New legislation introduced by the provincial government today would provide tax credits to LNG development projects in BC.
If the new legislation passes, it would do away with the LNG Income Tax Act and the LNG Project Agreements Act in favour of amendments to the Income Tax Act.
Under the new rules, tax credits will be granted to corporations and organizations undertaking LNG development projects in the province.
Minister of Finance Carole James says the changes would help attract LNG projects to BC, and lead to thousands of jobs.
She also says that in order to qualify, the projects would have to meet strict requirements, including but not limited to environmental protections.
