Road Improvement (Special Funding) Act 1989 (NSW)

Road Improvement (Special Funding) Act 1989 No 95

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.

1 Name of Act This Act may be cited as the Road Improvement (Special Funding) Act 1989.

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

3 Definitions In this Act— financial year means a period of 12 months commencing on 1 July. Roads Fund means the TfNSW Fund established under the Transport Administration Act 1988.

3A Standing appropriation of percentage of certain taxes paid on petroleum products (1) 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. (2) 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. (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.