🍁 civid v1

Status

• The supplied stage label says first reading, but the reproduced text also identifies the measure as Statutes of Canada 2026, chapter 18, assented to on June 18, 2026.

Purpose and scope

• Establishes Build Canada Homes as a Crown corporation to promote, support and develop affordable housing supply and promote innovative, efficient housing construction techniques.
• It could affect housing developers and other businesses, governments, Crown corporations, property holders, and the existing Build Canada Homes special operating agency.

Governance and powers

• The corporation has a chairperson and eight to ten other directors. The Governor in Council appoints the chairperson and CEO; the minister appoints the other directors with its approval.
• Build Canada Homes may provide financial assistance, invest or lend, develop land and construct housing, acquire or dispose of property, charge fees, collect and share housing data, and cooperate with governments and other entities.
• It may guarantee loans only with the finance minister’s approval. Certain subsidiary transactions require ministerial approval or a government directive.
• Regulations may set requirements for how the corporation exercises its powers.

Funding and borrowing

• The finance minister may pay up to $11.5 billion from the Consolidated Revenue Fund for the corporation’s operations and activities, unless another amount is specified by an Act of Parliament. This is an authorization, not a requirement to spend the full amount.
• The finance minister may lend money to the corporation. Borrowing from other sources is limited to $400 million outstanding, unless the Governor in Council sets another amount.
• A separate provision authorizes up to $1.515 billion in combined payments for capital or shares in Canada Lands Company Limited and funding for designated entities carrying out activities related to Build Canada Homes’ purpose. That provision is to be repealed on a day set by order.

Transfers and reorganization

• The Governor in Council may transfer property-related responsibilities and obligations of Canada Lands Company Limited or its wholly owned subsidiaries to Build Canada Homes.
• It may direct Build Canada Homes, Canada Lands Company Limited and their wholly owned subsidiaries to undertake specified restructuring measures. Directors must comply. The Act restricts certain legal proceedings against the Crown and related persons arising from actions under such directives.
• The government may also transfer the existing Build Canada Homes special operating agency’s property, rights, obligations and liabilities to the corporation. Its current CEO continues for the remainder of their term.

Changes to existing law and review

• Adds Build Canada Homes to Schedule III of the Financial Administration Act. It also disapplies specified provisions of that Act in certain circumstances, including some property transactions and reorganization measures; this Act prevails over inconsistent provisions of Part X.
• Coordinates funding provisions with Bill C-15, including deductions for certain amounts already paid under that bill where applicable.
• The minister must arrange a review five years after the review provision comes into force, and every ten years thereafter. A report must be tabled in both Houses within one year after each review is undertaken.

Coming into force

• Except for the coordinating-amendment section, provisions come into force on dates set by the Governor in Council; different provisions may have different dates.