Bounty (Fuel Ethanol) Act 1994
28Amount of bounty proposed to be available during bounty period
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28 Amount of bounty proposed to be available during bounty period
(1) Subject to subsections (2), (3) and (4), it is the intention of the Parliament that the total amount available for payment of bounty in respect of bountiable fuel ethanol produced in a bounty year is the amount set out in the following table:
| Bounty year in which production occurs | Amount to be available for payment of bounty$ |
|---|---|
| year 1 | 6,000,000 |
| year 2 | 8,000,000 |
| year 3 | 11,000,000 |
(2) If an amount available for payment of bounty in respect of year 1 or year 2 is not all paid out in respect of bountiable fuel ethanol produced in that year, it is the intention of the Parliament that the amount available in respect of production in the year following that year be increased by the amount not so paid out. (2A) Any increase in the amount available for the payment of bounty in respect of production in a bounty year following another bounty year (the earlier year) takes place after decisions have been made under section 26 in relation to all claims for payment of bounty in respect of production in the earlier year. (3) The amount available for payment of bounty specified under subsection (1) in respect of bountiable fuel ethanol produced in a bounty year is reduced by an amount that represents the cost of administering this Act for that bounty year. (4) The amount that represents the cost of administering this Act in respect of a bounty year is the amount set out in the following table:
| Bounty year | Cost of administering this Act$ |
|---|---|
| year 1 | 177,000 |
| year 2 | 177,000 |
| year 3 | 262,000 |