Bill 256 — Second Session, 21St Legislature, 36 Elizabeth Ii the Legislative Assembly of Alberta Bill 256 An Act To Amend the Financial Administration Act (Legislature 21, Session 2)

L21 S2 3147

Alberta — Bills

1987 BILL Second Session, 21st Legislature, 36 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL

AN ACT TO AMEND THE FINANCIAL ADMINISTRATION ACT MR. MITCHELL First Reading Second Reading Committee of the Whole Third Reading Royal Assent Bill Mr. Mitchell BILL

AN ACT TO AMEND THE FINANCIAL ADMINISTRATION ACT (Assented to , 1987) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1 The Financial Administration Act is amended by this Act. 2

Section is amended by adding the following after subsection (2):

(3) The estimated amount of any reduction in personal or corporate tax revenue as a result of exemptions, deductions, credits, exclusions, preferential rates or deferrals provided for by any enactment shall be shown as an estimate of expenditure and included in a supply vote. 3

Section is amended by adding the following after subsection (2):

(3) The public accounts shall record any amounts of reduction in personal or corporate income tax revenue by way of exemption, deduction, credit, exclusion, preferential rate or defertal as an expenditure of public money. 4 This Act comes into force on April 1, 1988. Explanatory Notes This Bill will amend

chapter F-9 of the Revised Statutes of Alberta 1980. 2 New subsection will require "tax expenditures" to be budgeted and approved as supply votes of expenditure. 3 New subsection will require the public accounts to show tax expenditures as normal expenditures of public money. 4 Coming into force. Title: 1987 (21st, 2nd) Bill 256,

An Act to Amend the Financial Administration Act

Document details

Collection	Alberta — Bills
Citation	L21 S2 3147
Type	bill
Volume / chapter	L21 S2 3147
Language	en
Format	json
Source	PROVINCIAL
Identifier	727da641323421d1a8feb8da020d0c1a3845e59e

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