text_body: --- DIVISION TITLE ---
  
  Local Government Finance Bill - New Clause 2 - Safety Net Payment to Local Authorities - Major Redevelopmnet Areas
  
  --- MOTION EFFECT ---
  
  @ MP voted aye to set out what the Secretary of State must consider when deciding if to make a payment to a local authority in relation to the loss of business rate income due to a major redevelopment scheme.
  @ MP voted no against setting out what the Secretary of State must consider when deciding if to make a payment to a local authority in relation to the loss of business rate income due to a major redevelopment scheme.
  
  
  The majority of MPs voted against requiring the Secretary of State to consider the proportion of business rate income lost and the potential future social and economic benefits relating to a development scheme which results in a loss of business rate income for over a year when deciding if to make a "safety net" payment in relation to it. 
  
  The provisions in the Local Government Finance Bill for local retention of business rates include a "safety net" scheme, funded by a levy on business rates, designed to smooth out year to year variations in local authorities' business rate income. 
  
  MPs were considering the Local Government Finance Bill[1]. The proposed new clause which was rejected in this vote was:
  
  : Major redevelopment schemes: non-domestic rate income
  :â(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 toâ
  
  :(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.â.
  
  
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  * [1] [http://services.parliament.uk/bills/2012-13/localgovernmentfinance.html Parliament's webpage on the Local Government Finance Bill]
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  