RELATED PROVISIONS

• — 2007, c. 35, par. 174(1)(c)

  Effect of election by Newfoundland and Labrador — fiscal year 2007-2008

  • 174. (1) For the fiscal year that begins on April 1, 2007, if Newfoundland and Labrador makes the election under subsection 3.7(1) of the Federal-Provincial Fiscal Arrangements Act,

    • (c) the definition “fiscal equalization payment” in section 18 of the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act shall be read as follows:

      “fiscal equalization payment”

      “fiscal equalization payment” means

      • (a) for the purposes of section 22, the fiscal equalization payment that would be received by the Province for a fiscal year if the amount of that payment were determined in accord-ance with section 3.2 of the Federal-Provincial Fiscal Arrangements Act, without regard to section 3.4 of that Act; and

      • (b) for the purposes of sections 24 to 26, the fiscal equalization payment that would be received by the Province for a fiscal year under Part I of the Federal-Provincial Fiscal Arrangements Act if the Province’s total per capita fiscal capacity were the amount determined by the formula

        A + B + (C / F)

        where

        A, 

        B, C and F have the same meaning as in the definition “total per capita fiscal capacity” in subsection 3.5(1) of that Act.

• — 2007, c. 35, s. 174(2)

  • Effect of election by Nova Scotia — fiscal year 2007-2008

     (2) For the fiscal year that begins on April 1, 2007, if Nova Scotia makes the election under subsection 3.7(1) of the Federal-Provincal Fiscal Arrangements Act, the definition “fiscal equalization payment” in section 4 of the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act shall be read as follows:

    “fiscal equalization payment”

    “fiscal equalization payment” means

    • (a) for the purposes of section 8, the fiscal equalization payment that would be received by the Province for a fiscal year if the amount of that payment were determined in accord-ance with section 3.2 of the Federal-Provincial Fiscal Arrangements Act, without regard to section 3.4 of that Act; and

    • (b) for the purposes of sections 10 to 12, the fiscal equalization payment that would be received by the Province for a fiscal year under Part I of the Federal-Provincial Fiscal Arrangements Act if the Province’s total per capita fiscal capacity were the amount determined by the formula

      A + B + (C / F)

      where

      A, 

      B, C and F have the same meaning as in the definition “total per capita fiscal capacity” in subsection 3.5(1) of that Act.