PART VI SPECIAL PAYMENTS
Payments in lieu of additional municipal and school taxes
92 (1) Hydro One Inc. and each of its subsidiaries, Ontario Power Generation Inc. and each of its subsidiaries and every municipal electricity utility shall pay to the Financial Corporation in each year the difference between, (a) the amount of taxes that it would be liable to pay in the year for municipal and school purposes if the assessed value of land owned by it on which are situated generating station buildings or structures or transformer station buildings or structures were determined on the basis of the amount prescribed by the regulations for each square metre of inside ground floor area of the actual building or structure housing the generating, transforming and auxiliary equipment and machinery; and (b) the amount of taxes that it is liable to pay in the year for municipal and school purposes in respect of land owned by it on which are situated generating station buildings or structures or transformer station buildings or structures.  1998, c. 15, Sched. A, s. 92 (1); 2002, c. 1, Sched. A, s. 19 (1). Subsequent owners (1.1) If a generating station building or structure is owned by one of the persons referred to in subsection (1) on January 1, 2000 and is subsequently disposed of by that person, this section continues to apply to any subsequent owner.  2000, c. 25, s. 46 (1). Notice to Financial Corporation (2) When a notice of assessment is delivered under section 31 of the Assessment Act in respect of land described in subsection (1), the Municipal Property Assessment Corporation shall send a copy of the notice to the Financial Corporation.  1998, c. 15, Sched. A, s. 92 (2); 2001, c. 8, s. 205 (3). Payments after Part V repealed (3) After Part V is repealed under section 84.1, all payments required to be made under this section to the Financial Corporation shall instead be paid to, (a) one or more municipalities in the manner specified by the Minister of Finance, in respect of land located in a municipality; and (b) Her Majesty in right of Ontario, in respect of land located in territory without municipal organization.  2006, c. 33, Sched. Z.3, s. 9 (1); 2015, c. 38, Sched. 3, s. 5 (1). (4) Repealed: 2015, c. 38, Sched. 3, s. 5 (2). (5) Repealed:  2004, c. 31, Sched. 11, s. 2 (1). Payments under the Assessment Act and Provincial Land Tax Act, 2006 (6) The references in subsection (1) to taxes for municipal and school purposes shall be deemed to include payments under section 27 of the Assessment Act
and taxes under the Provincial Land Tax Act, 2006.  2006, c. 33, Sched. Z.3, s. 9 (2). (7) Repealed:  2001, c. 8, s. 205 (4). (8) Repealed:  2004, c. 31, Sched. 11, s. 2 (2). Non-application (9) This section, other than this subsection, does not apply to the following: 1. A hydro-electric generating station, as defined in subsection 92.1 (24), after December 31, 2000. 2. A wind turbine tower, as defined in subsection 45.4 (5) of Ontario Regulation 282/98 (General) made under the Assessment Act, after December 31, 2004.  2004, c. 31, Sched. 11, s. 2 (3). Section Amendments with date in force (d/m/y) 1999, c. 9, s. 102 - 14/12/1999 2000, c. 25, s. 46 (1)
- 04/12/2000; 2000, c. 42, s. 34
- 21/12/2000 2001, c. 8, s. 205 (3, 4) - 29/06/2001 2002, c. 1, Sched. A, s. 19 (1, 2) - 27/06/2002 2004, c. 16, Sched. D, Table - 01/01/2004; 2004, c. 31, Sched. 11, s. 2 (1-3) - 16/12/2004 2006, c. 33, Sched. Z.3, s. 9 (1, 2) - 01/01/2009 2015, c. 38, Sched. 3, s. 5 - 10/12/2015