1998-2000

 

THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

 

HOUSE OF REPRESENTATIVES

 

 

 

 

 

 

 

 

HIGHER EDUCATION FUNDING AMENDMENT BILL (NO. 1) 2000

 

 

 

SUPPLEMENTARY EXPLANATORY MEMORANDUM

 

 

 

 

 

 

 

 

 

Amendments to be moved on behalf of the Government

 

 

 

 

 

 

 

 

 

 

 

(Circulated by authority of the Minister for Education, Training and Youth Affairs,

the Honourable Dr David Kemp MP)

 

 

 

 

 

 

 

 

 

HIGHER EDUCATION FUNDING AMENDMENT BILL (NO. 1) 2000

 

AMENDMENTS

 

 

OUTLINE

 

The Higher Education Funding Amendment Bill (No.1) 2000 (HEFAB) contains a number of amendments to the Higher Education Funding Act 1988 .

 

The amendments will vary the aggregate funding levels specified in HEFAB to reflect recent price movements. The funding levels specified in the HEFAB currently before Parliament were adjusted for price movements using the cost adjustment factor applying to the Budget estimates. The Treasury has since revised a component of the cost adjustment factor. The amendments will allow payments to institutions to be at the new funding levels from the year 2001.

 

 

FINANCIAL IMPACT

 

The amendment to the Bill will provide additional supplementation for price movements totalling $25.281 million in 2001 and $25.299 million in 2002.

HIGHER EDUCATION FUNDING AMENDMENT BILL (NO.1) 2000

 

 

NOTES ON CLAUSES

 

 

 

Clauses 1 to 14 amend items 3 to 8 and 11 to 18 to Schedule 1 of the Higher Education Funding Amendment Bill (No. 1) to allow adjustments to funding levels for 2001 and 2002 to reflect Treasury’s latest revision of the cost adjustment factor.