15CState fiscal contribution—1998‑99

15C State fiscal contribution—1998‑99

(1) Financial assistance to which a State is entitled under section 9 (a financial assistance grant) in relation to the grant year commencing on 1 July 1998 is granted on condition that the State will pay to the Commonwealth an amount of fiscal contribution (1998‑99 fiscal contribution) worked out in accordance with the applicable Schedule. (2) The Treasurer may deduct from a financial assistance grant to a State in relation to the grant year commencing on 1 July 1998:

(a) an amount that does not exceed the unpaid amount of the State’s 1998‑99 fiscal contribution; and

(b) if part of the State’s 1997‑98 fiscal contribution (within the meaning of section 15B) remained unpaid on 1 July 1998—an amount that does not exceed the unpaid amount of the State’s 1997‑98 fiscal contribution.

(3) An amount deducted under subsection (2) is taken to have been paid by the State to the Commonwealth in satisfaction of whichever of the following fiscal contributions is applicable:

(a) if the amount was deducted under paragraph (2)(a)—the State’s 1998‑99 fiscal contribution;

(b) if the amount was deducted under paragraph (2)(b)—the State’s 1997‑98 fiscal contribution.

(4) A reference in this section to an unpaid amount of a State’s fiscal contribution for a grant year does not include a reference to an amount taken (under this Act or any other Act) to have been paid by the State in satisfaction of the State’s fiscal contribution for the grant year.