LOCAL GOVERNMENT (FINANCIAL ASSISTANCE) ACT 1995 - SECT 12 Additional funding for local government purposes

LOCAL GOVERNMENT (FINANCIAL ASSISTANCE) ACT 1995 - SECT 12

  (1)   Subject to this section and section   14, each State is entitled to the payment, in respect of a year (the current year ), by way of financial assistance for local government purposes, of the amount worked out using the formula:

    where:

    Estimated additional previous year funding amount means the estimated additional previous year funding amount in relation to the State for the current year;

"Estimated factor" means the estimated factor for the current year.

Note:   For estimated additional previous year funding amount and estimated factor see subsection   4(2).

  (2)   A State is not entitled to a payment under this section in respect of a year until 15   August in the year.

  (3)   A State is not entitled to a payment under this section in respect of a year unless:

  (a)   an estimate under subsection   7(3) has been made in relation to the year; and

  (b)   an estimate under subsection   7(4) or (5), as the case may be, has been made in relation to the State for the year.

  (4)   So far as practicable, an amount to which a State is entitled under this section must be paid in equal quarterly instalments.