 2004, 14%, and

(iii) after 2004, 20%;”

Pierre Paquette moved, — That Bill C-48, in Clause 14, be amended by replacing lines 10 to 12 on page 22 with the following:

“(i) in 2003, 10%

(ii) in 2004, 14%, and

(iii) after 2004, 20%;”

Debate arose thereon.

The question was put on the amendment of Roy Cullen and it was negatived on the following recorded division: YEAS: David Chatters, Roy Cullen, Pierre Paquette — 3; NAYS: Larry Bagnell, Nick Discepola, Maria Minna, Shawn Murphy, Gary Pillitteri, Paul Steckle, Tony Valeri, Bryon Wilfert — 8.

It was agreed, — That the Committee revert to the consideration of Clause 1 previously stood.

Pierre Paquette moved, — That Bill C-48, in Clause 1, be amended(a) by replacing line 28 on page 3 with the following:

“( b ) that proportion of 100% that the”

(b) by replacing line 32 on page 3 with the following:

“( c ) that proportion of 100% that the”

“( d ) that proportion of 100% that the”

(d) by replacing line 40 on page 3 with the following:

“( e ) that proportion of 100% that the”

(e) by replacing line 10 on page 6 with the following:

“( b ) that proportion of 25% that the”

(f) by replacing line 14 on page 6 with the following:

“( c ) that proportion of 25% that the”

(g) by replacing line 18 on page 6 with the following:

“( d ) that proportion of 25% that the”

(h) by replacing line 22 on page 6 with the following:

“( e ) that proportion of 25% that the”

Debate arose thereon.

The question was put on the amendment of Pierre Paquette and it was negatived on the following recorded division: YEAS: Pierre Paquette — 1; NAYS: Larry Bagnell, David Chatters, Roy Cullen, Nick Discepola, Maria Minna, Shawn Murphy, Gary Pillitteri, Paul Steckle, Tony Valeri, Bryon Wilfert — 10.

By unanimous consent, it was agreed, — That the result of the vote on the previous amendment be applied to the following amendment which is therefore also negatived:

That Bill C-48, in Clause 2, be amended(a) by replacing line 21 on page 9 with the following:

“( b ) that proportion of 100% that the”

(b) by replacing line 25 on page 9 with the following:

“( c ) that proportion of 100% that the”

“( d ) that proportion of 100% that the”

(d) by replacing line 33 on page 9 with the following:

“( e ) that proportion of 100% that the”

Clause 1 carried on division.

Clause 2 carried.

The Title carried on division.

The Bill carried on division.

At 1:15 p.m., the Committee adjourned to the call of the Chair.

Richard Dupuis, Caroline Martin
Clerks of the Committee

2003/10/07 12:36 p.m.