Finance committee  I can find the numbers that were in the budget, which would be the number in the 2023 budget that reflects the amendments in Bill C-59, and then there was the subsequent exemption on gains realized on the sale of an employee ownership trust, which was announced in budget 2024, so that has a separate costing.

Finance committee  Yes, that's generally right. There are a few exceptions to the EIFEL rule. There is one for a Canadian-controlled private company that has less than $50 million of taxable capital employed in Canada, so that would exempt most small and medium-sized Canadian controlled private corporations.

Finance committee  We don't expect there to be any material impact on costs, and that's not based on economic analysis per se. It's based on the scope of the rules and the exemptions that are available under the rules.

Finance committee  If the question is whether clause 4 relates to the investment tax credits, it does have some relationship with the investment tax credits. It's consequential amendments related to the investment tax credits. In terms of the other question, I don't know if Max has an answer for that.

Finance committee  First, Bill C-59 includes two investment tax credits. These are the investment tax credit for carbon capture and the investment tax credit for clean technology. There have been subsequent enhancements announced—not on the carbon capture tax credit, but on the clean technology tax credit—that are not in the bill.

Finance committee  Yes, the department has been consulting with stakeholders. This is a request that has come from stakeholders. It's difficult to estimate how many businesses will be able to sell to an employee ownership trust and take advantage of these rules. If you just give me a second, I think I may have an estimate in my notes—I just need to find it.

Finance committee  I can repeat that. It includes class 56 vehicles, but there are some conditions on that. We can return in writing with the details.

Finance committee  I can answer the question. To make sure my answer is clear, I'm going to answer in my first language. The definition is set out in the legislation. It requires that you have a project that is owned by a public authority. The interest paid has to be borne by the public authority.

Finance committee  Yes, we certainly considered that and consulted extensively with stakeholders. There is no grandfathering in the legislation. That's a policy decision. The rules were announced first in budget 2021, so people have had a significant amount of time to plan and react to the rules.

Finance committee  I think it includes Class 56 vehicles, but certain conditions apply. I think it would be better to provide you with a written answer later.

Finance committee  I can see what we have.

Finance committee  I can say that we've consulted extensively with stakeholders in order to understand the implications of the legislation on specific stakeholders. There are a number of exceptions in the legislation that are intended to deal with more general situations, so we don't have sector-specific exemptions, but we do have an exemption for public-private partnerships that may be relevant in the situation that you're describing.

Finance committee  Thank you, Mr. Chair. I'm Lindsay Gwyer, director general, legislation, at the Department of Finance. I'm here to talk about part 1. A number of my colleagues are also here to answer questions on part 1. Part 1 contains the income tax measures in the bill. There are about 20 measures, so I won't be able to describe them all, but I'll just do a very high-level summary of several of the key ones.

Finance committee  I think that could be an option. That's not what is being done here.

Finance committee  The cost is $11 million over six years.