Exemption Regulation No. 2 (B.C. Reg. 329/2000).

The present Regulation enacts the Columbia Basin Trust Act. The Regulation lays down provisions relating to exemption of taxes for land and improvements. In particular, section 1 establishes that lands and improvements are exempt from all taxes described under section 31 (3) of the Columbia Basin Trust Act for the 2001 and subsequent taxation years if included in a facility constructed in whole or in part by or on behalf of: a) Columbia Power Corporation, and b) CBT Arrow Lakes Power Development Corp oration. The text consists of 2 sections.