Alberta overhauls fiscal and investment laws with omnibus bill

The Alberta government has unveiled a massive omnibus bill that introduces Canada’s first data-centre levy, cracks down on stock-market misinformation, expands disability supports, and boosts funding

Source: Wikimedia Commons

The Alberta government has unveiled a massive omnibus bill that introduces Canada’s first data-centre levy, cracks down on stock-market misinformation, expands disability supports, and boosts funding for fallen first responders, marking an overhaul of provincial finance and regulation.

Bill 12, the Financial Statutes Amendment Act, amends more than a dozen pieces of legislation across multiple ministries.

The bill updates the Securities Act, giving the Alberta Securities Commission new powers to respond to false or misleading online information that can move stock prices. Officials said the enforcement tools target individuals who attempt to manipulate securities through online platforms.

“What we’re trying to do is protect investors from people that don’t have to disclose their interest or intent and are attempting to drive a stock up or down,” said Finance Minister Nate Horner.

He added that Alberta’s new authority to temporarily halt trading in situations involving misinformation is significant.

“The halt order… is somewhat novel in the country, but will be likely mimicked by B.C. and others shortly,” Horner said.

Alberta is also introducing new administrative penalties under the Tobacco Tax Act, which will triple fines for the purchase, storage or sale of contraband tobacco and require law enforcement to report all seizures. Horner said the measures aim to cut off illegal supply chains.

“Contraband tobacco not only undermines public health and makes tobacco more available for minors, it creates unfair competition for legal retailers and diminishes revenue that funds the programs and services Albertans rely on,” Horner said.

A new levy on large-scale data centres will apply to facilities with a capacity of 75 megawatts or greater. The rate is fully deductible from Alberta corporate income tax. The province said the levy will support Alberta’s data centre strategy and attract long-term digital investment. Technology and Innovation Minister Nate Glubish said the rates depend on how much electricity a facility draws from the grid.

He explained that Alberta has followed the lead of other jurisdictions by implementing a levy on computer hardware, taxing the racks of chips that perform computations in data centres.

“That levy is going to be two per cent for any facility that is grid-connected and grid-reliant. It will be one per cent on that equipment for any project that is supplying their own electricity, but still connected to the grid for redundancy in case their power supply goes down for maintenance. And it will be zero per cent for any facility that is completely disconnected from the grid—In other words—completely off-grid,” Glubish said.

Glubish noted that large data centres require 99.999 per cent uptime and cannot rely on intermittent sources such as wind or solar.

He added that this aligns with what he and the premier have been urging, which is encouraging projects to bring their own power.

“At the end of the day, if these sites are going to use Albertans’ power and water and land, we simply want them to be good corporate citizens and pay their fair share.”

A major component of the bill is the formal establishment of the Alberta Disability Assistance Program (ADAP), which will enable disabled Albertans to pursue employment while maintaining financial support. Under the new structure, the province says ADAP recipients will be able to earn the highest employment income in Canada without losing benefits.

“With these amendments, we’re opening the door for people with disabilities to build the careers they want without having to sacrifice the supports they rely on,” said Minister of Assisted Living and Social Services Jason Nixon.

Nixon said ADAP’s intent is to eliminate penalties for disabled Albertans who try to work.

“For many people with disabilities, the moment they start building a career, earning a paycheque, they risk losing the supports that they rely on. That’s not fair, and it does not reflect the reality of many Albertans’ lives.”

The bill also modernizes the Public Trustee Act and the Adult Guardianship and Trusteeship Act, which the government says have not been substantially updated for decades. The changes are intended to reduce delays and improve decision-making for vulnerable Albertans.

The bill further doubles the Alberta Heroes’ Fund annual limit from $1.5 million to $3 million to ensure funding is available for eligible first-responder families. It also clarifies that the government backstops liabilities of the Alberta Indigenous Opportunities Corporation and introduces taxpayer-protection provisions related to past Alberta Investment Management Corporation investment decisions.

Other amendments update tax alignment with federal rules, clarify remuneration for parliamentary secretaries and make housekeeping changes across several statutes.