Bill S-239 explained in plain English
An Act to amend the Criminal Code (criminal interest rate)
Federal Parliament bill summary, status, timeline, sponsor, votes, and official sources.
At a glance
Official Parliament of Canada snapshot for 44th Parliament, 1st Session. MP vote breakdowns appear when the House of Commons publishes a recorded division export for that bill. Senate and House stage details include official debate/sitting links when LEGISinfo publishes them.
Our plain-language take, written for civic education.
Source: By PoliticalData.ca
Bill S-239 amends the Criminal Code to redefine the criminal interest rate as exceeding the Bank of Canada’s overnight rate plus 20%, replacing the current 60% threshold.
Bill S-239 proposes to amend the Criminal Code to change the definition of the 'criminal rate' of interest. Under the current law, a rate exceeding 60% is considered criminal. The bill would replace this with a rate that exceeds the Bank of Canada’s overnight rate by 20%. The changes would take effect 60 days after the bill receives royal assent.
- Replaces the definition of 'criminal rate' in subsection 347(2) of the Criminal Code
- Defines the criminal rate as an effective annual interest rate that exceeds the Bank of Canada’s overnight rate by 20%
- Adds a new definition for 'Bank of Canada’s overnight rate' in relation to credit advances
- Specifies the bill comes into force 60 days after receiving royal assent
- Individuals or entities charging interest rates on credit agreements
- Financial institutions or lenders
- Law enforcement and courts interpreting criminal interest rate violations
- The exact calculation method for the Bank of Canada’s overnight rate plus 20% is not specified in the text
- The application of the new definition to existing agreements is not clarified
- The impact on current criminal interest rate prosecutions is not addressed
The definition of 'criminal rate' is changed from a fixed 60% threshold to a rate based on the Bank of Canada’s overnight rate plus 20%.
Source: Clause 1(1) and (2)
The bill will become active 60 days after it is officially approved by the Governor General.
Source: Clause 2
Generated using AI from official bill text. Not legal advice. It is written by PoliticalData.ca for civic education, automatically checked and spot-reviewed before publishing.
Official textParliamentary Process
Bill S-239, an act to amend the Criminal Code regarding the criminal interest rate, completed its first reading in the Senate on March 1, 2022, and is currently undergoing debate at the second reading stage.
Bill S-239, concerning the criminal interest rate, had its first reading in the Senate on March 1, 2022. This is a procedural step where a bill is formally introduced. The bill is currently at the second reading stage in the Senate. Debates at the second reading stage have taken place, including a sponsor's speech on March 22, 2022, and further debate on April 20, 2023. Previous Parliaments have seen similar bills addressing the criminal interest rate.
On March 1, 2022, the Senate of Canada completed the first reading of Bill S-239, an Act to amend the Criminal Code concerning the criminal interest rate, and scheduled it for second reading.
On March 1, 2022, the Senate of Canada held its first reading of Bill S-239, An Act to amend the Criminal Code (criminal interest rate). This bill was introduced by Senator Pierrette Ringuette and was subsequently placed on the Order of the Day for second reading. The sitting also included various Senate proceedings such as Senators' Statements on topics like International Women's Day and the situation in Ukraine, Routine Proceedings where committee reports were presented and notices of motions were given, Question Period addressing matters of national defence, finance, and international affairs, and the continuation of debates on other bills. The record indicates that the introduction and first reading of Bill S-239 was a completed stage in the Senate's process.
Bill S-239 is undergoing second reading in the Senate as of April 20, 2023, with procedural records showing its introduction in 2022 and references to similar bills from prior sessions.
Bill S-239, titled 'An Act to amend the Criminal Code (criminal interest rate)', is currently at the second reading stage in the Senate. The latest recorded activity was a debate on Thursday, April 20, 2023. The bill was first introduced in the Senate on March 1, 2022, and its second reading was conducted on March 22, 2022, during Sitting 26. The record includes references to similar bills (S-233, S-237, S-210) introduced in previous Parliaments, which had different procedural statuses. This stage record does not contain the full bill text or detailed debate content, but it outlines procedural milestones. The official source text does not specify the legal amendments proposed or detailed discussion points beyond procedural tracking.
During a Senate sitting on March 22, 2022, the second reading debate for Bill S-239, concerning the criminal interest rate, was adjourned, alongside discussions on various other legislative matters and government actions.
On March 22, 2022, the Senate of Canada met. The sitting included routine proceedings, question period, and the consideration of various bills and motions. One of the items under "Orders of the Day" was the second reading of Bill S-239, An Act to amend the Criminal Code (criminal interest rate). The debate on this bill was adjourned. Other discussions included Senator Housakos raising concerns about the agreement between the Liberal government and the NDP, Senator Carignan questioning access to information timelines, and Senator Moodie asking about child care agreements. Senators also debated conversion therapy, the UN General Assembly, suicide prevention, and the role of municipalities. A significant portion of the sitting involved the Senate considering Bill S-224, an act to amend the Criminal Code concerning human trafficking, and Bill S-232, concerning a health-centred approach to substance use. The sitting also included a motion adopted to print an address by Ukrainian President Volodymyr Zelenskyy as an appendix to the Debates of the Senate.
Senator Pierrette Ringuette spoke in favour of Bill S-239, proposing to lower the criminal interest rate from 60% to 20% above the Bank of Canada's rate, aiming to protect vulnerable Canadians from excessive charges on loans and late fees.
This artifact summarizes a speech given by Senator Pierrette Ringuette in the Senate on March 22, 2022, regarding Bill S-239. The bill aims to lower the criminal interest rate. Senator Ringuette explained that the current criminal interest rate is set at 60% in the Criminal Code and has not been updated since 1981. The proposed change would set the maximum interest rate at 20% above the Bank of Canada's rate, which is currently 0.5%, resulting in a maximum rate of 20.5%. The senator argued that this change would not affect most standard financial transactions like credit cards or mortgages but would target excessive outliers such as late fees from utility companies, instalment loans, and some store-branded credit cards. She stated that the bill's purpose is not to criminalize legitimate financial activity but to force down excessive interest rates, noting that the Criminal Code's section 347 is used in civil disputes, not criminal matters. The senator also briefly discussed payday loans, noting they were carved out of section 347 in 2006 and are now regulated by provinces, with Quebec being the only province that effectively bans them by not licensing lenders charging more than 35%. Senator Ringuette expressed optimism for the bill's passage, having introduced similar legislation in previous parliamentary sessions that did not pass due to elections. She also highlighted the growing consumer debt in Canada and presented the bill as a fairness measure to help marginalized individuals access loans at more reasonable rates.
The Senate debated amendments to the Radiocommunication Act, focusing on spectrum regulation, licensing, and digital equity for Indigenous communities.
The provided data contains Senate debate transcripts discussing Bill S-242, which amends the Radiocommunication Act. Key topics include spectrum management, licensing requirements for sub-licences, and the role of the Canadian Radio-television and Telecommunications Commission (CRTC). Debate segments also touch on Indigenous communities' access to digital infrastructure and the need for modernizing regulatory frameworks to address emerging technologies.
Bill S-239, related to the criminal interest rate, has not yet reached the third reading stage in the Senate, with its most recent activity being a debate at second reading in April 2023.
This artifact indicates that Bill S-239, concerning amendments to the Criminal Code related to the criminal interest rate, has not yet reached the third reading stage in the Senate. The latest recorded activity was a debate at the second reading stage on Thursday, April 20, 2023. The bill had its first reading on Tuesday, March 1, 2022, and its second reading on Tuesday, March 22, 2022. The artifact also lists similar bills introduced in previous Parliaments.
Bill S-239, concerning the criminal interest rate, has not yet reached its First Reading stage in the House of Commons, although it has progressed to Second Reading in the Senate.
This artifact describes the procedural status of Bill S-239 at the First Reading stage in the House of Commons. The 'Stage state' is listed as 'Not reached', indicating that this procedural step has not yet occurred for this bill. The bill is currently at the Second Reading stage in the Senate. The artifact also notes the date of First Reading in the House of Commons (March 1, 2022) and Second Reading in the Senate (March 22, 2022), as well as a debate at Second Reading in the Senate on April 20, 2023. It also lists similar bills that were introduced in previous Parliaments.
Bill S-239 has not yet reached the second reading stage in the House of Commons, although it is currently undergoing second reading debate in the Senate.
This artifact describes the procedural status of Bill S-239 in the House of Commons. It indicates that the bill has not yet reached the second reading stage in the House of Commons. The provided text also notes that the bill is currently at the second reading stage in the Senate, with a debate having occurred on April 20, 2023. It also references similar bills (S-233, S-237, S-210) that were introduced in previous parliamentary sessions.
Bill S-239, concerning the criminal interest rate, has not yet reached the committee stage in the House of Commons and is currently undergoing second reading debate in the Senate.
This artifact describes the legislative process for Bill S-239. It indicates that the bill has not yet reached the 'Consideration in committee' stage in the House of Commons. The bill is currently at the 'Second reading' stage in the Senate. The latest activity shown is a debate at second reading in the Senate on April 20, 2023. The artifact also lists previous similar bills.
Bill S-239 has not yet reached the Report stage in the House of Commons, with its most recent activity being debate at second reading in the Senate.
The provided artifact indicates that Bill S-239, concerning amendments to the Criminal Code related to the criminal interest rate, has not yet reached the Report stage in the House of Commons. The status for this specific stage is 'Not reached'. The latest activity noted is debate at second reading in the Senate on April 20, 2023.
Bill S-239 has not yet reached third reading in the House of Commons and is currently at second reading in the Senate.
The artifact indicates that Bill S-239 has not yet reached the third reading stage in the House of Commons. The bill is currently at the second reading stage in the Senate. The artifact also lists past events like the first reading in the Senate and debates at second reading, including a sponsor's speech. Information about similar bills from previous Parliaments is also provided.
Debate and sitting links point to official parliamentary sources when LEGISinfo publishes them. Any plain-language discussion summaries should be generated from those official texts and reviewed before public display.
Vote Summary
This bill is still active. We only show vote counts after the legislature publishes a recorded division.
No published representative vote breakdown
This bill is still moving through the process. When a recorded division is published, representative positions can be listed here.
Official sources
Status, sponsor, votes, and timeline on this page are drawn from these official legislative sources and public records. Each summary above is attributed to its own source.
How this data is sourced