Federal-Provincial Fiscal Arrangements Act

Marginal note:Additional fiscal equalization payment

• 3.71 (1) An additional fiscal equalization payment for the period referred to in subsection (2) may be paid to Nova Scotia equal to the amount by which

  • (a) the aggregate of the following amounts:

    • (i) the aggregate of the fiscal equalization amounts computed under section 3.72 for that province for all fiscal years in the period, and

    • (ii) the aggregate of the amounts that would be paid to that province for all fiscal years in the period in accordance with sections 7 to 14 of the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act as that Act read on April 1, 2007, computed as if the fiscal equalization payment for that province for each fiscal year in the period were equal to the fiscal equalization amount computed under section 3.72 for that province for that fiscal year

  is greater than

  • (b) the aggregate of the following amounts:

    • (i) the aggregate of the fiscal equalization payments paid to that province for the period, and

    • (ii) the aggregate of the amounts paid to that province for the period in accordance with sections 7 to 14 of the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act.

• Marginal note:Definition of period

  (2) For the purpose of subsection (1), period means the period beginning on April 1, 2008 and ending on the earlier of

  • (a) March 31 of the fiscal year preceding the first fiscal year with respect to which Nova Scotia does not meet the conditions under paragraphs 12(1)(a) and (b) of the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act and is not receiving any transitional payments under section 14 of that Act, and

  • (b) March 31, 2020.