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1 In this Act:
"special account" means an account in the general fund of the consolidated revenue fund where the authorization to expend money from the account is located in an Act other than a Supply Act;
"Treasury Board" means the Treasury Board continued by the Financial Administration Act.
2 On March 31, 1988 the assets and liabilities of the following funds are transferred to and become special accounts in the general fund of the consolidated revenue fund:
Farm Income Assurance Fund;
First Citizens Fund;
Forest Stand Management Fund;
Habitat Conservation Fund;
Physical Fitness and Amateur Sports Fund.
3 The Lieutenant Governor in Council may transfer any amount of the balance in the Crown Land special account to the general fund of the consolidated revenue fund.
4 (1) The minister may pay or lend or provide loan guarantees to an amount equal to the interest calculated on and attributable to the balance in the First Citizens Fund special account for the purposes of advancing and expanding the culture, education and economic opportunities and the position of persons of North American aboriginal ancestry who are ordinarily resident in British Columbia.
(2) The balance in the First Citizens Fund special account is increased by $2 million effective on April 1, 2001.
(3) The balance of the First Citizens Fund special account is increased by
(a) $9 million effective on a day before April 1, 2002, as determined by Treasury Board, and
(b) an additional $9 million effective on April 1, 2002 and effective each subsequent April 1, up to and including April 1, 2004.
5 (1) Amounts paid into the Forest Stand Management Fund special account
(a) under
(i) section 30 of the Forest and Range Practices Act, or
(ii) section 71 of the Forest Practices Code of British Columbia Act
and earnings calculated and attributable to those amounts form a sub- account, called the Silviculture Payments Sub-account,
(b) under
(i) section 73 of the Forest and Range Practices Act,
(ii) section 117.2 of the Forest Practices Code of British Columbia Act, or
(iii) section 32 of the Wildfire Act
and earnings calculated and attributable to those amounts form a sub- account, called the Environmental Remediation Sub-account, and
(c) under section 105.3 of the Forest Act and earnings calculated and attributable to those amounts form a sub-account, called the Small Scale Salvage Sub-account.
(2) Despite section 21 (3) of the Financial Administration Act, the minister responsible for the administration of the Ministry of Forests and Range Act may expend amounts out of
(a) the Silviculture Payments Sub-account for a purpose related to the establishment of a free growing stand under section 30 of the Forest and Range Practices Act, or carrying out a silviculture prescription assumed under section 71 of the Forest Practices Code of British Columbia Act, and for expenses directly or indirectly related to such a purpose,
(b) the Environmental Remediation Sub-account for a purpose related to the following:
(i) to carry out work under section 74 (3) (b) of the Forest and Range Practices Act, or section 118 (3) (b) of the Forest Practices Code of British Columbia Act;
(ii) to remedy environmental damage to Crown land;
(iii) for expenses directly or indirectly related to the purposes in subparagraph (i) or (ii);
(iv) to defray the costs of investigating contraventions of the Forest Act, the Range Act, the Forest and Range Practices Act, the Wildfire Act, the Forest Practices Code of British Columbia Act or a prescribed Act, or the regulations and standards made under those Acts;
(v) to defray fire suppression costs relating to contraventions of the Forest Practices Code of British Columbia Act or the regulations or standards made under that Act if a penalty has been levied under that Act in respect of the contravention;
(vi) to defray fire control costs relating to contraventions of the Wildfire Act or the regulations under that Act, if a penalty has been levied under that Act in respect of the contravention, and
(c) the Small Scale Salvage Sub-account
(i) for a purpose related to the establishment of a free growing stand under the Forest and Range Practices Act, in respect of agreements under the Forest Act for which the rate of stumpage imposed includes a portion for small scale salvage costs,
(ii) for expenses directly or indirectly related to that purpose, and
(iii) to defray costs of administration and development in respect of the agreements referred to in subparagraph (i).
(2.1) The amount expended under subsection (2) (b) (v) and (vi) must not exceed the amount in the Environmental Remediation Sub-account that is attributable to penalties levied under
(a) the Forest Practices Code of British Columbia Act and earnings calculated and attributable to those penalties, in respect of the contraventions referred to in subsection (2) (b) (v), and
(b) the Wildfire Act and earnings calculated and attributable to those penalties, in respect of the contraventions referred to in subsection (2) (b) (vi).
(3) Amounts received as contributions to the Forest Stand Management Fund, other than amounts referred to in subsection (1),
(a) under an appropriation,
(b) from the government of Canada, municipalities, the forest industry, forest sector unions and others, and
(c) under the levy imposed under section 1 of the Forest Stand Management Fund Act,
must be paid into the Forest Stand Management Fund special account and those amounts and the earnings calculated and attributable to those amounts form a sub-account called the Forest and Range Sub-account.
(4) Despite section 21 (3) of the Financial Administration Act, the minister responsible for the administration of the Ministry of Forests and Range Act may expend amounts out of the Forest and Range Sub-account for a purpose related to
(a) the management and enhancement of forests, forest lands and range lands, and
(b) employment and training opportunities related to paragraph (a).
8 (1) The Minister of Finance may pay, in amounts he or she considers necessary or advisable, any interest calculated on and attributable to the balance in the account with the purpose of furthering and encouraging the physical fitness of residents of British Columbia and their participation in amateur sports.
(2) The balance of the Physical Fitness and Amateur Sports Fund special account is increased by
(a) $5.5 million effective on a day before April 1, 2002, as determined by Treasury Board, and
(b) an additional $5.5 million effective on April 1, 2002 and effective each subsequent April 1, up to and including April 1, 2004.
9 (1) In this section:
"Arts Council" means the British Columbia Arts Council continued under the Arts Council Act;
"works of art" includes visual, media, literary and performing arts.
(2) The BC Arts and Culture Endowment special account is established consisting of the Arts Legacy Fund Sub-account continued under subsection (3) and the BC150 Cultural Fund Sub-account established under subsection (4).
(3) The Olympic Arts Fund special account is continued as the Arts Legacy Fund Sub-account consisting of the following:
(a) the $20 million in the Olympic Arts Fund special account on the day before this subsection comes into force, excluding amounts attributed as interest;
(b) interest attributed to the Olympic Arts Fund special account and not paid out before this subsection comes into force;
(c) interest calculated on and attributable to the balance in the Arts Legacy Fund Sub-account.
(4) The BC150 Cultural Fund Sub-account is established consisting of the following:
(a) $150 million that the minister transfers from a vote, as defined in the Financial Administration Act;
(b) all earnings of the sub-account, net of any associated investment fees and expenses;
(c) money accepted by the minister under subsection (6) and money from the disposition of securities or other property accepted by the minister under that subsection.
(5) Despite section 21 (3) of the Financial Administration Act, the minister may pay out of the BC Arts and Culture Endowment special account as follows:
(a) from the Arts Legacy Fund Sub-account, amounts referred to in subsection (3) (b) and (c) of this section to support the creation, development or presentation of works of art at events or venues the minister considers will provide significant exposure of those works of art;
(b) from the BC150 Cultural Fund Sub-account, amounts referred to in subsection (4) (b) of this section on the recommendation and for the purposes of the Arts Council.
(6) The minister, on behalf of the government, may accept money, securities or other prescribed property as contributions to the BC150 Cultural Fund.
(7) The minister may dispose of securities or other property accepted under subsection (6).
9.1 (1) A special account to be known as the "Provincial Home Acquisition Wind Up special account" is established.
(2) The special account established under subsection (1) consists of an initial balance of $15 million.
(3) Despite section 21 (3) of the Financial Administration Act, the Minister of Finance may pay out of the special account established under subsection (1) funds for the purpose of
(a) the administration of transactions and contracts entered into under the Home Conversion and Leasehold Loan Act, the Home Mortgage Assistance Program Act, the Home Purchase Assistance Act, the Homeowner Interest Assistance Act and the Provincial Home Acquisition Act before the repeal of those Acts and for other related payments, and
(b) payments necessary or advisable for the wind up of the programs under those Acts.
(4) If the Minister of Finance determines that a part of the balance of the special account established under subsection (1) is no longer necessary to carry out the purposes of the special account, the Minister of Finance may reduce the balance in the special account by that part.
9.2 (1) In this section:
"contract of insurance" has the same meaning as in the Continuous Crop Insurance Regulation, B.C. Reg. 546/95;
"minister" means the minister;
"special account" means the Production Insurance Account established under subsection (2).
(2) A special account to be known as the Production Insurance Account is established.
(3) The special account consists of the following:
(a) an opening balance, being the closing balance in the Crop Insurance Fund within the meaning of the Continuous Crop Insurance Regulation, B.C. Reg. 546/95, on March 31, 2005;
(b) all premiums and other income received by the government under a contract of insurance;
(c) all premiums received by the government from the government of Canada under an agreement made under section 1 of the Insurance for Crops Act;
(d) all indemnities payable by, and received by the government from, reinsurers of contracts of insurance;
(e) any money payable by the government for premiums that is transferred from a vote, as defined in the Financial Administration Act;
(f) any interest credited to the special account under subsection (5).
(4) Despite section 21 (3) of the Financial Administration Act, the minister may pay money out of the special account for any of the following purposes:
(a) indemnities and other amounts payable by the government under contracts of insurance;
(b) money payable by the government to repay the government of Canada, under an agreement made under section 1 of the Insurance for Crops Act, for any money paid or advanced by the government of Canada for the payment of indemnities under contracts of insurance;
(c) transfers to the general account of the consolidated revenue fund of money to repay to the government payments or advances made by the government from the general account for the payment of indemnities under contracts of insurance;
(d) premiums payable by the government for reinsurance in relation to contracts of insurance.
(5) The government must, on 2 occasions in each fiscal year, as that term is defined in the Financial Administration Act, credit interest to the special account so that the total amount of interest credited for that year equals the interest calculated under subsection (6) of this section.
(6) Interest under subsection (5) must be calculated
(a) for each calendar month in the fiscal year,
(b) at a rate determined by the government, and
(c) on the minimum cash balance held in the special account in that month.
9.3 (1) A special account, to be known as the Housing Endowment Fund special account, is established.
(2) The special account consists of
(a) an opening balance of $250 million, effective April 1, 2007, and
(b) all earnings of the account, net of any associated investment fees and expenses, that have not been paid out under subsection (3).
(3) Despite section 21 (3) of the Financial Administration Act, the minister responsible for the administration of this section may pay out of the special account earnings of the special account, for purposes related to any of the following:
(a) innovation in the provision of affordable, social or supportive housing;
(b) innovation in housing development or management;
(c) acquisition, development or operation of affordable, social or supportive housing.
9.4 (1) A special account, to be known as the Children's Education Fund special account, is established.
(2) The special account consists of the following:
(a) an initial balance of $41 200 000, effective April 1, 2007;
(b) in 2008 and each subsequent calendar year, effective April 1 of the year, an additional amount calculated by multiplying $1 000 by the total of
(i) the estimated number of children who will be born in British Columbia in that year, and
(ii) the estimated number of children who will be adopted in British Columbia in that year who were born outside British Columbia on or after January 1, 2007;
(c) all earnings of the special account net of any associated investment fees and expenses.
(3) The estimates required for the purposes of subsection (2) (b) are to be determined by the Minister of Finance based on information provided by the director under the Statistics Act.
(4) Despite section 21 (3) of the Financial Administration Act, the minister responsible for the administration of this section may pay amounts out of the special account
(a) for the purpose of providing financial assistance in accordance with the regulations to students born on or after January 1, 2007 who are
(i) eligible in accordance with the regulations, and
(ii) enrolled in education programs that are eligible in accordance with the regulations, and
(b) to cover any investment losses of the special account.
(5) The Lieutenant Governor in Council may make regulations for the purposes of this section including, without limitation, regulations doing one or more of the following:
(a) prescribing eligibility requirements;
(b) prescribing how the amount of financial assistance for individual students is to be determined;
(c) providing for reconsiderations or appeals of decisions respecting eligibility;
(d) authorizing the collection of personal information from students applying for financial assistance, including information about third parties necessary to determine the eligibility of applicants;
(e) prescribing conditions on which amounts are paid, or authorizing the minister responsible for the administration of this section to establish conditions on which amounts are paid;
(f) establishing requirements for repayment to the government if conditions under paragraph (e) are not met, or if other prescribed circumstances apply;
(g) providing that payments from the special account are not subject to any process of garnishment, attachment, execution or seizure by a creditor.
9.5 (1) A special account, to be known as the Innovative Clean Energy Fund special account, is established.
(2) The special account consists of the following:
(a) all amounts credited to the special account before August 1, 2010;
(b) for each quarter of the fiscal year, as that term is defined in the Financial Administration Act, an amount that the Minister of Finance, by written estimate, estimates to be equal to all the revenue received during that quarter that has been derived from tax imposed under Division 11 of Part 3 of the Provincial Sales Tax Act;
(c) any other amounts received by the government for payment into the special account.
(3) Despite section 21 (3) of the Financial Administration Act, the minister charged with the administration of this section may pay money out of the special account for the following purposes:
(a) for projects, programs or initiatives that minister considers will
(i) address specific British Columbia energy issues, or related environmental issues, that have been identified by the government, and
(ii) do one or more of the following:
(A) support the development or adoption of pre-commercial clean energy technologies, or of clean energy technologies not currently used in British Columbia;
(B) reduce the environmental impact of the use, production, generation, storage, transmission, delivery, provision or conversion of energy;
(C) demonstrate or promote British Columbia clean energy technologies that have good potential for market demand in other jurisdictions;
(D) reduce the cost or improve the reliability of clean energy sources or associated technology;
(E) support energy efficiency or conservation;
(b) with the approval of the Minister of Finance, for the administration of the special account.
(4) [Repealed 2013-1-117.]
9.6 (1) In this section:
"conservancy" has the same meaning as in the Park Act;
"park" has the same meaning as in the Park Act;
"protected area" means
(a) a park, recreation area or conservancy,
(b) an area protected under the Environment and Land Use Act, the establishing order for which provides that
(i) the area is to be administered by the minister, and
(ii) section 15 of the Park Act applies in the area, or
(c) an ecological reserve established under the Ecological Reserve Act or the Protected Areas of British Columbia Act;
"protected area stumpage" means stumpage payable to the government under the Forest Act for
(a) timber described in section 15 of the Park Act, or
(b) timber from a protected area described in paragraph (b) of the definition of "protected area";
"recreation area" has the same meaning as in the Park Act.
(2) A special account, to be known as the Park Enhancement Fund special account, is established.
(3) The special account consists of the following amounts:
(a) an initial balance of $100 000;
(b) money received by the minister from the sale or other disposition under section 29.1 (1) (a) or (b) of the Park Act of maps, informational material, services or promotional or educational products;
(c) money received by the minister from the sale or other disposition under section 29.1 (1) (c) of the Park Act of advertising space;
(d) subject to subsection (5) of this section, money accepted by the minister under section 27 of the Park Act or money from the disposition of gifts or bequests, other than land, accepted by the minister under that section;
(e) money received by the minister under agreements authorized under subsection (6) of this section;
(f) protected area stumpage;
(g) interest calculated on and attributable to the balance in the special account.
(4) Despite section 21 (3) of the Financial Administration Act, the minister may pay amounts out of the special account for any of the following in respect of protected areas:
(a) informational, educational and interpretive programs delivered within or outside protected areas;
(b) natural and cultural resource assessment, research and restoration;
(c) construction, repair and maintenance supporting conservation or recreational, cultural or heritage values of protected areas;
(d) volunteer program support;
(e) regional multi-jurisdictional planning or planning projects related to conservation or recreational management of protected areas;
(f) development, production or acquisition of maps, informational material, services or promotional or educational products referred to in section 29.1 of the Park Act;
(g) payments required to be made by the minister under agreements authorized under subsection (6) of this section.
(5) Subsection (3) (d) does not apply to a gift or bequest, or proceeds from the disposition of a gift or bequest,
(a) that cannot be paid out under subsection (4) consistently with the terms of the gift or bequest,
(b) that is accepted by the minister subject to a trust, or
(c) except with the prior approval of the chair of the Treasury Board, that is from a corporation or organization within the government reporting entity as defined in the Budget Transparency and Accountability Act.
(6) Without limiting section 4.1 of the Park Act, the minister may enter into agreements with any person to raise money for the special account
(a) if the subject matter or purpose of the agreement is a matter or purpose referred to in subsection (4) (a) to (f), or
(b) authorizing the transfer or use of a copyright or other intellectual property owned by or licensed to the government in
(i) images or audio records of protected areas, or
(ii) property developed or acquired by the government for promotional, informational or educational purposes in respect of protected areas.
10 (1) The Lieutenant Governor in Council may make regulations referred to in section 41 of the Interpretation Act.
(2) Without limiting subsection (1), the Lieutenant Governor in Council may make regulations as follows:
(a) [Repealed 2012-10-16.]
(b) [Repealed 2012-10-16.]
(c) prescribing property for the purpose of section 9 (6) [contributions to BC150 Cultural Fund];
(d) prescribing Acts for the purpose of section 5 (2) (b) (iv) [Environmental Remediation Sub-account expenditures].
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