(1)The Secretary of State may, in respect of the financial year 1993-94 and each subsequent financial year—
(a)make grants, (to be known as “revenue support grants”) to local authorities; and
(b)distribute among local authorities the money recovered by way of non-domestic rates (“non-domestic-rate income”) in that financial year.
(2)Schedule 12 to this Act has effect in relation to revenue support grant and the recovery and distribution of non-domestic rate income.