Bill 68 (Legislature 18, Session 3)

L18 S3 5770

Alberta — Bills

1977 BILL Third Session, 18th Legislature, 26 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL THE ALBERTA HERITAGE SAVINGS TRUST FUND SPECIAL APPROPRIATION ACT, 1977-78 THE PROVINCIAL TREASURER First Reading ............. -r ..... ,. ; ... , '.' •.•..••...•••........ Second Reading .......................................... . Third Reading ........................................... . Printed by the Queen's Printer for the Province of Alberta, EDMONTON Bill BILL THE ALBERTA HERITAGE SAVINGS TRUST FUND SPECIAL APPROPRIATION ACT, 1977-78 (Assented to , 1977) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1

(1) The Provincial Treasurer is authorized to transfer 30% of the non-renewable resource revenue received in the 1977-78 fiscal year from the General Revenue Fund to the Alberta Heritage Savings Trust Fund.

(2) In subsection (I) "non-renewable resource revenue" has the meaning given to it in The Alberta Heritage Savings Trust Fund Act. 2 As soon as practicable after the commencement of this Act there shall be transferred from the General Revenue Fund to the Alberta Heritage Savings Trust Fund $9 000 000. 3 This Act comes into force on the day upon which it is assented to. 1 Explanatory Notes This Bill when enacted will be the "Special Act" for the 1977-78 fiscal year contemplated by

section 5 (l Hb) of The Alberta Heritage Savings Trust Fund Act which reads: 5 (

I) A.lter the commencement o.fthis Act. (b) 30 per cent o.f the non-renewable resource revenue received in the 1977-78 .liscal year shall be trans.lerred ./i"om the General Revenue Fund to the Trust Fund in accordance with this Act but only if the trans,!er is authorized by a Special Act enacted in that./iscal year, 2 Transfer of $9 as compensation for loss of income arising from the fact that the non-renewable resource income for the months of April to October, 1977 could not be transferred prior to the enactment of this Bill.

If this Bill had been enacted before April 30, 1977, the non-renewable resource revenue for April, 1977 and succeed ing months in the 1977-78 fiscal year would have been transferred monthly in accordance with section 5 (4) of The Alberta Heritage Savings Trust Fund Act which reads:

(4) The Provincial Treasurer shall. with respect to each month in (

a) the 1976-77.1iscal year. and (

b) each succeeding ,fiscal year in respect o.f which a Special Act is enacted. trans.ler 30 per cent of the non-renewable resource revenue received in the month ./i"om the General Revenue' Fund to the Trust Fund as soon as practicable after the end o.f the month in which it is received. 1 Title: 1977 (18th, 3rd) Bill 68, The Alberta Heritage Savings Trust Fund Special Appropriation Act, 1977-78

Document details

Collection	Alberta — Bills
Citation	L18 S3 5770
Type	bill
Volume / chapter	L18 S3 5770
Language	en
Format	json
Source	PROVINCIAL
Identifier	5981a3e8d6fb77fba36e9011df8f255be0d6dbd5

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