Federal-Provincial Fiscal Arrangements Act

Marginal note:Provincial tax revenue guarantee payments

9 In the event that amendments made to the Income Tax Act that

• (a) apply to a taxation year coinciding with a calendar year ending in a fiscal year occurring in the period beginning on April 1, 1999 and ending on March 31, 2004, and

• (b) were introduced in the House of Commons during the first taxation year to which they apply

would, in the opinion of the Minister, result in the reduction, by at least one per cent, of the total basic personal income tax revenue that would have been derived in a province for that taxation year, the Minister may, subject to this Part, pay to the province for that fiscal year a provincial personal income tax revenue guarantee payment not exceeding the amount computed in accordance with section 10.