Bill 210 (Legislature 20, Session 2)

L20 S2 3576

Alberta — Bills

1984 BILL 210 Second Session, 20th Legislature, 33 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 210 ENERGY CONSERVATION AND ENVIRONMENTAL PROTECTION TAX CREDIT ACT DR. BUCK First Reading Second Reading Committee of the Whole Third Reading Royal Assent

BiU 210 Dr. Buck BILL 210 1984 ENERGY CONSERVATION AND ENVIRONMENTAL PROTECTION TAX CREDIT ACT (Assented to , 1984) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1 The Alberta Income Tax Act is amended by this Act. 2 The following heading and

section are added after

section 10: Energy Conservation and Environmental Protection Credits 10(1) A person who resided in Alberta on the last day ofthe taxation year is entitled to a research credit for that year in accordance with this section, the regulations made under this Act, the federal Act and the federal regulations.

(2) A research credit under this

section shall be in an amount equal to 75% of the aggregate of (

a) the amount spent by the person in the Province during the taxation year on research and development in the field of energy conservation in an area that is applicable in the Province, and (

b) the amount spent by the person in the Province during the taxation year on research and development of processes or technologies for the disposal of toxic or hazardous mate-

Explanatory Notes 1 This Bill will amend

chapter A-31 of the Revised Statutes of Alberta 1980. 2 Establishes a tax credit of 75% of the cost of research and development in the fields of energy conservation or environmental protection resulting from the treatment of toxic or hazardous substances, and sets a limit of $20 000.

rials, the re-refining or re-use of such materials or the ren dering of such materials harmless or less harmful.

(3) A research credit may not exceed $20 000 for a taxation year.

(4) When a person is entitied to a credit under this

section for any taxation year and has applied for the credit in accordance with this section, the Provincial Treasurer may deduct the credit from any tax, interest or penalty otherwise owing by the company for that taxation year or for any of the 3 taxation years following it under this Act.

(5) The Lieutenant Govemor in Council may make regulations (

a) defining any expression used in this

section which is not defined therein; (

b) prescribing procedures to determine whether the research and development carried out by a person applies for a credit pursuant to this section; (

c) prescribing any additional rules regarding eligibility or ineligibility of research and development costs for credits under this section; (

d) providing for the apportionment of expense of work carried out relating to research and development that may partly relate to research and development qualifying for a credit pursuant to this section; (

e) respecting any other matter or thing necessary or advis able to carry out effectively the purposes of this section.

(6) The Provincial Treasurer may prescribe the form of returns for the purposes of this section. 3 This Act comes into force on Proclamation.

3 Coming into force. Title: 1984 (20th, 2nd) Bill 210, Energy Conservation and Environmental Protection Tax Credit Act

Document details

Collection	Alberta — Bills
Citation	L20 S2 3576
Type	bill
Volume / chapter	L20 S2 3576
Language	en
Format	json
Source	PROVINCIAL
Identifier	50084fc9378aa248a7b3a2132b6b1288bf726d55

Source file is stored in the law ingest library (json).