Bill 79 (Legislature 11, Session 3)

L11 S3 7107

Alberta — Bills

Bill No. 79 of 1950. A BILL TO AMEND THE DRAINAGE DISTRICTS ACT. NOTE. This Bill amends The Dra1>nage Districts Act, being chap ter of the Revised Statutes of Alberta, 1942. A new

section 129a is added immediately after

section 129. This new

section provides that the assessed value of each parcel of land in the drainage district shall be reduced by the net estimated benefit to the parcel for the period over which the capital cost of the drainage project is repayable. The drainage project increases the value of land. The effect of the amendment is that the increased value created by drainage is not taxable by the municipality until the capital cost of creating the drainage project is repaid. KENNETH A. McKENZIE, Acting Legislative Counsel. (This note does not fonn any part of the Bill but is offered in explanation of its provisions.) BILL No. 79 of 1950.

An Act to amend The Drainage Districts Act. (Assented to , 1950.) HIS MAJESTY, by and with the advi,ce and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The Drainage Districts Act, being

chapter of the Revised Statutes of Alberta, 1942, is hereby amended by adding immediately after

section the following new section: "l'29a. Notwithstanding the provisions of The Assess ment Act, the assessed value of each parcel of land in a drainage district -as determined by the municipality shall be reduced by the net estimated benefit to the parcel of land shown on the assessment roll of the drainage district for the period over which the capital cost of the drainage project is repayable as fixed ,by the original debenture by-law of the drainage district.". 2.

This Act shall come into force on the day upon which it is assented to and upon so coming into force shall be deemed to have been in force at all times on and after the first day of January, 1950. No. 79 THIRD SESSION ELEVENTH LEGISLATURE GEORGE VI 19-50 BILL

An Act to amend The Drainage Districts Act. Received and read the First time ....................................... . Second time ................................... . Third time HON. MR. URE. Title: 1950 (11th, 3rd) Bill 79,

An Act to amend The Drainage Districts Act

Document details

Collection	Alberta — Bills
Citation	L11 S3 7107
Type	bill
Volume / chapter	L11 S3 7107
Language	en
Format	json
Source	PROVINCIAL
Identifier	851a0c0265dd7fdf31086d4aaa58fb2bfebdfa4e

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