Build Canada Homes Act (S.C. 2026, c. 18)

RECOMMENDATION

Her Excellency the Governor General recommends to the House of Commons the appropriation of public revenue under the circumstances, in the manner and for the purposes set out in a measure entitled “An Act respecting the establishment of Build Canada Homes”.

Short Title

Marginal note:Short title

1 This Act may be cited as the Build Canada Homes Act.

Definitions

Marginal note:Definitions

2 The following definitions apply in this Act.

appropriate Minister

appropriate Minister means the Minister specified as the appropriate Minister in respect of Canada Lands Company Limited for the purposes of Part X of the Financial Administration Act. (ministre de tutelle)

Board

Board means the board of directors established by section 7. (conseil)

Chairperson

Chairperson means the Chairperson appointed under section 8. (président)

Chief Executive Officer

Chief Executive Officer means the Chief Executive Officer appointed under section 11. (premier dirigeant)

Corporation

Corporation means Build Canada Homes, the corporation established by subsection 5(1). (Société)

director

director means a director appointed under subsection 10(1). (administrateur)

Minister

Minister means the member of the King’s Privy Council for Canada who is designated as the Minister under section 3. (ministre)

parent Crown corporation

parent Crown corporation has the same meaning as in subsection 83(1) of the Financial Administration Act. (société d’État mère)

person

person includes a trust, a partnership, a joint venture and an association of natural persons or corporations. (personne)

wholly-owned subsidiary

wholly-owned subsidiary has the same meaning as in section 83(1) of the Financial Administration Act. (filiale à cent pour cent)

Designation of Minister

Marginal note:Designation of Minister

3 The Governor in Council may, by order, designate a member of the King’s Privy Council for Canada to be the Minister for the purposes of this Act.

Purpose

Marginal note:Purpose

4 The purpose of the Corporation is to promote, support and develop the supply of affordable housing in Canada and to promote innovative and efficient building techniques in the housing construction sector in Canada.

Establishment of Build Canada Homes

Marginal note:Establishment

• 5 (1) A corporation is established to be known as Build Canada Homes.

• Marginal note:Head office

  (2) The head office of the Corporation is to be at a place in Canada that is designated by the Governor in Council.

• Marginal note:Capacity

  (3) The Corporation has the capacity and, subject to this Act, the rights, powers and privileges of a natural person.

Marginal note:Agent of His Majesty

• 6 (1) The Corporation is an agent of His Majesty.

• Marginal note:Contracts

  (2) The Corporation, or any of its wholly-owned subsidiaries that is an agent of His Majesty, may enter into contracts with His Majesty as though it were not an agent of His Majesty.

• Marginal note:Order

  (3) Despite subsection (1), the Governor in Council may, by order, declare that the Corporation is not an agent of His Majesty when it is carrying out activities specified in the order.

Board of Directors and Chief Executive Officer

Marginal note:Establishment and composition

7 The Corporation has a board of directors consisting of a Chairperson and at least eight but not more than 10 other directors.

Marginal note:Appointment of Chairperson

8 The Chairperson is to be appointed by the Governor in Council to hold office during pleasure for any term that the Governor in Council considers appropriate.

Marginal note:Absence or incapacity — Chairperson

9 If the Chairperson is absent or incapacitated or if the office of Chairperson is vacant, the Board may designate one of the other directors to exercise the powers and perform the duties and functions of the Chairperson during the absence, incapacity or vacancy, but that director is not to be designated for a period exceeding 90 days without the approval of the Governor in Council.

Marginal note:Appointment of directors

• 10 (1) Each director of the Board, other than the Chairperson, is to be appointed by the Minister, with the approval of the Governor in Council, to hold office during pleasure for a term not exceeding four years that will ensure, as far as possible, the expiry in any one year of the terms of office of not more than one half of the directors.

• Marginal note:Continuation in office

  (2) Despite subsection (1), if a director is not appointed to take office on the expiry of the term of an incumbent director, other than the Chairperson, the incumbent director continues in the office until their successor is appointed.

Marginal note:Appointment of Chief Executive Officer

11 The Chief Executive Officer is to be appointed by the Governor in Council to hold office during pleasure for any term that the Governor in Council considers appropriate.

Marginal note:Full-time office

12 The Chief Executive Officer is to carry out the duties and functions of the office on a full-time basis.

Marginal note:Incapacity or vacancy — Chief Executive Officer

13 If the Chief Executive Officer is absent or incapacitated or if the office of chief executive officer is vacant, the board may designate any individual to exercise the powers and perform the duties and functions of the Chief Executive Officer during the absence, incapacity or vacancy, but that individual is not to be designated for a period exceeding 90 days without the approval of the Governor in Council.

Marginal note:Attendance at Board meetings

14 Subject to the by-laws of the Corporation, the Chief Executive Officer may attend meetings of the Board or any of its committees.

Marginal note:Consultations

15 The Minister must consult the Board with respect to the appointment of any individual as Chairperson or Chief Executive Officer.

Marginal note:Ineligibility for appointment

16 An individual is not eligible to be appointed, or continue in the office, as the Chief Executive Officer, the Chairperson or a director if the individual

• (a) is less than 18 years of age;

• (b) has the status of bankrupt; or

• (c) is a member of the Senate or House of Commons or a member of the legislature of a province.

Marginal note:Termination of appointment

17 The Governor in Council may terminate the appointment of, or remove or suspend, any director, including the Chairperson, and the Chief Executive Officer.

Marginal note:Remuneration

• 18 (1) The Chairperson, each of the other directors and the Chief Executive Officer are to be paid by the Corporation remuneration for their services in respect of that office.

• Marginal note:Rate of remuneration

  (2) The rate of any remuneration paid to the Chairperson, each of the other directors and the Chief Executive Officer is to be fixed by the Governor in Council.

Marginal note:Committees of Board

• 19 (1) The Board may establish any committee of the Board that it considers advisable and may determine the committee’s composition and duties and the tenure of its members.

• Marginal note:Delegation of powers

  (2) The Board may delegate powers to any of its committees to act in all matters that are not by this Act or by any by-law of the Corporation or resolution of the Board that are not specifically reserved to the Board.

Powers

Marginal note:Powers

20 To carry out its purpose, the Corporation may, among other things,

• (a) provide advice to federal ministers, departments, commissions, boards and agencies and to Crown corporations, as defined in subsection 83(1) of the Financial Administration Act, on any matter related to its purpose;

• (b) provide financial assistance to any person or entity, including any level of government in Canada;

• (c) invest in persons or entities carrying on activities in respect of the supply of affordable housing in Canada, including by acquiring their shares or securities or by making a loan or guarantee to the person or entity;

• (d) invest in ventures or enterprises, including through the acquisition and development of property, that are likely to benefit the supply of affordable housing or the adoption of innovative and efficient building techniques in Canada;

• (e) develop land and construct housing in Canada;

• (f) acquire, hold, manage, exchange, sell or otherwise dispose of or lease any property;

• (g) take any security or security interest in any property;

• (h) enter into arrangements or agreements with, and act as agent or mandatary for, any person or entity, including any level of government in Canada, for the provision of services or programs to, by, on behalf of or jointly with that person or entity, and deliver financial assistance or make investments on their behalf under the arrangement or agreement;

• (i) charge fees for services provided by the Corporation in the exercise of its powers under this Act;

• (j) collect and disseminate data, in collaboration with any level of government in Canada, in order to monitor and assess the housing sector in Canada and to better inform investment decisions in respect of that sector; and

• (k) do any other thing related to carrying out its purpose that the Governor in Council may, by order, specify.

Marginal note:Loan guarantees — limitation

21 Despite paragraph 20(c), the Corporation may provide a loan guarantee only with the Minister of Finance’s approval.

Marginal note:Subsidiaries

22 The Corporation or any of its wholly-owned subsidiaries may procure the incorporation, dissolution or amalgamation of its subsidiaries, and acquire or dispose of any shares in its subsidiaries, only with the approval of the Minister or under a directive of the Governor in Council under subsection 36(1).

Marginal note:Non-application of provision

23 Section 91 of the Financial Administration Act does not apply to or in respect of the Corporation or any of its wholly-owned subsidiaries.

Marginal note:Disposal or lease of property

24 Subsection 99(2) of the Financial Administration Act does not apply in respect of any sale or other disposal or lease of property held by the Corporation or any of its wholly-owned subsidiaries that is an agent of His Majesty.

Marginal note:Non-application of provision

25 Subsection 100(1) of the Financial Administration Act does not apply to or in respect of the Corporation or any of its wholly-owned subsidiaries that is an agent of His Majesty.

Marginal note:Cooperation

26 The Corporation may cooperate with any person or entity, including any level of government in Canada, to carry out its purpose, and for that purpose may enter into agreements and participate in any trust, partnership, joint venture or association of natural persons or corporations.

Financial Provisions

Marginal note:Capital and shares

• 27 (1) The capital of the Corporation is $100, divided into 10 shares having a par value of $10 each. The shares are to be issued to the Minister to be held on behalf of His Majesty.

• Marginal note:Registration

  (2) The shares issued to the Minister are to be registered by the Corporation in the name of the Minister.

Marginal note:Financial year

28 The financial year of the Corporation is the period of 12 months beginning on April 1 and ending on the next March 31, unless the Governor in Council directs otherwise.

Marginal note:Consolidated Revenue Fund — Corporation

29 The Minister of Finance may make payments out of the Consolidated Revenue Fund in an aggregate amount not exceeding $11.5 billion, or any other amount that is specified in an appropriation Act or any other Act of Parliament, to fund the operations and activities of the Corporation.

Marginal note:Borrowing power

• 30 (1) At the request of the Corporation, the Minister of Finance may, on the recommendation of the Minister, lend money to the Corporation out of the Consolidated Revenue Fund on any terms and conditions that the Minister of Finance may fix.

• Marginal note:Borrowing — other sources

  (2) The Corporation or any of its wholly-owned subsidiaries may, to carry out its purpose, borrow money from any other source, but the aggregate outstanding amount of all loans from such other sources at any time may not exceed $400 million or any other amount that is specified by order of the Governor in Council on the recommendation of the Minister of Finance.

• Marginal note:Loan guarantees

  (3) Any loan guarantee provided by the Corporation or any of its wholly-owned subsidiaries is not considered to be a transaction to borrow money for the purposes of subsection (2).

Miscellaneous

Marginal note:Regulations

31 The Governor in Council may make regulations to carry out the purposes and provisions of this Act, including regulations setting out requirements in respect of the exercise of the Corporation’s powers under this Act.

Marginal note:Inconsistency

32 In the event of any inconsistency between this Act and Part X of the Financial Administration Act, this Act prevails to the extent of the inconsistency.

Marginal note:Accident compensation

33 The directors, including the Chairperson, the Chief Executive Officer and the officers and employees of the Corporation are deemed to be employees for the purposes of the Government Employees Compensation Act and to be employed in the federal public administration for the purposes of any regulations made under section 9 of the Aeronautics Act.

Marginal note:Review

• 34 (1) Five years after the day on which this section comes into force, and every 10 years after that, the Minister must have a review of the provisions and operation of this Act undertaken in consultation with the Minister of Finance.

• Marginal note:Report to Parliament

  (2) Within one year after the review is undertaken, the Minister must cause a copy of a report on the review to be laid before each House of Parliament.

• Marginal note:Review of report

  (3) The report is to be reviewed by any committee of the Senate or of the House of Commons, or any joint committee, that may be designated or established for the purpose of reviewing the report.

Transfers and Reorganization

Marginal note:Transfers

35 The Governor in Council may, on the recommendation of the Minister, by order, transfer or direct to be transferred to the Corporation

• (a) the administration, management and control of any property, rights or interests held by Canada Lands Company Limited or any of its wholly-owned subsidiaries; or

• (b) any obligation incurred or assumed by Canada Lands Company Limited or any of its wholly-owned subsidiaries.