Amendment status not verified — confirm the current text below against the official source.
Nothing in this Act shall affect the Local Authorities Loans of 1914. 1 . Act, 1914. Finance 'L68-A. ( I ) The Finance Commission constituted by the State Government under article 243 1 of the Constitution of India shall review the financial position of the municipdities and make recommendations to '. the Government as to,- (&) the principles w hich-s h'~uld'~overn- (i) the distri butjon ktween the State and t&rnunicipaliries of the rate prkeeds of the taxes, duties tools and fees leviable by the State, which may be divided between them and ihe allocation, the municipalities at all levels of their respective shalres of such proceeds ;