Bill 5 (Legislature 29, Session 4)

L29 S4 11739

Alberta — Bills

2018 Bill 5 Fourth Session, 29th Legislature, 67 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 5

AN ACT TO STRENGTHEN FINANCIAL SECURITY FOR PERSONS WITH DISABILITIES THE MINISTER OF COMMUNITY AND SOCIAL SERVICES First Reading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Second Reading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Committee of the Whole . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Third Reading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Royal Assent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1 Bill 5 BILL 5 2018

AN ACT TO STRENGTHEN FINANCIAL SECURITY FOR PERSONS WITH DISABILITIES ( A s s e n t e d t o , 2 0 1 8 ) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: Amends SA 2006 cA-45.1 1(1) The Assured Income for the Severely Handicapped Act is amended by this section.

(2) The following is added after

section 3: Exempt assets 3.1 For the purposes of

section 3(3)(d), the value of all assets of a person and the person’s cohabiting partner must not include (

a) the value of any assets that are held in a trust in which the person or the person’s cohabiting partner has a beneficial interest, or (

b) money received where that money is (

i) not income as determ ined in accordance with the regulations, and (ii) invested within 365 days from the date of receipt of the money in an asset designated in the regulations for the purposes of this section.

(3) The following is added after

section 12(1)(d): (d.1) designating assets for the purposes of

section 3.1(b)(ii);

1 Explanatory Notes Explanatory Notes 1(1) Amends

chapter A-45.1 of the Statutes of Alberta, 2006.

(2) Exempt assets.

(3) Section 12 presently reads in part:

2 Amends AR 91/2007 2(1) The Assured Income for the Severely Handicapped General Regulation (AR 91/2007) is amended by this section.

(2) Schedule 2 is amended (

a) by repealing

section 1(4); (

b) by repealing

section 2(2)(f); (

c) by adding the following after

section 2: Designated assets 3 The following assets are designated for the purpose of

section 3.1(b)(ii) of the Act: (

a) a trust of which a person is a beneficiary; (

b) assets described in

section 2(2)(

a) to (e). Process for amendment or repeal 3

Section 3 of

Schedule 2 of the Assured Income for the Severely Handicapped General Regulation (AR 91/2007) may be amended or repealed in the same way as provided for in the Assured Income for the Severely Handicapped Act as if it had been made and adopted under

section 12 of that Act.

2 Explanatory Notes 12(1) The Lieutenant Governor in Council may make regulations (

d) respecting the determination of the assets of an applicant or client and his or her cohabiting partner and the value of those assets; 2(1) Amends AR 91/2007.

(2) Schedule 2 presently reads in part: 1(4) A trust of which a person is a beneficiary may be deemed by a director to be an asset of that person. 2(2) The following are not included in a determination of assets: (

a) one principal residence; (

b) one vehicle and one vehicle adapted to accommodate the handicap of the applicant or client or his or her cohabiting partner or dependent child; (

c) a locked-in retirement account; (c.1) a registered disability savings plan under

section 146.4 of the Income Tax Act (Canada); (

d) clothing and reasonable household items; (

e) a prepaid funeral; (

f) proceeds of sale from or an insurance settlement for an asset described in clause (

a) or (

b) reinvested in an asset described in clauses (

a) to (

e) within (i) 90 days, or (ii) if a purchase is commenced within 90 days of the sale and the director consents, 180 days; 3 Process for amendment or repeal.

3 Application 4 This Act applies on and after April 1, 2018.

3 Explanatory Notes 4 Application.

RECORD OF DEBATE Stage Date Member From To Questions and Comments From To Stage Date Member From To Questions and Comments From To Stage Date Member From To Questions and Comments From To Stage Date Member From To Questions and Comments From To Title: 2018 (29th, 4th)

An Act to Strengthen Financial Security for Persons with Disabilities

Document details

Collection	Alberta — Bills
Citation	L29 S4 11739
Type	bill
Volume / chapter	L29 S4 11739
Language	en
Format	json
Source	PROVINCIAL
Identifier	8b5029d4a385c79fbcda190bee26b815503de846

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