AB Bill 12 Financial Statutes Amendment Act, 2025 (No. 2) ($)*

Read Full Bill Text Here

Bill 12: Financial Statutes Amendment Act, 2025 (No. 2) ($)*

Bill Sponsor: Horner

Bill Type: Government Bills

Amendments: Yes

Money Bill: Yes

Documents

Bill 12

A2- December 9, 2025

First Reading

November 25, 2025 passed 478

Second Reading

December 2, 2025 adjourned 693-98

December 3, 2025 passed 731-37

Committee of the Whole

December 3, 2025 adjourned 745-50

December 9, 2025 passed with amendments 850-55

Third Reading

December 9, 2025 passed on division 860-67

Royal Assent

December 11, 2025

Comes into Force

on various dates SA 2025 c20 4/26/2026 12:01 PM

"Note: This Bill was published by the Alberta Legislature as a security-locked PDF — content copying blocked, printing only allowed. So we printed the document and made our summary from that copy.

WHO GAINS POWER

  • The Public Trustee gains expanded authority to manage finances and property of incapacitated adults — including selling real estate — without court approval
  • The Public Trustee gains a full liability shield for anything done in good faith
  • Health care providers gain authority to assess an adult's financial capacity and trigger Public Trustee intervention
  • The Minister (not Lieutenant Governor in Council) now appoints the Public Trustee — shifting that power from Cabinet to a single Minister
  • Directors under AISH gain broader discretion to appoint financial administrators to manage client benefits without client consent
  • The Securities Commission gains new authority to halt trading when it believes misleading information is being spread about an issuer
  • The Alberta Securities Commission gains new regulation-making power over climate-related disclosure liability

WHO LOSES POWER

  • Incapacitated adults lose the ability to challenge Public Trustee financial decisions through normal legal channels — liability is shielded
  • AISH clients transitioning to the new Alberta Disability Assistance Program (ADAP) have no right of appeal over that transition
  • Courts lose some oversight — the Public Trustee no longer needs court permission to act after a represented adult dies
  • Cabinet (Lieutenant Governor in Council) loses appointment authority over the Public Trustee to the Minister

WHO GAINS MONEY

  • Data centres and co-location facilities with 75 MW+ electricity capacity become subject to a new Data Centre Levy — revenue goes to the Province
  • The Province gains new tobacco tax penalty revenue — up to 3x the applicable tax for black stock and unmarked tobacco
  • Heroes' Compensation Fund cap doubles from $1.5M to $3M annually
  • AIMCo and the Crown are shielded from financial liability for losses to pension fund clients arising before November 7, 2024
  • The Alberta Indigenous Opportunities Corporation gains a Crown guarantee on all its liabilities

WHO LOSES MONEY

  • Large data centre operators (75 MW+) pay a new annual levy based on computing equipment cost and grid electricity use
  • Tobacco retailers and possessors face significantly higher penalties for non-compliant products
  • Formerly eligible AISH clients transitioning to ADAP may receive lower benefit amounts — explicitly permitted under the Bill
  • Pension fund claimants (designated entities and their beneficiaries) lose the right to sue AIMCo or the Crown for pre-November 2024 losses

THE CATCH

  • The AISH restructure is the biggest social policy change in the Bill — it creates two separate programs (AISH for permanent disability, ADAP for substantial impediment) and transitions existing clients automatically with no appeal rights and potentially lower benefits
  • The AIMCo immunity clause is retroactive to November 7, 2024 — it shields the Crown and AIMCo from lawsuits that may already exist or be in progress
  • The Data Centre Levy includes a formula that rewards operators who source power from new generation capacity (reducing their effective rate) — but the amendment tightens this: no levy exemption unless the facility is actually connected to the grid, directly or indirectly
  • The Public Trustee's new liability shield is broad — "good faith" is the only standard, with no independent oversight mechanism added
  • Parliamentary secretaries now receive allowances and expenses — authorized by Cabinet with no legislated cap