Federal-Provincial Fiscal Arrangements Act

Marginal note:Territorial formula financing payments

• 4.1 (1) Subject to the other provisions of this Act, there may be paid to a territory a territorial formula financing payment not exceeding the amounts determined under this Part for each fiscal year in the period beginning on April 1, 2007 and ending on March 31, 2014.

• Marginal note:Fiscal year 2007-2008

  (2) The territorial formula financing payment that may be paid to a territory for the fiscal year beginning on April 1, 2007 is equal to,

  • (a) for Yukon, $540,095,000;

  • (b) for the Northwest Territories, $788,350,000; and

  • (c) for Nunavut, $892,852,000.

• Marginal note:Subsequent fiscal years

  (3) Subject to the other provisions of this Part, the territorial formula financing payment that may be paid to a territory for a fiscal year beginning after March 31, 2008 is equal to the amount, as determined by the Minister, by which

  • (a) the aggregate of the gross expenditure base and the superannuation adjustment for that territory for that fiscal year

  is greater than

  • (b) the eligible revenues for that territory for that fiscal year.