51MInfrastructure recovery charge

51M Infrastructure recovery charge

S. 51M(1) amended by No. 10/2017 s. 25(1).

(1) With the prior approval of the Governor in Council, Development Victoria may, by resolution, levy charges on owners of properties in the project area.

(2) An approval under subsection (1) may only be given on the recommendation of the Minister made with the approval of the Treasurer.

(3) Before making a recommendation under subsection (2), the Minister must be satisfied that the total amount estimated to be received from the charges levied under the resolution on owners of properties in the project area will not exceed the estimated amount (determined by the Minister) of public investment incurred or to be incurred in the project area for the declared project on or after the date of the declaration of the project under section 34.

S. 51N inserted by No. 35/2006 s. 7.