1. That a levy, to be called betterment levy, shall be imposed in respect of land; and that it is expedient—
(a) to make provision as to the rate at which betterment levy is to be charged and as to the value or other amount on which it is to be charged, and
(b) in other respects to make provision for the assessment and payment of betterment levy, including provision for the payment of interest on the principal amount of the levy.
2. That, for the purposes of any Act of the present Session to provide for the establishment of a Land Commission, to make provision as to the finances of the Commission and to confer on the Commission powers to acquire, manage and dispose of land, to impose a betterment levy in respect of land, and for other purposes, it is expedient to authorise the payment into the Exchequer of sums required to be so paid by virtue of that Act.