F1SCHEDULE 7BLocal retention of non-domestic rates
Part 2Determination of the central and local share
Determination of the central and local share
4
The Secretary of State must, for each year and in relation to each billing authority in England, determine—
(a)
the percentage (“the central share”) that is to be the billing authority’s central share for the year for the purposes of Part 3 (payments to the Secretary of State in respect of the central share), and
(b)
the percentage (“the local share”) that is to be the billing authority’s local share for the year for the purposes of Part 4 (payments by billing authorities to major precepting authorities).
Local government finance reports
5
(1)
A determination under paragraph 4 must be specified in a report, to be called a “local government finance report”.
(2)
The Secretary of State must lay, or make arrangements for laying, the local government finance report before the House of Commons.
(3)
As soon as is reasonably practicable after a local government finance report is laid before the House of Commons, the Secretary of State must send a copy of the report to each relevant authority.