Road Improvement (Special Funding) Amendment Act 1998 (NSW)

New South Wales

Road Improvement (Special Funding)

Amendment Act 1998 No 71

Contents

Page

1	Name of Act	2
2	Commencement	2
3	Amendment of Road Improvement (Special Funding)
Act 1989 No 95	2

Schedule 1 Amendments 3

New South Wales

Road Improvement (Special Funding)

Amendment Act l9 9 8 No 71

Act No 91, 1998

An Act to amend the Road Improvement (Special Funding) Act 1989 to continue special funding arrangements for road improvement, road safety and road related public transport infrastructure under the “ 3x3 program” . [Assented to 14 July 1998]

Section 1 Road Improvement (Special Funding) Amendment Act 1998 No 71

The Legislature of New South Wales enacts:

1 Name of Act

This Act is the Road Improvement (Special Funding) Amendment

Act 1998.

2 Commencement

This Act commences on a day or days to be appointed by proclamation.

3 Amendment of Road Improvement (Special Funding) Act 1989 No 95

The Road Improvement (Special Funding) Act 1989 is amended as set out in Schedule 1.

Road Improvement (Special Funding) Amendment Act 1998 No 71

Amendments Schedule 1

Schedule 1 Amendments

(Section 3 )

[1 ]        Long title

Omit the long title. Insert instead:

An Act to make provision with respect to special funding for road improvement, road safety and road related public transport infrastructure; and for other purposes.

[2 ]        Section 3 Definitions

Omit the definitions of Licensing Act and quarter.

[3 ]        Section 3A

Insert after section 3:

3A Standing appropriation of percentage of certain taxes

paid on petroleum products

( l ) There is appropriated by this section each financial year for payment out of the Consolidated Fund into the Roads Fund an amount equal to 44.5% of the net petroleum products revenue of the State during that financial year.

The net petroleum products revenue of the State during a financial year is the amount that the Treasurer determines has been paid. during that year, to the State by the Commonwealth under the States Grants (General Purposes) Act 1994 of the Commonwealth as revenue replacement payments for petroleum business franchise licence fees. less the amount that the Treasurer determines has been paid during that financial year by way of State petroleum subsidies.

Road Improvement (Special Funding) Amendment Act 1998 No 71

Schedule 1 Amendments

(3)

An amount appropriated by this section is to be rounded

to the nearest $1,000.

(4)

The appropriation made by this section extends to the period commencing 5 August 1997. The first financial year to which this section applies is taken to be the period commencing on 5 August 1997 and ending on 30 June 1998.

(5)

A determination made by the Treasurer for the purposes

of this section is conclusive.

(6) Payments to the Roads Fund in respect of an appropriation under this section are to be made in such instalments and at such times as the Treasurer determines. Any such payments may be made before the end of the financial year to which that appropriation relates, subject to any necessary adjustment at the end of that financial year.

(7)	In this section:
petroleum business franchise licence fees means the fees previously payable under the Business Franchise Licences (Petroleum Products) Act 1987.
State petroleum subsidies means subsidies paid under the Petroleum Products Subsidy Act 1997, including ex gratia payments generally of the nature authorised by that Act.

[4]        Section 4 Increased petroleum licence fees

Omit the section.

Road Improvement (Special Funding) Amendment Act 1998 No 71

Amendments Schedule 1

[5]        Section 5 Appropriated money subject to statutory trust for road funding

Omit section 5 (1). Insert instead:

(1) The amount paid into the Roads Fund under section 3A is subject to a statutory trust for the funding of road improvement, road safety and road related public transport infrastructure and must be used by the Authority accordingly.

[Minister's second reading speech made in—

Legislative Assembly on 16 June 1998

Legislative Council on 29 June 1998]