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Business Rate Supplements Act 2009

Government Bill

Originated in the House of Commons, Session 2008-09

Last updated: 16 October 2009 at 12:37

See full passage

Long title

A Bill to confer power on the Greater London Authority and certain local authorities to impose a levy on non-domestic ratepayers to raise money for expenditure on projects expected to promote economic development; and for connected purposes.

Summary

The Bill will create a new power for upper tier local authorities in England and Wales to levy a local supplement on the business rate and to retain the proceeds for investment in that area.

Key areas:

  • Only the highest tier of local authority will be entitled to levy rates; in London the power will rest with the Greater London Authority
  • business rate supplement revenues must be spent on economic development
  • a national upper limit of 2p per £1 of rateable value will apply
  • stipulations are made for consultation with business and matters concerning the prospectus for each scheme
  • circumstances are specified in which a ballot will be required and provisions made for regulating such ballots
  • all properties with a rateable value of £50,000 or less will be exempt.

Sponsoring departments

Department for Communities and Local Government
Hazel Blears
Labour, Salford
Department for Communities and Local Government
Baroness Andrews
Labour, Life peer

Current version of the Bill

2 July 2009
Commons

Bill passage

Bill started in the House of Commons
1st reading
2nd reading
Committee stage
Report stage
3rd reading
Bill in the House of Lords
1st reading
2nd reading
Committee stage
Report stage
3rd reading
Final stages
Consideration of amendments
Royal Assent
Key
Complete
In progress
Not applicable
Not yet reached