There's something here but it needs some subscription...
http://accessvbsql.advisor.com/doc/10945
Search query I used (google):
http://www.google.com.br/search?q=%28%22visual+basic%22+OR+vb%29+%22local+error%22+%22on+error%22
Now that's something interesting... from http://en.wikibooks.org/wiki/Programming:Visual_Basic#Error_Checking:
Private Sub Form_Load()
On Error GoTo Label1
i = 1 / 0
Exit Sub
Label1:
MsgBox "Error Number " & Err.Number & ":" & Err.Description
End Sub
The above example is the safest way of detecting and handling any error that takes place in the subroutine. However you can also choose to ignore errors by using "On Error Resume Next" and watch for errors in a certain line of code by using "On Local Error ..."
Hey wait, I found another one From http://www.mrexcel.com/archive2/44000/51072.htm:
"Apparently there is no difference. The Local keyword is a holdover from earlier versions to make it easier to upgrade code. It is ignored in VB."