I'm going to preface this with, I don't like this potential legislation.
Not because I don't agree with it in principle, but because it would be a nightmare to administer.
And unless those doing the lying get jail time, they will fundraise their way out of any financial penalties. "Look as the thought police infringe on my free speech, look as they try to shut me down for spreading the truth! Help me fight the power by donating 19.99 at this links..."
If, big if, but if this is true, I would want a high bar. I'm talking Alex Jones saying the victims of Sandy Hook were paid actors level blatant lying. And don't get it wrong, that does exist. The stuff I've seen about Tumbler ridge is enough to make me sick, and I wouldn't at all mind if people knowingly spreading lies in cases like those faced some sort of repercussion.
But it would need to meet that high bar, and it would need cross party buy in, and it would need to not be a complete soup sandwich in terms of administering judgements, and I don't think that those prerequisites would be possible.