The provincial government introduced legislation Monday that it describes as pulling together "the final pieces" in its liquefied natural gas policy.

The Ministry of Finance said the guidelines, if approved, provide the final fiscal elements of the investment plan.

Under the new rules, the Income Tax Act will be amended to include a natural gas tax credit for LNG development in B.C.

The credit will be available to qualifying corporations at the start of next year, and is currently estimated to be about 3 per cent of the cost of natural gas. That means income tax could be reduced to 9 per cent from 12.

The LNG Income Tax Act – which the NDP says "created barriers for investment" – will be repealed, as will the LNG Project Agreements Act. The second act left taxpayers vulnerable to footing the bill for regulatory protections, the ministry said in a statement.

"Once complete, these steps will deliver the fiscal setting needed for LNG Canada's proposed $40-billion project in northern British Columbia - the largest private-sector investment in B.C.'s history," the statement said.

The province estimates that going ahead with the controversial Kitimat processing terminal will create 10,000 temporary construction jobs and about 1,000 permanent jobs.

It claims the project is on track to be "the cleanest of its kind in the world."

Minister Carole James praised B.C.'s climate action plan in the announcement of the new legislation, and said the province will be working with LNG Canada to ensure development and operation meets the targets outlined by the province.

When the government asked to move the bill to a second reading, the Greens voted against it, but it was supported by the Liberals.

James seemed unsurprised when asked about it afterwards, telling reporters it was clear the Green Party would oppose. She said it's up to Liberal leader Andrew Wilkinson whether his party would support it, but there are signs that they are on board.

The guidelines introduced in Victoria Monday followed months of consultation with affected communities, Indigenous groups and the LNG industry.

While the project in northwestern B.C. is expected to bring what some feel is a needed boost to the region's economy, not everyone is happy that the government is going ahead.

Earlier this year, blockades went up to keep trucks from reaching a Coastal GasLink job site. The convoy of trucks carried workers who were brought in to start construction on an LNG pipeline through Wet'suwet'en territory. 

More information on the project's economic and climate targets, announced last March, is available through the province's website.