The City of Toronto has released details of its new approach to regulating ride-sharing companies, such as Uber. Under the proposal "private transportation companies" (like Uber) would be allowed to operate legally under a new bylaw, while the rules for the city's existing taxis would also be loosened. Some of the key features of Toronto's approach for taxis include:

• Taxis will continue to charge city-regulated rates when a cab is hailed from the street, while rides booked either by phone or online can be discounted
• The $70/per hour minimum for limousines will be removed
• The number of accessible taxis will be increased 25% by issues 1,000 licenses
• Application, renewal, and training fees for accessible taxis will be waived
• Minimum owner-operator hours will be eliminated for all licence types
• Ownership restrictions that have prevented incorporation will be eliminated
• An application and renewal fee of $290
• 17% reduction of the renewal and training fee
• City-run taxi and limousine training will be eliminated

For private transportation companies:

• Any four-door vehicle less than seven model years old can be licensed
• All drivers must be screened to city-established standards (including criminal background and driver's record checks)
• Drivers to not need to be licensed by the city, but must meet the same criminal background and driver screening requirements-records will be subject to audits by the City
• Must hold $2 million insurance coverage

For more: Backgrounder: Toronto's Ground Transportation Industry Review  Staff Report: A New Vehicle-for-Hire Bylaw to Regulate Toronto's Ground Transportation Industry  Presentation: New Vehicle-for-Hire Bylaw Regulating Toronto's Ground Transportation Industry