New Strategic Investments Fund

Summary#

This bill sets up a new British Columbia Strategic Investments special account to support key projects in the province. It starts with $400 million and can give grants, loans, equity investments, and loan guarantees to “eligible recipients” for “strategic investments,” which will be defined later by regulation. It also lets the government treat some earlier agreements (dating back to 2018) as if they were made under this program, and allows certain regulations to apply back to April 1, 2026.

• Creates a special account with an initial $400 million to back strategic projects in B.C.
• Money can be given as grants, loans, equity stakes, or loan guarantees, with Treasury Board approval.
• Who can apply and what counts as a “strategic investment” will be set by future regulations.
• The minister can charge fees for providing funding or guarantees.
• Sets a future cap (by regulation) on the total amount of loan guarantees outstanding.
• Allows the province to recognize some past deals (2018–2026) as strategic investments and to make certain rules retroactive to April 1, 2026.

What it means for you#

• Businesses and organizations

  • May be able to apply for grants, loans, or guarantees for projects the province deems “strategic.”
  • Loan guarantees could lower borrowing costs from banks.
  • You may have to pay fees linked to funding or guarantees.
  • Details on eligibility, terms, and application processes will come later by regulation.

• Workers and communities

  • Funded projects could support jobs and local economic activity.
  • Actual impact depends on which sectors and projects the government selects.

• Taxpayers

  • $400 million of public money is set aside for investments.
  • Some funds may be repaid (loans) or could earn returns (equity). Grants do not get repaid.
  • Loan guarantees create a risk of future costs if a backed borrower cannot repay.

• Local and Indigenous governments

  • You could be eligible for support if regulations allow it.
  • Potential for joint projects if designated as “strategic,” but specifics are not yet set.

• Transparency and oversight

  • Treasury Board must approve spending and guarantees.
  • Reporting requirements will be set by regulation, so the level of public reporting is not yet defined.
  • Some past agreements (since 2018) can be officially folded into this program.

Expenses#

Estimated initial set‑aside: about $400 million.

• The account starts with $400 million. More money can be added later from other sources, including federal funds.
• Administrative costs for running the program will be paid from the account.
• Loans and equity may bring money back to government; grants do not.
• Guarantees do not cost money up front but create a potential future cost if called. The overall cap on guarantees will be set later by regulation.
• Past payments before March 31, 2026 that are designated under this bill will not change the account’s starting balance.

Proponents' View#

• Creates a flexible tool to quickly back high‑priority projects that support jobs and growth.
• Lets B.C. leverage private and federal dollars by offering loans, equity, or guarantees.
• Helps scale up strategic sectors by lowering financing barriers for major projects.
• Central approval by Treasury Board adds a check on spending and risk.
• Retroactive provisions bring older agreements under one clear framework, improving continuity.

Opponents' View#

• Very broad powers with key details left to regulation, reducing legislative oversight.
• Risk that government will “pick winners and losers,” leading to inefficient spending.
• Loan guarantees and equity stakes add hidden or hard‑to‑track financial risks for taxpayers.
• Retroactive rules and deeming past deals as “strategic” may weaken transparency and accountability.
• Program fees could disadvantage smaller applicants with tighter budgets.