Bill BILL 15 FISCAL RESPONSIBILITY AMENDMENT ACT, 2004 ( A s s e n t e d t o , 2 0 0 4 ) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: Amends RSA cF-15 The Fiscal Responsibility Act is amended by this Act. 2

Section 1(k.1)(

i) is amended by striking out “$3 500 000 000” and substituting “$4 000 000 000”. 3

Section 2(2)(a)(

i) is amended by striking out “required to pay” and substituting “paid or payable for”. 4

Section 2.1(2) is amended (

a) by repealing clause (d)(

i) an d substituting the following: (

i) actual non-renewable resource revenue exceeds non-renewable resource revenue for fiscal policy purposes, and (

b) in clause (d)(ii) by adding “and any increase in revenue that funds an expense referred to in

section 4(2)(b)” before “is less than”; (

c) in clause (

d) by adding “, not exceeding the difference referred to in subclause (i),” after “referred to in subclause (ii)”; (

d) in clause (

e) by striking out “funds required to pay” and substituting “amounts paid or payable for”; (

e) by adding the following after clause (f): (

g) subject to subsection (3), amounts paid or payable for the cost of a settlement with a First Nation may, with approval of the Lieutenant Governor in Council, be allocated from the Alberta Sustainability Fund. 5 This Act applies for 2004-2005 and subsequent fiscal years. Explanatory Notes Amends

chapter F-15 of the Revised Statutes of Alberta 2000. 2

Section 1(k.1) presently reads: 1 In this Act, (k.1) “non-renewable resour ce revenue for fiscal policy purposes” in respect of a fiscal year means the lesser of (i) $3 500 000 000, and (ii) the average of the following: (

A) the forecast non-renewable resource revenue for the previous fiscal year, and (

B) the actual non-renewable resource revenue for each of the fiscal years preceding the fiscal year referred to in paragraph (A); 3

Section 2(2) presently reads in part:

(2) For the purposes of subsection (1), (

a) actual expense does not include (

i) any amounts required to pay the cost of a public emergency or disaster declared by the Lieutenant Governor in Council, 4

Section 2.1(2) presently reads in part:

(2) Within the General Revenue Fund amounts may be allocated to and from the Alberta Sustainability Fund as follows: (

d) subject to subsection (3), if for a fiscal year (

i) actual revenue equals or exceeds revenue for fiscal policy purposes, and (ii) actual revenue excluding actual non- renewable resource revenue is less than revenue for fiscal policy purposes excluding non-renewable resource revenue for fiscal policy purposes, the difference referred to in subclause (ii) may be allocated from the Alberta Sustainability Fund; (

e) subject to subsection (3 ), funds required to pay the cost of a public emergency or disaster declared by the Lieutenant Governor in Council may be allocated from the Alberta Sustainability Fund; 5 Application of Act. Title: 2004 (25th, 4th) Bill 15, Fiscal Responsibility Amendment Act, 2004