Tax revenue
 67. (1) The tax revenue for the current fiscal year is determined as follows: 1. Add, i. 38 per cent of the sum of, A. the total of the amounts distributed to the board in respect of the 2019 calendar year under subsections 237 (12) and 238 (2), section 239, subsection 240 (5), sections 250 and 251 and subsections 257.8 (2) and 257.9 (1) of the Act, under sections 447.20 and 447.52 of the Municipal Act, as made applicable by section 474 of the Municipal Act, 2001, under subsections 364 (22) and 365.2 (16) of the Municipal Act, 2001 and under subsections 331 (22) and 334 (14) of the City of Toronto Act, 2006, B. the amounts, if any, referred to in subsection 364 (22) of the Municipal Act, 2001, as made applicable by section 257.12.3 of the Education Act, that are paid to the board in respect of the 2019 calendar year, C. the total of all amounts, if any, received by the board in respect of the 2019 calendar year from a municipality under subsections 353 (4), (4.1) and 366 (3) of the Municipal Act, 2001, or under subsections 318 (4), (4.1) and 336 (3) of the City of Toronto Act, 2006, D. the payments in lieu of taxes distributed to the board in respect of the 2019 calendar year under subsection 322 (1) of the Municipal Act, 2001, or under subsection 284 (1) of the City of Toronto Act, 2006, E. the grants, if any, made to the board in respect of the 2019 calendar year under subsection 302 (2) of the Municipal Act, 2001, or under subsection 238 (2) of the City of Toronto Act, 2006, and F. the amounts, if any, paid to the board in respect of the 2019 calendar year under subsections 9 (2) and (4) of the Tax Incentive Zones Act (Pilot Projects), 2002, ii. 62 per cent of the sum of, A. the total of the amounts distributed to the board in respect of the 2020 calendar year under subsections 237 (12) and 238 (2), section 239, subsection 240 (5), sections 250 and 251 and subsections 257.8 (2) and 257.9 (1) of the Act, under sections 447.20 and 447.52 of the Municipal Act, as made applicable by section 474 of the Municipal Act, 2001, under subsections 364 (22) and 365.2 (16) of the Municipal Act, 2001 and under subsections 331 (22) and 334 (14) of the City of Toronto Act, 2006, B. the amounts, if any, referred to in subsection 364 (22) of the Municipal Act, 2001, as made applicable by section 257.12.3 of the Education Act, that are paid to the board in respect of the 2020 calendar year, C. the total of all amounts, if any, received by the board in respect of the 2020 calendar year from a municipality under subsections 353 (4), (4.1) and 366 (3) of the Municipal Act, 2001, or under subsections 318 (4), (4.1) and 336 (3) of the City of Toronto Act, 2006, D. the payments in lieu of taxes distributed to the board in respect of the 2020 calendar year under subsection 322 (1) of the Municipal Act, 2001, or under subsection 284 (1) of the City of Toronto Act, 2006, E. the grants, if any, made to the board in respect of the 2020 calendar year under subsection 302 (2) of the Municipal Act, 2001, or under subsection 238 (2) of the City of Toronto Act, 2006, and F. the amounts, if any, paid to the board in respect of the 2020 calendar year under subsections 9 (2) and (4) of the Tax Incentive Zones Act (Pilot Projects), 2002, iii. the total of the taxes received by the board in respect of the 2019 calendar year under section 35 of the Assessment Act,
and iv. the total of payments received by the board in the current fiscal year out of the proceeds of dispositions of forfeited corporate property under section 33 of the Forfeited Corporate Property Act, 2015. 2. Calculate the difference between the following amounts and deduct that difference if the amount described in subparagraph i is less than the amount described in subparagraph ii or add that difference if the amount described in subparagraph i is more than the amount described in subparagraph ii: i. The amount that was determined under subparagraph 1 ii of subsection 68 (1) of the 2018-2019 grant regulation for the purposes of calculating the amount payable to the board as its legislative grant in respect of the 2018-2019 fiscal year. ii. The amount that would have been determined under subparagraph 1 ii of subsection 68 (1) of the 2018-2019 grant regulation if that amount had been determined on the basis of the board’s annual financial statements as reported to the Ministry for the 2018-2019 fiscal year. 3. Deduct the following costs for which the board is responsible under the Municipal Elections Act, 1996 that are incurred in the current fiscal year: i. Any costs that the board is required to pay under the Municipal Elections Act, 1996 in respect of conducting elections of members in territory without municipal organization that is deemed to be a district municipality for the purpose of clause 257.12 (3) (a) of the Education Act, but not including costs described in subparagraph ii, iii, iv or v. ii. Any costs that the board is required to pay under subsection 7 (4) of the Municipal Elections Act, 1996 in respect of recounts held under clause 56 (1) (a) or section 58 or 63 of that Act. iii. Any costs that the board is required to pay under subsection 7 (4) of the Municipal Elections Act, 1996 in respect of by-elections conducted in the circumstances described in subparagraphs 1 i, iv, v and vi of subsection 65 (4) of that Act, or in respect of recounts in such by-elections. iv. Any costs that the board is required to pay under subsection 88.33 (16) of the Municipal Elections Act, 1996 in respect of compliance audits. v. Any costs that the board is required to pay under subsection 88.37 (7) of the Municipal Elections Act, 1996 in respect of the compliance audit committee. 4. Deduct the amounts charged to the board in the 2019 calendar year by a municipal council under section 353 of the Municipal Act, 2001, or under section 318 of the City of Toronto Act, 2006, including amounts charged under those sections as a result of private legislation. 5. Deduct 38 per cent of the total of the amounts, if any, paid by the board in respect of the 2019 calendar year under subsections 361 (7), 364 (11), 365 (3) to (5), 365.1 (13) to (15) and 365.2 (8) of the Municipal Act, 2001 or under subsections 329 (6), 331 (11), 332 (2), 333 (14) and 334 (6) of the City of Toronto Act, 2006. 6. Deduct 62 per cent of the total of the amounts, if any, paid by the board in respect of the 2020 calendar year under subsections 361 (7), 364 (11), 365 (3) to (5), 365.1 (13) to (15) and 365.2 (8) of the Municipal Act, 2001 or under subsections 329 (6), 331 (11), 332 (2), 333 (14) and 334 (6) of the City of Toronto Act, 2006. (2) For the purposes of determining the tax revenue for the current fiscal year, the following rules apply: 1. All amounts, if any, paid by the Minister to the board in respect of the 2019 calendar year under subsection 257.11 (14) or (15) of the Act are deemed to be amounts distributed to the board in respect of the 2019 calendar year under a provision of the Act referred to in sub-subparagraph 1 i A of subsection (1). 2. All amounts, if any, paid by the Minister to the board in respect of the 2020 calendar year under subsection 257.11 (14) or (15) of the Act are deemed to be amounts distributed to the board in respect of the 2020 calendar year under a provision of the Act referred to in sub-subparagraph 1 ii A of subsection (1). Rules re Spending