STATES GRANTS (ADDITIONAL TAX REIMBURSEMENT).

No. 25 of 1950.

An Act to grant and apply out of the Consolidated Revenue Fund a sum for the purpose of Financial Assistance to the States.

[Assented to 20th November, 1950.]

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, for the purpose of appropriating the grant originated in the House of Representatives, as follows:—

Short title.

1. This Act may be cited as the States Grants (Additional Tax Reimbursement) Act 1950.

Commencement.

2. This Act shall come into operation on the date on which it receives the Royal Assent.

Payment of financial assistance to the States.

3. There shall be payable to the States, during the year ending on the thirtieth day of June, One thousand nine hundred and fifty-one, for the purpose of financial assistance, the sum of Five million pounds.

Allocation of grant.

4. The sum payable to the States under the last preceding section shall be divided amongst the States in the proportions in which, under section seven of the States Grants (Tax Reimbursement) Act 1946–1948, the aggregate grant referred to in that section is divisible amongst the States for the year ending on the thirtieth day of June, One thousand nine hundred and fifty-one.

Appropriation.

5. Payments in accordance with this Act shall be made out of the Consolidated Revenue Fund, which is; to the necessary extent, hereby appropriated accordingly.