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Statutes of Newfoundland 1994
AN ACT TO AMEND THE MUNICIPAL GRANTS ACT
(Assented to December 16, 1994)
1. S.3 Amdt.
Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:
RSN 1990 cM-22 as amended
1. (1) Subsection 3(1) of the Municipal Grants Act is amended by deleting the words and comma "municipal operating grant," and substituting the words and commas "total municipal operating grant, as prescribed by regulation,".
(2) Paragraph 3(1)(b) of the Act is amended by adding immediately after the words "in the municipality" a comma and the words "subject to paragraph (d)".
(3) Subsection 3(1) of the Act is amended by repealing paragraph (d) and substituting the following:
(d) commencing for the financial year 1994, a fixed amount prescribed by regulation, to be known as the roads subsidy component.
(4) Section 3 of the Act is amended by adding the following immediately after subsection (1):
(1.1) The total amount of the municipal operating grant shall be prescribed by regulation.
(5) Section 3 of the Act is amended by adding the following immediately after subsection (2):
(3) Commencing for the financial year 1994, where the total of the individual components determined under subsection 3(1) is different from the total municipal operating grant funding limitation prescribed by regulation, the grant shall be adjusted to that funding total by expressing the difference as a percentage of the total local revenue incentive component, and reducing or increasing the local revenue incentive component of each municipality on the basis of that percentage.
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