41Overall levy target amount

#### 41 Overall levy target amount General rule (1) For the purposes of this Act, the overall levy target amount for an eligible levy period (other than the first eligible levy period) is the sum of: (a) the total amount paid by the Secretary on behalf of the Commonwealth during the period under contracts made under section 14; and (b) the total amount paid by the Secretary on behalf of the Commonwealth during the period by way of grants made under section 14; and (c) the total amount of the eligible administrative costs of the Commonwealth incurred during the period; reduced by the total of the amounts appropriated by Appropriation Acts for the purposes of: (d) making payments under section 14 contracts during the period; and (e) making section 14 grants during the period; and (f) the eligible administrative costs of the Commonwealth in relation to the period. > Note 1: The first eligible levy period is the 2014‑15 financial year (see section 5). > Note 2: See also subsections 61(3) and (4) (set‑off). First eligible levy period (2) For the purposes of this Act, the overall levy target amount for the first eligible levy period is the amount that would have been the overall levy target amount (within the meaning of section 88 of the repealed Telecommunications Universal Service Management Agency Act 2012) for the eligible levy period (within the meaning of that section) that began on 1 July 2014 if the 2014‑15 financial year were treated as an eligible levy period for the purposes of that section.