New Clause 2 — Major redevelopment schemes: non-domestic rate income

Part of Housing (Amendment) – in the House of Commons at 8:48 pm on 24th January 2012.

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‘(1) In any case where a relevant authority proposes a major redevelopment scheme resulting in a substantial loss of non-domestic rate income for a period exceeding one year, the authority may make an application to the Secretary of State for a safety-net payment to be made to the authority each year for the period of the scheme. The Secretary of State must determine whether to make such a payment having regard to—

(a) the proportion of non-domestic rate income which will be lost to the authority for the period of the scheme, and

(b) the future social and economic benefits of the scheme.

(2) The Secretary of State must notify the authority of his or her decision on whether or not to grant a safety-net payment and allow the authority 28 days to make representations about his or her decision before issuing a final determination.’.—(Helen Jones.)

Brought up, and read the First time.

Question put, That the clause be read a Second time.

The Committee proceeded to a Division.