Bill 168 explained in plain English
Capping Ontario's Debt Act, 2016
Ontario legislature bill summary, status, timeline, sponsor, votes, and official sources.
At a glance
Official Legislative Assembly of Ontario snapshot for 41st Parliament, 1st Session. Representative vote breakdowns appear when the Assembly publishes an Ayes and Nays page for the bill.
Our plain-language take, written for civic education.
Source: By PoliticalData.ca
This bill amends the Financial Administration Act to limit Ontario's net debt to 45 per cent of its gross domestic product when borrowing or issuing securities.
This bill, known as the Capping Ontario's Debt Act, 2016, amends the Financial Administration Act. It states that the Ontario Crown cannot borrow money or receive money from selling securities if doing so would cause the province's net debt to become more than 45 per cent of its gross domestic product. The bill specifies how to calculate Ontario's gross domestic product for this purpose and defines "net debt" as the difference between the province's total liabilities and its financial assets. The Act comes into force the day it receives Royal Assent.
- Amends the Financial Administration Act to establish a debt limit for the Province of Ontario.
- Prohibits the Crown from borrowing money or receiving funds through the sale of securities if it would cause the net debt to exceed 45 per cent of the gross domestic product.
- Defines how Ontario's gross domestic product is to be calculated for the purpose of this debt limit.
- Defines the term 'net debt' for the purposes of this Act.
- The Government of Ontario (the Crown)
- The Minister of Finance
- The Crown is prohibited from borrowing or receiving money through securities if Ontario's net debt exceeds 45% of its gross domestic product.
- This Act comes into force on the day it receives Royal Assent.
- Places a limit on Ontario's net debt relative to its gross domestic product when borrowing or issuing securities.
- The bill does not specify what happens if the net debt limit is breached or if there are any exceptions to this rule.
Adds new provisions that restrict the Crown's ability to raise money through loans or the sale of securities if Ontario's net debt would exceed 45 per cent of its gross domestic product.
Source: Section 18
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 textProcess Snapshot
Vote Summary
This bill does not have a published recorded division in the current official sources, so representative-by-representative vote counts are not shown.
No published representative vote breakdown
The current official sources do not publish a recorded division breakdown for this bill, so there is no representative-by-representative table to show.
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