475.1. The Minister shall also provide, in the budgetary rules referred to in section 472, for the payment of equalization grants to a school board on the island of Montréal equal to the amount obtained by subtracting the amount paid to the school board by the Comité de gestion de la taxe scolaire de l’île de Montréal under subparagraph 1 of the first paragraph of section 439 from the maximum yield of the school tax obtained, for the school board, by effecting the calculations set out in the second and third paragraphs of section 308.
For the purposes of this section, any amount that exceeds the amount per student referred to in section 308 that has been approved by a referendum or that a school board must submit to its electors for approval shall not be taken into account.
For the school years 2018-2019 and 2019-2020, See Transitional provision S.Q. 2018, c. 5, s. 87.