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Chapter 3 (not in force provisions only current as of April 1, 2026) FISCAL MEASURES STATUTES AMENDMENT ACT, 2026

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Note All persons making use of this consolidation are reminded that it has no legislative sanction, that amendments have been embodied for convenience of reference only. The official Statutes and Regulations should be consulted for all purposes of interpreting and applying the law. Amendments Not in Force This consolidation incorporates only those amendments in force on the current as of date shown on the cover. It does not include the following amendments:

1 FISCAL MEASURES STATUTES AMENDMENT ACT, 2026

Chapter 3 HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: Alberta Personal Income Tax Act Amends RSA 2000 cA-30 2(1) The Alberta Personal Income Tax Act is amended by this section.

(2) Section 8 is amended (

a) in subsection (1) (

i) by repealing clause (d); (ii) by repealing clause (

e) and substituting the following: Alberta caregiver credit (

e) for each person who, at any time in the year, (

i) is dependent on the ind ividual because of mental or physical infirmity, and (ii) either (

A) is a spouse or common-law partner of the individual, or (

B) has attained the age of 18 years and is a dependant of the individual, the amount determined by the formula $13 180 − E where

Section 2

Chapter 3 FISCAL MEASURES STATUTES AMENDMENT ACT, 2026 2 E is the amount, if any, by which the dependant person’s income for the year exceeds $20 956, a n d (iii) in clause (f) (

A) by striking out “because of clause (b)” and substituting “because of clause (

a) or (b)”; (

B) by striking out “clause (

d) or (e)” wherever it occurs and substituting “clause (e)”; (

C) by striking out “under clause (b)” and substituting “under clause (

a) or (b), as the case may be,”; (

b) in subsection (2) (

i) in clause (d) (

A) by striking out “clause (b)” and substituting “clause (

a) or (b)”; (

B) by striking out “clause (

d) or (e)” and substituting “clause (e)”; (ii) by repealing clause (e); (iii) in clause (

f) by striking out “clause (

d) or (e)” wherever it occurs and substituting “clause (e)”.

(3) Section 44.2 is amended (

a) in subsection (1) (

i) by striking out “For taxation years” and substituting “Subject to subsection (1.01), for taxation years”; (ii) by striking out “, (d)”; (

b) by adding the following after subsection (1):

(1.01) For the purposes of the 2027 taxation year, each of the amounts expressed in dollars in

section 8(1)(

e) is to be adjusted so that each amount to be used under the provision for the taxation year is the total of (

a) the amount expressed in d ollars in

section 8(1)(e), and (

b) the product obtained by multiplying

Section 4

Chapter 3 FISCAL MEASURES STATUTES AMENDMENT ACT, 2026 3 (

i) the amount referred to in clause (

a) b y (ii) the Alberta escalator for the taxation year.

(4) This

section comes into force on January 1, 2027. Credit Union Act Amends RSA 2000 cC-32 4(1) The Credit Union Act is amended by this section.

(9) Section 106(1) is repealed and the following is substituted: Borrowing in case of liquidity shortfall 106(1) Where a credit union fails over any calendar month to maintain at least the liquidity amount in assets in the form and amount determined by the Corporation as being prudent and set out in the standard referred to in

section 145.2(1)(a), the amount of the shortfall is an automatic borrowing by the credit union from Central and is deemed for the purposes of

section 126 to have been so borrowed for the whole of that month.

(10) The following is added after

section 145.1: Liquidity standards 145.2(1) The Corporation shall, in accordance with and subject to this section, establish standards in respect of the following: (

a) liquidity requirements for credit unions for the purposes of

section 106; (

b) the provision and management of a liquidity system for credit unions by Central.

(2) The Corporation shall submit a standard established under subsection (1) to the Minister for approval.

(3) On reviewing a standard submitted under subsection (2), the Minister shall (

a) approve the standard, (

b) reject the standard, or (

c) reject the standard with instructions setting out the changes required for the standard to be resubmitted for approval.

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Chapter 3 FISCAL MEASURES STATUTES AMENDMENT ACT, 2026 4

(4) If the Minister approves a standard under subsection (3)(a), the standard is considered to be established in accordance with this section.

(5) In the absence of the Corporation establishing a standard approved by the Minister under this section, the Minister may establish the standard.

(6) A standard established under this

section is binding on all credit unions and Central.

(7) A standard established under this

section is exempt from the Regulations Act, but the Corporation shall ensure it is published in such a form as the Corporation considers likely to make it available, generally, to persons likely to be affected by it.

(11) Section 158(1)(

b) is amended by striking out “them” and substituting “credit unions in accordance with the applicable standard established under

section 145.2”.

(20) The following is added after

section 235: Liquidity requirements — transitional 236(1) In this section, “former provisions” means (a)

section 106(1) as it read immediately before the coming into force of this section, (

b) the liquidity amount in assets established for the purposes of

section 106(1)(

a) by Central in its bylaws as they read immediately before the coming into force of this section, and (

c) section 38 of the Credit Union (Principal) Regulation (AR 249/89) as it read immediately before the coming into force of this section.

(2) Notwithstanding the coming into force of

section 4(9) of the Fiscal Measures Statutes Amendment Act, 2026, the former provisions continue to apply and are binding on all credit unions and Central for the whole of the calendar month in which the liquidity requirements standard is established under

section 145.2 unless the standard is established on the first day of the calendar month. (21) Subsections (9) to (11) and (20) come into force on Proclamation.

Section 5

Chapter 3 FISCAL MEASURES STATUTES AMENDMENT ACT, 2026 5 Employment Pension Plans Act Amends SA 2012 cE-8.1 5(1) The Employment Pension Plans Act is amended by this section.

(2) Section 1 is amended (

a) in subsection (1) by adding the following after clause (e): (e.1) “annuity” means a non-com mutable life annuity contract issued or to be issued by an insurance company that meets the requirements set out in subparagraph 60(l)(ii) of the Income Tax Act (Canada); (

b) in subsection (4)(

b) by striking out “52 consecutive weeks” and substituting “78 consecutive weeks”.

(3) Section 2(

c) is amended (

a) by striking out “connected with the participating employer” and substituting “specified individuals”; (

b) by striking out “section 8500(3) of the Income Tax Regulations (Canada)” and substituting “subsection 8515(4) of the Income Tax Regulations (Canada), (CRC, c. 945)”.

(5) Section 20(2) is amended (

a) in clause (a) (

i) by adding “subject to clause (a.1),” before “if the plan”; (ii) by striking out “reduce benefits” and substituting “reduce accrued benefits”; (iii) by striking out “reduced benefits” and substituting “reduced accrued benefits”; (

b) by adding the following after clause (a): (a.1) if the plan text document of a multi-employer plan is a negotiated cost plan, may amend the plan text document to convert, in accordance with this Act and the regulations, a defined benefit provision of the plan to a target benefit provision, which conversion may reduce accrued benefits,

Section 5

Chapter 3 FISCAL MEASURES STATUTES AMENDMENT ACT, 2026 6 (

c) in clause (

c) by striking out “reduce benefits” and substituting “reduce accrued benefits”.

(6) Section 29(1)(

c) is repealed and the following is substituted: (

c) in the case of a collectiv ely bargained multi-employer plan, 2 years have elapsed since the employee was first employed with a participating employer, and, (

i) unless subclause (ii) app lies, the employee has earned from employment with one or more participating employers, in each of 2 consecutive calendar years, not less than 35% of the Year’s Maximum Pensionable Earnings, or (ii) if the plan text document so provides, the employee has completed with one or more participating employers, in each of 2 consecutive fiscal years of the plan, not less than 350 hours of employment.

(7) Section 38(1) is amended by striking out “at the times prescribed” and substituting “at the times or in the circumstances prescribed,”.

(10) Section 72(1)(c)(

i) is amended by striking out “or 89(1)(a)(

i) or (3)” and substituting “, 89(1)(a)(

i) or (3), 100.1(1) or 124.1(1)”.

(11) The following is added after

section 100: Division 8.1 Transfer of Assets by Administrator to Purchase Annuity Transfer of assets by administrator to purchase annuity 100.1(1) Subject to this

section and the regulations, the plan text document of a pension plan that has not terminated and that contains a defined benefit provision may provide that the administrator of the plan may, to the extent that the Income Tax Act (Canada) allows, transfer assets from the portion of the plan that relates to the defined benefit provision to an insurance company to purchase an annuity in the form of a pension that is required or allowed by this Act in respect of any of the following persons: (

a) a deferred member who is entitled to a benefit under the defined benefit provision; (

b) the surviving pension partn er of a deceased member who is entitled to a benefit under the defined benefit provision and

Section 5

Chapter 3 FISCAL MEASURES STATUTES AMENDMENT ACT, 2026 7 who is not receiving a pension under the defined benefit provision; (

c) an active member who is en titled to a benefit under the defined benefit provision and has ceased accruing benefits under the defined benefit provision; (

d) a person who is receiving a pension under the defined benefit provision.

(2) If an annuity is to be purchased under subsection (1), the administrator must ensure, in accordance with the regulations, that the annuity, (

a) in respect of a person referred to in subsection (1)(a), (

b) or (c), provides the person with the same benefits as the person would have received under the defined benefit provision had the transfer not been made, and (

b) in respect of a person referred to in subsection (1)(d), provides payments to the person in the same amount and form as the pension that the person would have received under the defined benefit provision had the transfer not been made.

(3) When the administrator has complied with this

section and the regulations in respect of the purchase of an annuity, the administrator, a participating employer, a former participating employer or another person who is or was required to make contributions to the plan is discharged from liability, to the extent of the same benefits, amount and form described in subsection (2) that the annuity is replacing, to the person in respect of whose benefits the annuity has been purchased.

(13) The following is added after

section 124: Purchase of annuity on winding-up 124.1(1) Subject to sections 125(

b) and 126 and the regulations, as part of the winding-up of a pension plan, the administrator of the plan must, to the extent that the Income Tax Act (Canada) allows, transfer assets from the portion of the plan that relates to the defined benefit provision to an insurance company to purchase for each person in receipt of a pension under a defined benefit provision of the plan (

a) an annuity that provides payments to the person in the same amount and form as the pension that the person is receiving from the plan, or

Section 5

Chapter 3 FISCAL MEASURES STATUTES AMENDMENT ACT, 2026 8 (

b) in prescribed circumstan ces, an annuity described in the regulations.

(2) When the administrator has complied with this

section and the regulations in respect of the purchase of an annuity, the administrator, a participating employer, a former participating employer or another person who is or was required to make contributions to the plan is discharged from liability, to the extent of the same amount and form of the pension that the annuity is replacing, to the person in respect of whose pension the annuity has been purchased.

(15) Section 159(1) is amended (

a) in clause (

a) by striking out “connected with the participating employer within the meaning of

section 8500(3) of the Income Tax Regulations (Canada)” and substituting “specified individuals within the meaning of subsection 8515(4) of the Income Tax Regulations (Canada), (CRC, c. 945)”; (

b) by adding the follo wing after clause (l): (l.1) respecting the purchase o f annuities for the purposes of sections 100.1 and 124.1, including, without limitation, regulations (

i) respecting conditions or criteria relating to the purchase of annuities, (ii) prescribing circumstan ces and describing annuities for the purposes of

section 124.1(1)(b), (iii) respecting notices that may or must be provided, (iv) respecting comparing, v aluing or verifying benefits, annuities or funding, (

v) respecting the discharg e of persons from liability, and (vi) respecting information to be provided to the Superintendent; (16) Subsections (2), (3), (5) to (7), (10), (11), (13) and (15) come into force on Proclamation.