New Zealand Acts

URBAN DEVELOPMENT ACT 2020 - SECT 199

199 Relevant territorial authority to retain and refund rates revenue if maximum is exceeded

A relevant territorial authority must—

a) retain any amount of revenue from a targeted rate under this Act that it collects or recovers in excess of the maximum amount of revenue that may be recovered from the rate (either generally or from a category of land) in a financial year; and

b) refund that amount in accordance with section 194 .