Tourism Investment Amendment Act 2025

What this bill does

This bill gives the Tourism Minister new power to change or cancel tourism investment agreements when developers ask for it. The Tourism Minister must get approval from the Finance Minister, and Parliament can still block these changes if they disagree.

If passed (voted YES)

• Tourism developers can apply to have their investment agreements modified or cancelled if circumstances change
• The Tourism Minister can approve these changes if they believe it helps Bermuda's economy or is otherwise necessary
• Parliament will review these ministerial decisions and can reject them through the "negative resolution" process

If rejected (voted NO)

• Tourism investment orders remain fixed once issued, with no formal process for developers to request changes
• The Tourism Minister cannot modify existing tourism investment agreements based on changing economic conditions
• Developers must work within their original agreement terms regardless of new circumstances

Who it affects

This primarily affects tourism developers who hold investment orders and want flexibility to modify their projects. It also impacts the Tourism and Finance Ministers by giving them new decision-making responsibilities for these agreements.