Summary

This bill extends the deadline for making capital expenditures eligible under the Saskatchewan Chemical Fertilizer Incentive program from January 1, 2027 to January 1, 2032, and sets December 31, 2034 as the final date to apply for eligibility certificates and to have certificates issued. It also moves some administrative provisions from this Act into The Income Tax Act, 2000, including documentation requirements for claiming the tax credit and recovery procedures for improperly obtained credits.

Saskatchewan offers a tax credit to companies that invest in chemical fertilizer production facilities in the province. This bill gives companies five more years (until the end of 2031 instead of 2026) to make capital investments that qualify for the program, and allows applications for eligibility certificates until the end of 2034. The bill also shifts some of the paperwork and enforcement rules out of this Act and into the province's main income tax law. Companies that have already applied under the old rules will not be affected by the changes to documentation requirements, because those changes are made retroactive to 2020 when the program started. The program itself continues to operate as before, offering a tax credit calculated under The Income Tax Act, 2000 based on eligible capital spending on fertilizer production.