Ontario Regulation 370/24 made under the Assessment Act Made: September 18, 2024 Filed: September 25, 2024 Published on e-Laws: September 25, 2024 Published in The Ontario Gazette: October 12, 2024 Amending O. Reg. 282/98 (GENERAL) 1. Section 2 of Ontario Regulation 282/98 is amended by adding the following paragraph: 16. The aggregate extraction property class. 2. Paragraph 3 of subsection 3 (1) of the Regulation is amended by striking out “that is not in the farm property class or the industrial property class” at the end and substituting “and that is not in the farm property class, the industrial property class or the aggregate extraction property class”. 3. (1) Paragraph 2.2 of subsection 6 (2) of the Regulation is amended by striking out “and subsequent taxation years” and substituting “to 2024 taxation years” in the portion before subparagraph i. (2) Paragraph 2.3 of subsection 6 (2) of the Regulation is amended by striking out “and subsequent taxation years” and substituting “to 2024 taxation years”. 4. The Regulation is amended by adding the following section: Aggregate Extraction Property Class 14.4 (1) For the purposes of this section, the following constitute aggregate extraction activities: 1. Extracting anything from the earth. 2. Excavating. 3. Processing extracted or excavated material. 4. Stockpiling extracted or excavated material. 5. Stockpiling overburden. (2) The aggregate extraction property class consists of the following land: 1. The portion of land that is licensed or required to be licensed under Part II of the Aggregate Resources Act and that is used to carry out aggregate extraction activities. 2. The portion of land that would be required to be licensed under Part II of the Aggregate Resources Act if the land were in a part of Ontario designated under section 5 of that Act and that is used to carry out aggregate extraction activities. 3. Roadways and structures on a portion of land that is licensed or required to be licensed under Part II of the Aggregate Resources Act if the roadway or structure is used in connection with aggregate extraction activities on a portion of land that is licensed or required to be licensed under Part II of that Act. (3) This section applies with respect to the 2025 and subsequent taxation years. Commencement 5. (1) Except as otherwise provided in this section, this Regulation comes into force on the day it is filed. (2) Section 2 comes into force on January 1, 2025. Made by: Pris par : Le ministre des Finances, Peter Bethlenfalvy Minister of Finance Date made: September 18, 2024 Pris le : 18 septembre 2024   Français