Future Ireland Fund and Infrastructure, Climate and Nature Fund Act 2024
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Payments into FI Fund where deterioration in economic or fiscal position of State | ||
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9. (1) Where, in any of the years 2024 to 2034, the Minister, having carried out an assessment in accordance with section 26 (1), is of the opinion— | ||
(a) that there has been, or is likely to be in the subsequent year, a deterioration in the economic or fiscal position of the State, and | ||
(b) it would not be appropriate to make the payment into the FI Fund under section 8 (1) in the subsequent year, | ||
the Minister may, after consultation with the Minister for Public Expenditure, National Development Plan Delivery and Reform, make a recommendation to the Government that the payment into the FI Fund from the Central Fund or the growing produce thereof, in that subsequent year, should be reduced to a sum equivalent to 0.4 per cent of relevant GDP in relation to that subsequent year. | ||
(2) Where, in a given year, the Government approve a recommendation made to them under subsection (1), Dáil Éireann may, on a proposal by the Minister brought before that House not later than 31 October in that year, pass a resolution authorising the Minister to pay into the FI Fund from the Central Fund or the growing produce thereof, in the subsequent year, a specified sum equivalent to 0.4 per cent of relevant GDP in relation to that subsequent year. | ||
(3) Where Dáil Éireann passes a resolution under subsection (2), the Minister shall, in the year subsequent to the year in which the resolution is passed— | ||
(a) not make a payment into the FI Fund under section 8 (1), and | ||
(b) pay into the FI Fund, from the Central Fund or the growing produce thereof, the sum specified in the resolution. | ||
(4) Without prejudice to subsection (1), where, in any of the years 2024 to 2034, the Minister, having carried out an assessment in accordance with section 26 (1), is of the opinion— | ||
(a) that there has been, or is likely to be in the subsequent year, a deterioration in the economic or fiscal position of the State, and | ||
(b) the deterioration, or likely deterioration, is of such significance that it would not be appropriate to make any payment into the FI Fund from the Central Fund or the growing produce thereof in the subsequent year, | ||
the Minister may, after consultation with the Minister for Public Expenditure, National Development Plan Delivery and Reform, make a recommendation to the Government that no such payment be made in that subsequent year. | ||
(5) Where, in a given year, the Government approve a recommendation made to them under subsection (4), Dáil Éireann may, on a proposal by the Minister brought before that House not later than 31 October in that year, pass a resolution authorising the Minister not to make any payment into the FI Fund from the Central Fund or the growing produce thereof in the subsequent year. | ||
(6) Where Dáil Éireann passes a resolution under subsection (5), the Minister shall not make any payment into the FI Fund from the Central Fund or the growing produce thereof in the year subsequent to the year in which the resolution is passed. |