Bill 49 explained in plain English
Anti-Money Laundering in Housing Act, 2021
Ontario legislature bill summary, status, timeline, sponsor, votes, and official sources.
At a glance
Official Legislative Assembly of Ontario snapshot for 42nd Parliament, 2nd 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 enacts the Anti-Money Laundering in Housing Act, 2021, requiring the Minister to establish a public registry of beneficial property owners and report on progress.
This bill enacts the Anti-Money Laundering in Housing Act, 2021. This Act requires the Minister of Municipal Affairs and Housing to create a plan for a public registry of beneficial property owners in Ontario. This registry will require corporations, trusts, and partnerships that own real estate to disclose their individual owners. The Minister must also prepare and present a progress report on this plan to the Legislative Assembly.
- Enacts the Anti-Money Laundering in Housing Act, 2021.
- Requires the Minister of Municipal Affairs and Housing to develop and implement a land owner transparency plan.
- Requires the plan to establish a public registry of beneficial property owners in Ontario.
- Specifies that corporations, trusts, and partnerships owning real property must disclose individual owners.
- Requires the Minister to establish the public registry within one year after the plan is developed.
- Requires the Minister to publish the plan on a government website.
- Details the required content of the land owner transparency plan, including steps to establish the registry, timelines, and a consultation plan.
- Requires the Minister to prepare and table a progress report on the plan in the Legislative Assembly within six months after the plan is developed.
- Specifies that the progress report must include the Minister's progress in establishing the public registry.
- Corporations that own real property in Ontario
- Trusts that own real property in Ontario
- Partnerships that own real property in Ontario
- The Minister of Municipal Affairs and Housing
- The Legislative Assembly of Ontario
- Stakeholders in the real estate industry, including the Ontario Real Estate Association
- Transparency advocates, including Transparency International Canada
- Corporations, trusts, and partnerships owning real property in Ontario are obligated to disclose individual owners as part of the transparency plan.
- The Minister has a duty to develop and implement a land owner transparency plan within six months of the Act coming into force.
- The Minister has a duty to establish the public registry within one year of the plan being developed.
- The Minister has a duty to publish the transparency plan on a government website.
- The Minister has a duty to prepare and table a progress report in the Legislative Assembly within six months of the plan being developed.
- The Act comes into force on the day it receives Royal Assent.
- The Minister must develop and implement the land owner transparency plan within six months after the Act comes into force.
- The Minister must establish the public registry within one year after the plan is developed.
- The Minister must prepare and table a progress report within six months after the land owner transparency plan is developed.
- The bill does not specify what penalties, if any, will apply for non-compliance with the disclosure requirements for corporations, trusts, and partnerships.
- The specific details of 'such other matters as the Minister considers advisable' to be included in the plan are not defined.
- The bill does not specify the exact form or content of the 'progress report' beyond stating it should include the Minister's progress in establishing the public registry.
This bill creates a new Act that establishes requirements for a land owner transparency plan and a public registry of beneficial property owners.
The Minister is responsible for developing and implementing the land owner transparency plan and establishing the public registry.
Source: Section 2(1)
This Act may assign the administration of the Anti-Money Laundering in Housing Act, 2021 to a different member of the Executive Council if specified under this Act.
Source: Section 1
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 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