CITY OF MEDICINE HAT PAYMENT IN LIEU OF TAX AMENDMENT REGULATION
Electric Utilities Act
June 9, 2021
118/2021
For information only: Made by the Lieutenant Governor in Council (O.C. 171/2021) on June 9, 2021 pursuant to section 147 of the Electric Utilities Act. 1 The City of Medicine Hat Payment in Lieu of Tax Regulation (AR 235/2003) is amended by this Regulation. 2 Section 1(1) is amended (a) by adding the following after clause (e): (e.1) "emissions cost" means the amount that the City of Medicine Hat, when computing income under the Income Tax Act (Canada) for a year, would be entitled to deduct in respect of (i) the costs of complying with section 12(3) of the Technology Innovation and Emissions Reduction Regulation (AR 133/2019), and (ii) the costs of complying with any similar obligation under an enactment of Alberta or Canada governing greenhouse gas emissions, if the City of Medicine Hat were not exempt from taxation under section 149 of the Income Tax Act (Canada); (b) by adding the following after clause (f): (f.1) "export emissions cost" means the amount calculated for a year in accordance with the following formula: A x EC B where "A" is the number of megawatt hours of electric energy provided to the interconnected electric system by the available units in the year; "B" is the number of megawatt hours of electric energy generated by the available units in the year; "EC" is the emissions cost for the year; 3 Section 3(1)(a) is repealed and the following is substituted: (a) the taxable amount related to exports for the year, calculated by subtracting the export emissions cost for the year from the sum of the amounts calculated as follows for each settlement interval in the year in which an export occurs: export revenue - (export cost + export transmission cost + transmission cost associated with exports); 4 Section 11 is amended by striking out "June 30, 2021" and substituting "June 30, 2026".