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The bill proposes improvements to post-secondary education funding, implementing the outcomes-based funding approach to ensure taxpayers get as much value as possible for every dollar spent on the higher learning system. It also includes measures to level the playing field for Alberta tourism businesses and ensures K-12 education dollars go into the classroom.
“Bill 5 continues our government’s thoughtful and measured approach to fiscal responsibility. We’re ensuring taxpayer dollars are spent with great intention to provide sustainability in all levels of education and that those dollars are spent in the classroom where they’re needed. We are also doing our part to create a fair business environment for tourism in Alberta.”
The highlights of Bill 5 include:
- Introducing an outcomes-based funding model for post-secondary education.
- Requiring K-12 school boards to obtain ministerial approval before spending reserve funds.
- Applying the same levy charged on traditional hotel rooms to short-term rentals offered through online marketplaces.
- Strengthening how the government and school boards work together to ratify collective agreements.
- Safeguarding Albertans’ life insurance policies by prohibiting the use of side accounts for investment purposes.
Full details of the bills are online.