Prentice has introduced a bill to cancel the controversial Land Assembly Project Area Act.
The legislation was passed in 2009 but has yet to be proclaimed into law.
Some landowners and the Opposition say the act is fundamentally unfair because it allows the province to expropriate land without proper compensation or fair recourse to the courts.
Wildrose Leader Danielle Smith says other related bills need to be changed as well to ensure that the rights of private property owners are respected.
Smith says her party will introduce a motion in the legislature to push forward the idea of enshrining property rights in the Charter of Rights and Freedoms.