April 7, 1986 ALBERTA HANSARD 25 LEGISLATIVE ASSEMBLY OF ALBERTA to a life insurance company to purchase a life annuity, or to another pension plan. Fourth, a pension payable to a member who has a spouse Title: Monday, April 7, 1986 2:30 p.m. must be a joint survivor pension which will provide a pension of at least 60 percent to the spouse on the member's death. Under certain circumstances the spouse will be able [The House met at 2:30 p.m.] to waive that requirement. The statute also provides for pensions for spouses on death of a member before the commencement of the pension, equal to 60 percent of the PRAYERS value of the pension accrued to the member. Fifth, pension plans will be required to credit a reasonable rate of interest on employee contributions. Sixth, employers [Mr. Speaker in the Chair] will be required to pay at least 50 percent of an employee's accrued pension. Seventh, employees will be entitled to full MR. NELSON: Mr. Speaker, I'd like to rise on a point disclosure of information regarding their accrued benefits of privilege. Over the last week Canada has been again and accumulated contributions. Eighth, the Bill contains host to the world curling championships. It is with pride certain provisions respecting the administration of multi• that I stand in my place and ask that the legislators send employer pension plans. our congratulations to the world champions from Canada. Mr. Speaker, the principles in this Bill are the result Ed Lukowich and his team from Calgary have again shown of extensive consultation with all parties following the the commitment of our athletes from Alberta to succeed in introduction of Bill 79 on May 29, 1985. It will replace their chosen athletic endeavour. Our congratulations should the existing Pension Benefits Act. The joint survivor pension, go to our Alberta world champions: Ed Lukowich, John the preretirement survivor pension, the earlier vesting pro• Ferguson, Neil Houston, and Brent Syme. [applause] vision, and the provision for part-time employees to join a pension plan will be of particular significance to female employees and female spouses. MR. SPEAKER: Perceiving that there will be no contrary voice in the House and that it's unanimous, I'll see that [Leave granted; Bill 12 read a first time] the message which the House wishes to have sent will go. Bill 2 HON. MEMBERS: Agreed. Alberta Stock Savings Plan Act MR. HYNDMAN: Mr. Speaker, I request leave to introduce PRESENTING REPORTS BY a Bill, being the Alberta Stock Savings Plan Act. STANDING AND SPECIAL COMMITTEES The purposes of this Bill are: to create jobs, attract more Albertans to the stock markets, to encourage equity MR. KOWALSKI: Mr. Speaker, I wish to table the report ownership of Alberta companies by Albertans, to broaden of the Standing Committee on the Alberta Heritage Savings the economy, strengthen the Alberta Stock Exchange, and Trust Fund Act appointed for the Third Session of the 20th strengthen the Alberta financial environment generally. The Legislature, relating to the 1984-85 annual report of the Bill will allow the Provincial Treasurer to issue certificates Provincial Treasurer on the fund, pursuant to section 14(3) of eligibility to eligible corporations for specified share of the Act. I'm also pleased to report that the committee issues. Purchasers of shares carrying a certificate may claim has made every effort to fulfill its duties as required by a tax credit of 10 to 30 percent of the share purchase price the Act and as expected by the Legislative Assembly. The on their tax returns for 1986 and subsequent taxation years, report contains 18 recommendations. providing they follow certain procedures. I would stress. Mr. Speaker, that investors should take all normal precau• INTRODUCTION OF BILLS tions in making an investment in certified shares under the program. Bill 12 Employment Pension Plans Act [Leave granted; Bill 2 read a first time] MR. YOUNG: Mr. Speaker, I beg leave to introduce Bill Bill 14 12, the Employment Pension Plans Act. Alberta Corporate Income Tax Bill 12, Mr. Speaker, includes among other items that Amendment Act, 1986 both full-time and part-time employees will be eligible to join an available pension plan maintained for their class of MR. HYNDMAN: Mr. Speaker, I request leave to introduce employment if they have completed two years of employment Bill 14, the Alberta Corporate Income Tax Amendment Act, and have met a minimum earnings test. 1986. Second is the provision for vesting and locking in of The purpose of this Bill is to assist the energy industry pensions after five years of employment. Employees who by implementing the enrichment of the royalty tax credit terminate membership in a plan after five years of employ• program announced as part of the provincial energy package ment will not forfeit their entitlement to the pension accrued of June 1985. It also implements the further temporary under the plan. enhancement of the royalty tax credit program announced Third, employees who terminate membership in a plan by my colleague the minister of energy just six days ago; will be permitted to transfer the value of their accrued that is, the royalty credit level increase from 75 percent to pension to a locked-in registered retirement savings plan, 95 percent to a maximum of $3 million effective immediately. 26 ALBERTA HANSARD April 7, 1986 As well, Mr. Speaker, the Bill contains provisions to obviate to individuals to better understand what a personal guarantee inappropriate circumvention of the multiplication rules, and and postponement of claim form is, that they are asked to those have been developed with the industry over the past sign by various lending institutions, more particularly banks. number of months. [Leave granted; Bill 202 read a first time] [Leave granted; Bill 14 read a first time] Bill 204 Bill 201 Fair Insurance Rate Act An Act to Amend the Landlord and Tenant Act MR. R. SPEAKER: Mr. Speaker, I beg leave to introduce Bill 204, the Fair Insurance Rate Act. MR. OMAN: Mr. Speaker, I would ask your leave to The purpose of this Bill is to eliminate discrimination introduce a Bill, being Bill 201, An Act to Amend the on the basis of age, sex, or occupation, when applied to Landlord and Tenant Act. application of auto insurance. The Bill would base auto This Bill would effectively prevent a landlord from insurance rates on an individual's driving record rather than forcing commercial premises to be open seven days a week. on group behaviour. [Leave granted; Bill 201 read a first time] [Leave granted; Bill 204 read a first time] Bill 6 Bill 7 Women's Secretariat Act Rural Electrification Revolving Fund Amendment Act, 1986 MR. JOHNSTON: Mr. Speaker, I request leave to introduce MR. BOGLE: Mr. Speaker, I request leave to introduce Bill 7, the Women's Secretariat Act. Bill 6, Rural Electrification Revolving Fund Amendment Mr. Speaker, this important piece of legislation provides Act, 1986. This being a money Bill, Her Honour the for three principles. First of all, it confirms the Alberta Honourable the Lieutenant Governor, having been informed government organization of the Women's Secretariat now of the contents of this Bill, recommends the same to the established and in operation. It provides for the establishment Assembly. of an 11-member citizens' Advisory Council on Women's The purpose of this amendment is to increase the amount Issues and, finally, repeals the Women's Bureau Act. of funds available in the Rural Electrification Revolving Fund from $55 million to $75 million, in order that Alberta DR. BUCK: Margaret's Bill? farmers continue to have access to financing on favourable terms for new electrical services. [Leave granted; Bill 7 read a first time] [Leave granted; Bill 6 read a first time] [Two members rose] Bill 206 MR. SPEAKER: Order please. I believe the hon. Leader An Act to Eliminate Extra Billing of the Opposition caught my eye first. MR. GURNETT: Mr. Speaker, I request leave to introduce Bill 207 Bill 206, being An Act to Eliminate Extra Billing. Alberta Personal Income Tax Albertans will be the big winners when this Act finally Increase Repeal Act becomes law. The financial constraints preventing the needed service expansion at Edmonton's Royal Alexandra hospital, MR. MARTIN: Thank you, Mr. Speaker. for example, would be wiped out by the $20 million a year I beg leave to introduce Bill 207, the Alberta Personal savings that Alberta would realize upon making this Act Income Tax Increase Repeal Act. law, and Albertans would continue to benefit from the $10 The purpose of this Bill is to roll back the 13 percent million . increase in personal income tax imposed during the worst of the last recession. Mr. Speaker, we see it as a first step MR. SPEAKER: Order please. I hesitate to interrupt the to taxation reform that we should return to the pockets of hon. member. I realize there's been fairly ample precedent this afternoon for remarks being made in regard to Bills ordinary people the $220 million per year involved so that that really recommend the Bills and go beyond explaining they can stimulate the economy in these tough economic their contents. So I can't say that this is really unusual, times. but perhaps it goes a little further than some of the others have gone. [Leave granted; Bill 207 read a first time] [Leave granted; Bill 206 read a first time] Bill 202 An Act to Amend Bill 8 the Guarantees Acknowledgment Act Department of Technology, Research and Telecommunications Act MR. NELSON: Mr.