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S.M. 2019, c. 24

Bill 4, 1 st Session, 42nd Legislature

The Loan Act, 2019

Table of contents

(Assented to October 10, 2019)

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:



The following definitions apply in this Act.

"agency" means a corporation or agency mentioned in the Schedule or to which money may be advanced under a program mentioned in the Schedule. (« organisme »)

"government's borrowing authority" means the unused portion of the authority provided to the government under section 2, or under a similar provision of a previous Loan Act, to borrow money for purposes other than to refinance debt. (« pouvoir d'emprunt du gouvernement »)

Increase in government's borrowing authority


The authority of the government to borrow for purposes other than to refinance debt is increased by $3,201,000,000.

Borrowing authority of agency


Subject to subsection (3), an agency may borrow or raise for its purposes amounts not exceeding, in total, the amounts set out for the agency in the Schedule. This is in addition to any amounts that an agency may borrow

(a) to refinance debt; or

(b) under a statutory authority to borrow money for temporary purposes or working capital.

Manner of raising money


Amounts borrowed or raised under subsection (1) may be borrowed or raised

(a) by means of a loan from the government; or

(b) subject to subsection (3), by any other means authorized by the agency's governing legislation and approved by the Lieutenant Governor in Council.

Abatement of government's borrowing authority


An amount borrowed or raised under clause (2)(b) reduces, and must not exceed, the government's borrowing authority.

Agency guarantee abates borrowing authority


The amount of a guarantee provided by an agency reduces, and must not exceed the lesser of,

(a) the government's borrowing authority; and

(b) the agency's unused borrowing authority under subsection (1).

LG in C may authorize advances


The Lieutenant Governor in Council may authorize amounts to be advanced to agencies or for programs as set out in the Schedule.

Lapse of previous borrowing authority


Any unused authority under section 3 or 4 of The Loan Act, 2018 to borrow or advance an amount set out in a Schedule to that Act lapses except to the extent it is included in the Schedule to this Act.

Additional authority for loans and guarantees


Until changed by another Act of the Legislature, the total of the loans and guarantees that the government provides under section 63 of The Financial Administration Act in a fiscal year must not exceed $200,000,000.

Authority to borrow


An agency or other person that needs legislative authority to borrow an amount to be advanced to it by the government under section 63 of The Financial Administration Act is deemed to have that authority.

Coming into force


This Act is deemed to have come into force on April 1, 2019.



Existing Authority New or Additional Authority TOTAL
Crown Services
The Manitoba Hydro-Electric Board 1,590,724 1,555,000 3,145,724
The Manitoba Liquor and Lotteries Corporation (MLLC) 138,579 37,013 175,592
MLLC — First Nations Capital Program 3,300 3,300
Manitoba Agricultural Services Corporation 22,878 317,982 340,860
Education and Training
Manitoba Student Aid Program 47,976 36,500 84,476
Post-Secondary Institutions 4,000 4,000
The Public Schools Finance Board 35,666 281,149 316,815
The Manitoba Housing and Renewal Corporation 281,351 76,437 357,788
Leaf Rapids Town Properties Ltd. 3,875 3,875
Special Operating Agencies Financing Authority:

Vehicle and Equipment Management Agency

6,000 6,000

Materials Distribution Agency

1,500 1,500
The Idea Fund 25,000 25,000
Growth, Enterprise and Trade
Business Support 75,000 75,000
Communities Economic Development Fund 2,950 13,550 16,500
Manitoba Opportunities Fund Ltd. 1,349 1,349
Manitoba Science and Technology Fund 642 642
Health, Seniors and Active Living
Shared Health Inc. 12,068 12,068
Health Capital Program 176,460 109,328 285,788
Indigenous and Northern Relations
Northern Affairs Communities 10,328 10,328
Special Operating Agencies Financing Authority:

Vital Statistics Agency

250 50 300
Municipal Relations
The Manitoba Water Services Board 92,560 92,560
Sustainable Development
Cottage Lots Program 691 691
2,500,647 2,459,509 4,960,156