Alberta Regulation 173/2024

Alberta Indigenous Opportunities Corporation Act

AUTHORIZED PROJECTS AMENDMENT REGULATION

Filed: November 4, 2024

For information only: Made by the Minister of Indigenous Relations (M.O. 3/2024)

on October 30, 2024 pursuant to

section 2(12) of the Alberta Indigenous

Opportunities Corporation Act.

1 The Authorized Projects Regulation (AR 27/2020) is

amended by this Regulation.

Section 1.1(2) is amended by adding the following after

clause (b):

(

c) tourism.

Section 2 is amended by striking out "December 1, 2024"

and substituting "December 1, 2034".

--------------------------------

Alberta Regulation 174/2024

Police Act

POLICE GOVERNANCE (MINISTERIAL) REGULATION

Filed: November 5, 2024

For information only: Made by the Minister of Public Safety and Emergency

Services (M.O. 23/2024) on October 31, 2024 pursuant to

section 62(1) of the Police

Act.

Table of Contents

Definitions

2 Prescribed members of Provincial Police Advisory Board

3 Members of municipal policing committee

4 Members of regional policing committee

5 Joint municipal policing committees

6 Municipal policing committee instead of

regional policing committee

7 Minister appointments to policing committees

8 Reporting to Minister

9 Expiry

10 Coming into force

Definitions

1 In this Regulation,

(a) "chief elected official" means the chief elected official as

defined in

section 1(1)(

d) of the Municipal Government Act;

(b) "joint municipal policing committee" means a joint

municipal policing committee established under

section

28.03(2) of the Act;

(c) "municipal policing committee" means a municipal policing

committee established under

section 28.03(1) or 28.04(2) of

the Act;

(d) "regional policing committee" means a regional policing

committee established under

section 28.04(1) of the Act.

Prescribed members of Provincial Police Advisory Board

2 For the purpose of

section 28.01(4)(

c) of the Act, the following

persons are prescribed members of the Provincial Police Advisory

Board:

(a) 2 additional representatives from one or more First Nations;

(b) 2 representatives from the association of Rural Municipalities

of Alberta;

(c) 2 representatives from the association of Alberta

Municipalities;

(

d) one representative located in any of the 4 Royal Canadian

Mounted Police districts in Alberta who is not a member of

the Royal Canadian Mounted Police;

(

e) any additional members, so long as the total number of

members of the Provincial Police Advisory Board does not

exceed 15 members.

Members of municipal policing committee

3(1) For the purpose of

section 28.03(1) of the Act, a municipal

policing committee shall consist of not fewer than 3 members and not

more than 7 members appointed by the municipality's council.

(2) A member of a municipal policing committee shall not be a

full-time member of the municipal policing committee.

(3) The term of office of a member appointed to a municipal policing

committee is

(a) 3 years, or

(

b) a term of less than 3 years, but not less than 2 years.

(4) All members appointed to a municipal policing committee must

pass an enhanced security check.

(5) The appointment of a member to a municipal policing committee

may not be revoked by the council except for cause.

(6) If a person who is a member of a council is also appointed as a

member of a municipal policing committee, that person's appointment

to the municipal policing committee terminates on that person's

ceasing to be a member of the council.

(7) The members of a municipal policing committee shall, at the first

meeting of the committee in each year, elect from among their

members a chair and one or more vice-chairs.

(8) Subject to subsection (9), a member of a council who is also a

member of a municipal policing committee is eligible to be elected as

chair or a vice-chair of the municipal policing committee.

(9) A member who is a chief elected official is not eligible to be

elected as chair or vice-chair of the municipal policing committee.

Members of regional policing committee

4(1) For the purpose of

section 28.04(1) of the Act, a regional

policing committee shall consist of at least one representative member

from each municipality and as many other members as the relevant

councils of municipalities agree.

(2) A member of a regional policing committee shall not be a full-time

member of the regional policing committee.

(3) The term of office of a member appointed to a regional policing

committee is

(a) 3 years, or

(

b) a term of less than 3 years, but not less than 2 years.

(4) All members appointed to a regional policing committee must pass

an enhanced security check.

(5) The appointment of a member to a regional policing committee

may not be revoked by the council except for cause.

(6) If a person who is a member of a council is also appointed as a

member of a regional policing committee, that person's appointment to

the regional policing committee terminates on that person's ceasing to

be a member of the council.

(7) The members of a regional policing committee shall, at the first

meeting of the committee in each year, elect from among their

members a chair and one or more vice-chairs.

(8) Subject to subsection (9), a member of a council who is also a

member of a regional policing committee is eligible to be elected as

chair or a vice-chair of the regional policing committee.

(9) A member who is a chief elected official is not eligible to be

elected as chair or vice-chair of the regional policing committee.

Joint municipal policing committees

5(1) For the purpose of

section 28.03(2) of the Act, the Minister may

approve the councils of 2 or more municipalities establishing a joint

municipal policing committee consisting of not fewer than 3 members

and not more than 7 members appointed by the relevant councils.

(2) A member of a joint municipal policing committee shall not be a

full-time member of the joint municipal policing committee.

(3) The term of office of a member appointed to a joint municipal

policing committee is

(a) 3 years, or

(

b) a term of less than 3 years, but not less than 2 years.

(4) All members appointed to a joint municipal policing committee

must pass an enhanced security check.

(5) The appointment of a member to a joint municipal policing

committee may not be revoked by the relevant council except for

cause.

(6) If a person who is a member of a council is also appointed as a

member of a joint municipal policing committee, that person's

appointment to the joint municipal policing committee terminates on

that person's ceasing to be a member of the relevant council.

(7) The members of a joint municipal policing committee shall, at the

first meeting of the committee in each year, elect from among their

members a chair and one or more vice-chairs.

(8) Subject to subsection (9), a member of a council who is also a

member of a joint municipal policing committee is eligible to be

elected as chair or a vice-chair of the joint municipal policing

committee.

(9) A member who is a chief elected official is not eligible to be

elected as chair or vice-chair of the joint municipal policing

committee.

Municipal policing committee instead of

regional policing committee

6(1) For the purpose of

section 28.04(2) of the Act, the Minister may

approve the council of a municipality described in that

section

establishing a municipal policing committee, instead of a regional

policing committee, consisting of not fewer than 3 members and not

more than 7 members appointed by the council.

(2) Section 3(2) to (9) apply to a municipal policing committee

established under subsection (1).

Minister appointments to policing committees

7 If a municipal policing committee, joint municipal policing

committee or regional policing committee consists of

(a) 3 members, the Minister may appoint one member to the

committee,

(b) 4 to 6 members, the Minister may appoint up to 2 members

to the committee, or

(c) 7 or more members, the Minister may appoint one member

for each group of 3 members appointed to the committee,

including any remaining group that is fewer than 3 members.

Reporting to Minister

8(1) For the purpose of this section, "municipal police commission"

means a police commission established under

section 28 of the Act.

(2) All municipal police commissions shall report to the Minister any

changes to the membership of the commission within 30 days of the

change.

Expiry

9 For the purpose of ensuring that this Regulation is reviewed for

ongoing relevancy and necessity, with the option that it may be

repassed in its present form following a review, this Regulation expires

on April 1, 2030.

Coming into force

10 This Regulation comes into force on the coming into force of

sections 3(e), 16, 19, 46(

a) and 47(

b) of the Police Amendment Act,

--------------------------------

Alberta Regulation 175/2024

Alberta Investment Management Corporation Act

ALBERTA INVESTMENT MANAGEMENT CORPORATION

AMENDMENT REGULATION

Filed: November 7, 2024

For information only: Made by the Lieutenant Governor in Council (O.C. 296/2024)

on November 7, 2024 pursuant to

section 20 of the Alberta Investment Management

Corporation Act.

1 The Alberta Investment Management Corporation

Regulation (AR 225/2007) is amended by this Regulation.

Section 4 is amended by adding the following after

subsection (3):

(4) Notwithstanding subsection (1)(f), the Minister is eligible to

become a director.

(5) Subsection (4) is repealed on September 30,

Section 6 is amended by adding the following after

subsection (7):

(8) This

section does not apply during the period beginning on the

coming into force of this subsection and ending on September 30,

Alberta Regulation 176/2024

Alberta Investment Management Corporation Act

ALBERTA INVESTMENT MANAGEMENT CORPORATION ACT

REMUNERATION AMENDMENT REGULATION

Filed: November 7, 2024

For information only: Made by the Lieutenant Governor in Council (O.C. 297/2024)

on November 7, 2024 pursuant to

section 4 of the Alberta Investment Management

Corporation Act.

1 The Alberta Investment Management Corporation Act

Remuneration Regulation (AR 167/2007) is amended by this

Regulation.

Section 1(

c) is amended by striking out "4(1)(a)" and

substituting "4(1)".

3 The following is added after

section 1:

Application

1.1(1) This Regulation does not apply to a director who is

(

a) the Minister, or

(

b) the Deputy Minister of the Minister.

(2) Subsection (1)(

a) is repealed on September 30, 2025.

--------------------------------

Alberta Regulation 177/2024

Consumer Protection Act

LIFE LEASES INTEREST RATE REGULATION

Filed: November 7, 2024

For information only: Made by the Lieutenant Governor in Council (O.C. 310/2024)

on November 7, 2024 pursuant to

section 41.6 of the Consumer Protection Act.

Interest rate

1 Interest that is payable under

section 41.4(2) of the Act is simple

interest at a rate of 9% per year.

Payment of interest

2(1) Subject to subsection (2), a lease operator must pay the interest

accrued each month on any unreturned portion of the entrance fee to

the former leaseholder or the former leaseholder's agent or estate

within 5 business days of the last day of the month in which the

interest accrued.

(2) Where a lease operator fully returns the entrance fee or the balance

of the unreturned entrance fee during a month in which interest must

be paid under

section 41.4(2) of the Act, the lease operator must pay

the interest accrued in that month, if it is not paid together with the full

return of the entrance fee or the balance of the unreturned entrance fee,

to the former leaseholder or the former leaseholder's agent or estate

within 5 business days of the date the entrance fee is fully returned.

Expiry

3 For the purpose of ensuring that this Regulation is renewed for

ongoing relevancy and necessity, with the option that it may be

repassed in its present form or an amended form following a review,

this Regulation expires on October 31, 2028.

--------------------------------

Alberta Regulation 178/2024

Funeral Services Act

GENERAL (EXPIRY DATE EXTENSION)

AMENDMENT REGULATION

Filed: November 8, 2024

For information only: Made by the Minister of Service Alberta and Red Tape

Reduction (M.O. 16/2024) on October 31, 2024 pursuant to

section 27 of the Funeral

Services Act.

1 The General Regulation (AR 226/98) is amended by this

Regulation.

Section 43 is amended by striking out "November 30, 2024"

and substituting "November 30, 2028".

Alberta Regulation 179/2024

Cemeteries Act

CREMATORY (EXPIRY DATE EXTENSION)

AMENDMENT REGULATION

Filed: November 8, 2024

For information only: Made by the Minister of Service Alberta and Red Tape

Reduction (M.O. 17/2024) on October 31, 2024 pursuant to

section 65 of the

Cemeteries Act.

1 The Crematory Regulation (AR 248/98) is amended by

this Regulation.

Section 9 is amended by striking out "November 30, 2024"

and substituting "November 30, 2028".

--------------------------------

Alberta Regulation 180/2024

Investing in a Diversified Alberta Economy Act

AGRI-PROCESSING INVESTMENT TAX

CREDIT AMENDMENT REGULATION

Filed: November 15, 2024

For information only: Made by the Minister of Agriculture and Irrigation (M.O.

19/2024) on November 7, 2024 pursuant to

section 69.93 of the Investing in a

Diversified Alberta Economy Act.

1 The Agri-processing Investment Tax Credit Regulation

(AR 82/2023) is amended by this Regulation.

Section 1 is amended

(

a) in subsection (1)

(

i) in clause (

b) by striking out "between

corporations" and substituting "between persons";

(ii) by adding the following after clause (b):

(b.1) "at-risk amount" means, in respect of a limited

partner, the amount described in subsection 96(2.2)

of the federal Act;

(iii) by repealing clause (c);

(iv) by adding the following before clause (d):

(c.1) "corporate applicant" means an eligible applicant

under

section 69.2(

a) of the Act;

(

v) in clause (

d) by striking out "Income Tax Act

(Canada)" and substituting "federal Act";

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

(e.1) "partnership applicant" means an eligible applicant

under

section 69.2(

b) of the Act;

(e.2) "partnership percentage" means, in respect of a

member of a partnership, the share of the profits,

income or other compensation of the partnership as

determined in accordance with

section 4.3,

expressed as a percentage;

(

b) by adding the following after subsection (3):

(3.1) For the purposes of this Regulation, a transaction between

a person or a partnership and another person or partnership is a

non-arm's length transaction if

(

a) the persons are affiliates,

(

b) one person or partnership is a member of the other

partnership,

(

c) the transaction is between a member of a partnership

applicant and another person that is an affiliate of any

other member of the partnership applicant,

(

d) the transaction is between a member of a partnership

applicant and another person that is an affiliate of a

member of a member of the partnership applicant,

(

e) a party to the transaction is in a position to compel the

other party to enter into the transaction,

(

f) the consideration for a party to the transaction is in

whole or in part based on or related to

(

i) any other contractual or other obligation with the

other party to the transaction, or

(ii) any consideration under a contractual or other

obligation described in subclause (i),

(

g) the Minister determines that

(

i) one person or partnership has significant influence

over the other, or

(ii) the transaction is not one that would be made in an

open market between willing parties to a

transaction of that nature on competitive and

reasonable terms.

(

c) by repealing subsections (4) to (9).

Section 2 is amended

(

a) by adding the following before subsection (1):

Eligible capital expenditures

2(0.1) For the purposes of

section 69.3(

a) of the Act, to be an

eligible capital expenditure, an expenditure must be made,

(

a) where an applicant is a corporate applicant, by the

applicant, or

(

b) where an applicant is a partnership applicant, by

(

i) the applicant,

(ii) one or more members of the applicant acting on

behalf of the applicant,

(iii) one or more members of a member of the applicant

acting on behalf of the applicant or on behalf of a

member of the applicant, or

(iv) any combination of the applicant or members

referred to in subclauses (

i) to (iii).

(

b) in subsection (3)(

h) by striking out "corporation" and

substituting "applicant";

(

c) in subsection (6) by striking out "transaction between

affiliates" and substituting "non-arm's length

transaction";

(

d) in subsection (8) by striking out "corporation" and

substituting "applicant";

(

e) by repealing subsection (9) and substituting the

following:

(9) In determining the value of an eligible capital expenditure,

the Minister shall deduct the value of any federal, provincial or

municipal assistance respecting the expenditure, including a

grant, subsidy, forgivable loan, deduction from tax or investment

allowance, that is received by, is entitled to be received by or can

reasonably be expected to be received by,

(

a) where the applicant is a corporate applicant, the

applicant, and

(

b) where an applicant is a partnership applicant,

(

i) the applicant,

(ii) a member of the applicant, or

(iii) a member of a member of the applicant.

(10) No deduction shall be made under subsection (9) in respect

of a tax credit received, expected to be received or reasonably

expected to be received under

Part 2.1 of the Act and this

Regulation.

4 The following is added after

section 2:

Information required for conditional approval letter

2.1 For the purposes of

section 69.4(1) of the Act, an application

for a conditional approval letter submitted by a partnership applicant

must be accompanied with

(

a) a copy of the partnership agreement setting out the mutual

rights and duties of the members of the applicant,

(

b) a copy of any current, relevant partnership agreement setting

out the mutual rights and duties of the members of a member

of the applicant,

(

c) a list of the partnership percentages of all of the members of

each partnership referred to in clauses (

a) and (

b) as of the

date the applicant applies for the conditional approval letter,

and

(

d) any other information requested by the Minister relating to

the applicant or a member of the applicant or a member of a

member of the applicant, including any relationship between

or among any of them.

Section 3 is amended

(

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

(1.1) For the purposes of

section 69.4(3)(

d) of the Act, the

minimum total of the eligible capital expenditures in a proposed

investment plan is $10 000.

(

b) in subsection (3) by striking out "expenditures resulting

from transactions between affiliates" and substituting "an

expenditure resulting from a non-arm's length transaction";

(

c) by adding the following after subsection (3):

(4) In calculating the amount of total capital expenditures in a

proposed investment plan, the Minister may deduct the value of

any federal, provincial or municipal assistance, including a grant,

subsidy, forgivable loan, deduction from tax or investment

allowance, that is received by, is entitled to be received by or can

reasonably be expected to be received by an applicant, a member

of an applicant or a member of a member of an applicant if the

Minister is satisfied that the assistance relates to one or more

capital expenditures in the proposed investment plan.

(5) No deduction shall be made under subsection (4) in respect

of a tax credit received, expected to be received or reasonably

expected to be received under

Part 2.1 of the Act and this

Regulation.

6 The following is added after

section 3:

Changes to be reported

3.1(1) Where an applicant is a corporate applicant, the prescribed

changes respecting the applicant that the applicant must report for

the purposes of

section 69.5(4) of the Act are any of the following:

(

a) an amalgamation as described in subsection 87(1) of the

federal Act;

(

b) the dissolution of the applicant;

(

c) the winding-up of the applicant if the applicant is a

subsidiary and the rules in subsection 88(1) of the federal Act

apply to the winding-up of that subsidiary.

(2) Where an applicant is a partnership applicant, the prescribed

changes that the applicant must report for the purposes of

section

69.5(4) of the Act are any of the following:

(

a) the dissolution of the applicant or of a partnership that is a

member of the applicant;

(

b) an amendment to a partnership agreement referred to in

section 2.1;

(

c) a change to the partnership percentage of the members of the

applicant or of the members of a member of the applicant;

(

d) an amalgamation of a corporate member of the applicant or

of a corporate member of a member of the applicant, as

described in subsection 87(1) of the federal Act;

(

e) the dissolution of a corporate member of the applicant or of a

corporate member of a member of the applicant;

(

f) the winding-up of a corporate member of the applicant or of

a corporate member of a member of the applicant, if the

corporate member is a subsidiary and the rules in subsection

88(1) of the federal Act apply to the winding-up of that

subsidiary;

(

g) any other change in the relationships between or among the

partnership applicant, the members of the partnership

applicant or the members of a member of the partnership

applicant.

Section 4 is amended

(

a) by repealing subsection (1) and substituting the

following:

APITC certificate

4(1) For the purposes of

section 69.7(1) of the Act, an

application for an APITC certificate must be accompanied with

(

a) evidence satisfactory to the Minister that a facility is in

operation and that the eligible applicant has made

eligible capital expenditures,

(

i) in the case of a new facility, for the purposes of

establishing the productive capacity of that facility

with respect to an eligible value-added agricultural

activity, or

(ii) in the case of an existing facility, for the purposes

of increasing the productive capacity of that

facility with respect to an eligible value-added

agricultural activity,

and

(

b) where the applicant is a partnership applicant,

(

i) a copy of the partnership agreement setting out the

mutual rights and duties of the members of the

applicant that is in effect as of the date the

applicant applies for the APITC certificate,

(ii) a copy of any relevant partnership agreement

setting out the mutual rights and duties of the

members of a partnership that is a member of the

applicant that is in effect as of the date the

applicant applies for the APITC certificate,

(iii) the partnership percentage of all of the members of

each partnership referred to in subclauses (

i) and

(ii) as of the date the applicant applies for an

APITC certificate, and

(iv) any other information requested by the Minister

relating to the partnership applicant or a member

of the partnership applicant or a member of a

member of the partnership applicant, including any

relationship between or among any of them.

(

b) by repealing subsection (2)(

b) and substituting the

following:

(

b) dealing at arm's length with the eligible applicant and,

if the applicant is a partnership applicant, with the

members of the applicant and, if applicable, with the

members of each member of the applicant.

(

c) by adding the following after subsection (2):

(2.1) Notwithstanding subsection (2)(b), the Minister may

authorize a document or written materials to be prepared by a

qualified person who is not dealing at arm's length with the

eligible applicant or with a member of the applicant or a member

of a member of the applicant if the Minister considers it

appropriate in the circumstances.

(

d) in subsection (3) by striking out "corporation" and

substituting "applicant";

(

e) in subsection (4)

(

i) by striking out "section 69.7(3)(d)" and

substituting "section 69.7(3.1)(d)";

(ii) by striking out "eligible corporation" and

substituting "applicant";

(

f) in subsection (5) by striking out "expenditures resulting

from transactions between affiliates" and substituting "an

expenditure resulting from a non-arm's length transaction".

8 The following is added after

section 4:

Additional information required re at-risk amount

4.1(1) For the purposes of

section 69.7(3.1)(

d) of the Act, a

partnership applicant must provide to the Minister, in respect of an

APITC certificate, within 12 months after submitting an application

under

section 69.7(1) of the Act,

(

a) each at-risk amount in respect of the time specified in

subsection (2) that is necessary for the Minister to determine

the tax credit amount to be specified on the APITC

certificate, or

(

b) a request under

section 4.2 for a $0 apportionment in respect

of the APITC certificate.

(2) The time in respect of which each at-risk amount is to be

provided under subsection (1) is,

(

a) where the application under

section 69.7(1) of the Act is

submitted on the last day of the fiscal period of the relevant

partnership, the end of that fiscal period, or

(

b) where the application under

section 69.7(1) of the Act is

submitted on a day that is not the last day of the fiscal period

of the relevant partnership, the end of the day on which the

application is submitted.

(3) Each at-risk amount provided in respect of an APITC certificate

must, if applicable, be adjusted to exclude from its calculation any

amount of anticipated API tax credit under

section 25.04 of the

Alberta Corporate Tax Act that relates to the APITC certificate.

(4) An at-risk amount provided under this

section must be calculated

by a qualified person who is dealing at arm's length with the

partnership applicant, with the members of the applicant and, if

applicable, with the members of each member of the applicant.

(5) Notwithstanding subsection (4), the Minister may authorize an

at-risk amount to be calculated by a qualified person who is not

dealing at arm's length with the partnership applicant or with a

member of the applicant or a member of a member of the applicant if

the Minister considers it appropriate in the circumstances.

(6) The partnership applicant must provide any further supporting

information requested by the Minister in respect of an at-risk

amount.

Zero dollar apportionment

4.2(1) During the 12-month period referred to in

section 4.1(1), a

partnership applicant may, in respect of an APITC certificate,

request that a corporate member be apportioned an amount of $0 on

the APITC certificate for the purposes of

section 69.8(1.1) of the

Act.

(2) A request under subsection (1)

(

a) must be accompanied with evidence of the consent of the

corporate member, and

(

b) is final.

Partnership percentage

4.3(1) A partnership percentage shall only include the share of the

profits, income or other compensation of the partnership from an

eligible value-added agricultural activity.

(2) For the purposes of determining a partnership percentage, the

Minister shall consider the terms of a partnership agreement required

to be provided under this Regulation.

(3) If, in the opinion of the Minister, the partnership agreement does

not reasonably set out the true share of the profits, income or other

compensation from an eligible value-added agricultural activity, the

Minister may require the partnership applicant to provide additional

information to substantiate a member's share.

(4) If, in the opinion of the Minister, the partnership agreement and

any additional information provided under subsection (3) does not

reasonably support the partnership applicant's determination of a

member's partnership percentage, the Minister may determine the

partnership percentage of the member.

Section 5(1) is repealed and the following is substituted:

Maximum amount and portion

5(1) For the purposes of

section 69.8(1) and (1.1) of the Act, the

prescribed maximum amount in eligible capital expenditures made in

respect of an applicant's approved investment plan is

$1 458 333 333.

10 The following is added after

section 5:

Special rules for partnership applicants

5.1(1) In this

section and in sections 5.2 and 5.3, "notional credit"

means the amount equal to 12% of the total eligible capital

expenditures made in respect of the partnership applicant's approved

investment plan, subject to the prescribed maximum, as referred to in

section 69.8(1.1) of the Act.

(2) Where

section 5.2 or 5.3 refers to an at-risk amount, that at-risk

amount is to be calculated in the same manner and in respect of the

same time as set out in

section 4.1.

(3) Where

section 5.2 or 5.3 refers to a partnership percentage, that

partnership percentage is as of the date the partnership applicant

applies for an APITC certificate under

section 69.7 of the Act.

Tax credit amount for corporate

member of partnership applicant

5.2(1) This

section applies to determine the apportionment of the

tax credit amount referred to in

section 69.8(1.1) of the Act to a

corporate member of a partnership applicant.

(2) Where the corporate member is not a limited partner, the tax

credit amount specified on an APITC certificate issued to the

corporate member is the amount calculated using the following

formula:

A x B

where

A is the notional credit of the partnership applicant;

B is the partnership percentage of the corporate member of the

partnership applicant.

(3) Where the corporate member is a limited partner, the tax credit

amount specified on an APITC certificate issued to the corporate

member is the lesser of

(

a) the amount calculated using the following formula:

A x B

where

A is the notional credit of the partnership applicant;

B is the partnership percentage of the corporate member

of the partnership applicant,

and

(

b) the corporate member's at-risk amount.

Tax credit amount for corporate member of

a member of partnership applicant

5.3(1) This

section applies to determine the apportionment of the

tax credit amount referred to in

section 69.8(1.1) of the Act to a

corporate member of a member of a partnership applicant.

(2) Where the member of the partnership applicant is not a limited

partner and the corporate member of the member is not a limited

partner, the tax credit amount specified on an APITC certificate

issued to the corporate member is the amount calculated using the

following formula:

A x C x D

where

A is the notional credit of the partnership applicant;

C is the partnership percentage of the member of the

partnership applicant of which the corporate member is a

member;

D is the partnership percentage of the corporate member of the

member of the partnership applicant.

(3) Where the member of the partnership applicant is not a limited

partner and the corporate member is a limited partner of the member

of the partnership applicant, the tax credit amount specified on an

APITC certificate issued to the corporate member is the lesser of

(

a) the amount calculated using the following formula:

A x C x D

where

A is the notional credit of the partnership applicant;

C is the partnership percentage of the member of the

partnership applicant of which the corporate member is

a member;

D is the partnership percentage of the corporate member

of the member of the partnership applicant,

and

(

b) the corporate member's at-risk amount.

(4) Where the member of the partnership applicant is a limited

partner and the corporate member is not a limited partner of the

member of the partnership applicant, the tax credit amount specified

on an APITC certificate issued to the corporation is the amount

calculated using the following formula:

E x D

where

E is the lesser of

(

a) the amount calculated using the following formula:

A x C

where

A is the notional credit of the partnership applicant;

C is the partnership percentage of the member of the

partnership applicant of which the corporate

member is a member,

and

(

b) the member's at-risk amount;

D is the partnership percentage of the corporate member of the

member of the partnership applicant.

(5) Where the member of the partnership applicant is a limited

partner and the corporate member is a limited partner of the member

of the partnership applicant, the tax credit amount specified on an

APITC certificate issued to the corporate member is the lesser of

(

a) the amount calculated using the following formula:

E x D

where

E is the lesser of

(

i) the amount calculated using the following formula:

A x C

where

A is the notional credit of the partnership applicant;

C is the partnership percentage of the member of the

partnership applicant of which the corporate

member is a member,

and

(ii) the member's at-risk amount;

D is the partnership percentage of the corporate member of

the member of the partnership applicant,

and

(

b) the corporate member's at-risk amount.

11 The following is added after

section 7:

Transitional

7.1(1) In this section,

(a) "amended Act" means the Investing in a Diversified Alberta

Economy Act as it reads on the coming into force of this

section;

(b) "amended Regulation" means this Regulation as it reads on

the coming into force of this section;

(c) "former Act" means the Investing in a Diversified Alberta

Economy Act as it read immediately before the coming into

force of this section;

(d) "former Regulation" means this Regulation as it read

immediately before the coming into force of this section.

(2) Subject to this section, the amended Act and the amended

Regulation apply to

(

a) an eligible corporation that applied for a conditional approval

letter before the coming into force of this

section but has not

been issued a conditional approval letter,

(

b) an eligible corporation that applied for an APITC certificate

before the coming into force of this

section but has not been

issued an APITC certificate, and

(

c) an eligible corporation that has been issued an APITC

certificate but has not made a deduction in respect of the

APITC certificate under the Alberta Corporate Tax Act.

(3) Subject to subsections (4) and (5), where an eligible corporation

applied for a conditional approval letter or an APITC certificate

under the former Act,

(

a) the eligible corporation is deemed to be an eligible applicant

under

section 69.2(

a) of the amended Act,

(

b) if a conditional approval letter was issued to the eligible

corporation under the former Act, it is deemed to have been

issued to the eligible applicant under

section 69.4(3) of the

amended Act,

(

c) if a proposed investment plan was approved under the former

Act, it is deemed to have been approved under the amended

Act,

(

d) if an APITC certificate was issued to the eligible corporation

under the former Act, it is deemed to have been issued to the

eligible applicant under

section 69.7(3) of the amended Act,

and

(

e) the provisions in the amended Act and amended Regulation

apply.

(4) Subsection (5) applies where

(a) 2 or more eligible corporations under the former Act were

members of the same partnership,

(

b) each corporation was issued a separate conditional approval

letter under the former Act, and

(

c) the conditional approval letters referred to in clause (

b) were

for the same eligible value-added agricultural activity.

(5) Within 6 months of the coming into force of this section, any

one of the eligible corporations referred to in subsection (4) may

make a request to the Minister to have the partnership, rather than

the eligible corporations, become a partnership applicant under the

amended Act.

(6) An eligible corporation that makes a request under subsection

(5) must provide with the request all of the information required by

section 2.1 of the amended Regulation.

(7) The Minister, on receiving a request under subsection (5) and on

determining that all the relevant requirements of the amended Act

and amended Regulation are met, may

(

a) cancel all of the conditional approval letters issued under the

former Act to the eligible corporations,

(

b) issue a conditional approval letter to the partnership applicant

under the amended Act,

(

c) determine the appropriate date of the new conditional

approval letter, and

(

d) approve the proposed investment plan submitted under the

former Act as an approved investment plan under the

amended Act, with or without modification.

12 This Regulation comes into force on the coming into

force of

section 4(12) of the Financial Statutes Amendment

Act, 2024.