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

1 Section 24 of the Transportation Act, S.B.C. 2004, c. 44, is amended by adding the following definitions:

"transit station" means a bus exchange, passenger rail station or prescribed transit facility;

"transit-oriented development" means a development, including, without limitation, a commercial, industrial, institutional, recreational or residential development, that is

(a) intended to support use of public transit, and

(b) located within the prescribed distance from a transit station.

2 Section 26 is amended in paragraph (a) by striking out "and" at the end of subparagraph (i) and by adding the following subparagraph:

(iii) transit-oriented developments, and .

3 Section 27 (3) is amended

(a) in paragraph (a) by striking out "or" at the end of subparagraph (i), by adding ", or" at the end of subparagraph (ii) and by adding the following subparagraph:

(iii) transit-oriented developments; ,

(b) in paragraph (d) by adding "subject to paragraph (d.1)," before "dispose of land", and

(c) by adding the following paragraph:

(d.1) with the approval of the Minister of Finance, dispose of land by lease for less than market rent; .

4 Section 82 (2) is amended by striking out "5th" and substituting "fifth".

5 Section 87 (2) is amended by adding the following paragraphs:

(k) prescribing a transit facility or class of transit facilities for the purposes of the definition of "transit station" in section 24;

(l) prescribing the distance from a transit station or class of transit stations for the purposes of the definition of "transit-oriented development" in section 24.

Commencement

6 This Act comes into force by regulation of the Lieutenant Governor in Council.

Explanatory Notes

CLAUSE 1: [Transportation Act, section 24] adds definitions of "transit station" and "transit-oriented development" for Part 3 of the Act.

CLAUSE 2: [Transportation Act, section 26] adds a purpose for the BC Transportation Financing Authority in relation to transit-oriented developments.

CLAUSE 3: [Transportation Act, section 27]

• adds a power for the BC Transportation Financing Authority in relation to transit-oriented developments;
• adds a power for the BC Transportation Financing Authority to dispose of land by lease for less than market rent, with the approval of the Minister of Finance.

CLAUSE 4: [Transportation Act, section 82] makes a housekeeping amendment.

CLAUSE 5: [Transportation Act, section 87]

• provides authority to prescribe a transit facility or class of transit facilities for the purposes of the definition of "transit station";
• provides authority to prescribe the distance of development projects from a transit station or class of transit stations for the purposes of the definition of "transit-oriented development".