Adjustments for payments made under Payments in Lieu of Taxes Act (Canada)
87.1(1)Where an amount paid by the Province to a municipality in respect of a grant under the
Payments in Lieu of Taxes Act (Canada) for a fiscal year is less than the amount actually received by the Province,
(a)
the council of the municipality shall, on notice by the Minister, cause the difference to be credited to the current fund for the second next ensuing year, and
(b)
the Minister shall for the second next ensuing year include the amount that represents such difference in the payment made under section 8 of the
Community Funding Act.
87.1(2)Where a payment made by the Province to a municipality in respect of a grant under the
Payments in Lieu of Taxes Act (Canada) for a fiscal year exceeds the amount actually received by the Province,
(a)
the council of the municipality shall, on notice by the Minister, cause the difference to be debited against the current fund for the second next ensuing year, and
(b)
the Minister shall for the second next ensuing year deduct the amount that represents such difference from the payment made under section 8 of the
Community Funding Act.
1999, c.23, s.2; 2000, c.26, s.206; 2001, c.15, s.7; 2005, c.7, s.49; 2006, c.16, s.119; 2012, c.56, s.31