Bill 61?I was wondering what could have possibly driven the higher volume we saw today, nobody was really interested in buying CRE for a little while but today was different..
I checked the respective government bodies (environmental), there were no apparent updates..
Then I just came accross Bill 61 that was introduced today to the National Assembly of QC
You will be able to download the bill at this
LINK Although I am not sure CRE could benefit from it, it will definitely give a push and accelerate the development of the $4.7B "Grande Alliance" project..
Am I wearing my
pink goggles as some like to say? Maybe, until we know for sure, here is what the bill is about:
The main object of this bill is to restart Qubec’s economy. It thus establishes a list of projects that may benefit from the
acceleration measures it provides for. The Government is given the power to designate, after consultation with the National Assembly, public infrastructure projects or projects developed by a municipality, another public body or a citizen which may also benefit from acceleration measures.
Projects developed by citizens must be aimed at increasing Qubec’s medical or food selfsufficiency. The Government may make a project benefit from the following acceleration measures:
(1) a streamlined expropriation procedure patterned on that applicable to the Rseau lectrique mtropolitain and the Rseau structurant de transport en commun de la Ville de Qubec;
(2) the possibility of commencing work on part of the domain of the State before the required rights are obtained; (
3) the replacement, by regulation, of certain provisions of the Environment Quality Act by provisions allowing the processes applicable under that Act to be streamlined and accelerated while ensuring adequate protection of the environment, in particular the provisions of that Act relating to the obligation to obtain a ministerial authorization and those applicable to the environmental impact assessment and review procedure; (4) the possibility of paying a financial compensation to the Minister of the Environment and the Fight Against Climate Change or the Minister of Forests, Wildlife and Parks, according to their respective fields of jurisdiction,
when they authorize activities in the habitat of a threatened or vulnerable plant species or in a wildlife habitat; (5) the presumption that work which may alter a fish habitat is authorized under the Act respecting the conservation and development of wildlife if the person responsible for the project meets the conditions prescribed by this bill; Cheers to all longs!