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Alberta.ca Account
Part of New and proposed legislation

Updating financial laws

The Financial Statutes Amendment Act (Bill 12) makes practical, targeted updates to ensure Alberta’s laws remain modern, efficient and responsive to the needs of Albertans.

Status: The Financial Statutes Amendment Act received royal assent December 9, 2025
Ministry responsible: Treasury Board and Finance

Overview

The Financial Statutes Amendment Act (formerly Bill 12) will improve how government works and advance government priorities to attract investment, support vulnerable Albertans and strengthen the economy.

These changes will help us serve Albertans better by improving program delivery, adding protections for investors, combating issues around contraband tobacco and better supporting vulnerable Albertans.

Key changes

The Financial Statutes Amendment Act (No. 2), will amend the following legislation:

  • Securities Amendment Act

    • protects companies from unfair lawsuits related to climate disclosures
    • creates penalties for spreading misinformation that could harm the stock market
    • enables the Alberta Securities Commission to halt trading when false information is circulating

  • Tobacco Tax Amendment Act

    • introduces fines for contraband tobacco products of 3 times the tax normally paid on legal tobacco
    • requires law enforcement to report seizures of illegal tobacco to the Ministry of Treasury Board and Finance

  • Alberta Corporate Tax Amendment Act

    Implements the provincial data centre levy framework, which includes a levy on the value of computer equipment for large data centres (with 75 megawatts of power or more).

  • AIMCo Amendment Act

    Protects taxpayers from financial risk arising from past investment decisions made by the prior AIMCo leadership.

  • Heroes’ Compensation Amendment Act

    Increases the annual funding limit for the Alberta Heroes’ Fund for First Responders from $1.5 million to $3 million.

  • Alberta Indigenous Opportunities Corporation Amendment Act

    Confirms government financial backing for any potential financial liabilities of the Alberta Indigenous Opportunities Corporation.

  • Assured Income for the Severely Handicapped Amendment Act

    Provides legislative authority for the new Alberta Disability Assistance Program, alongside the Assured Income for the Severely Handicapped (AISH) program, empowering Albertans with disabilities to pursue fulfilling job opportunities while continuing to receive supports they need.

  • Public Trustee and Adult Guardianship Amendment Acts

    • modernizes these 2 key pieces of legislation that guide decision-making and asset management for vulnerable Albertans
    • improves services for vulnerable Albertans, refine asset management powers and enable more timely support

  • Minor amendments

    • enables the Legislative Assembly Office to issue remuneration to Parliamentary Secretaries at rates prescribed by the Lieutenant Governor in Council
    • updates personal income tax, pension plans and fiscal sustainability legislation for clarity and alignment with federal rules

Read the Bill 12 Financial Statutes Amendment Act (No. 2), 2025 fact sheet.

Next steps

The Financial Statutes Amendment Act (No. 2), 2025 will take effect upon various dates.

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