House of Representatives
Higher Education Funding Amendment Bill (No. 1) 2000
Replacement Explanatory Memorandum
(Circulated by authority of the Minister for Education, Training and Youth Affairs, the Honourable Dr David Kemp MP)
This Memorandum replaces the Explanatory Memorandum presented to the House of Representatives on 21 June 2000
Outline
The Higher Education Funding Act 1988 (HEFA) makes provision for grants of financial assistance to higher education institutions and other bodies for higher education purposes, establishes the Higher Education Contribution Scheme (HECS) and the Open Learning Deferred Payment Scheme (OLDPS) and make provision for the repayment of monies lent by the Commonwealth to students under those schemes.
The Bill amends HEFA to:
- •
- vary the maximum amount of financial assistance payable to higher education institutions for the funding year 2001 to reflect annual adjustment for price movements in respect of operating grants, superannuation expenditure, open learning organisations, teaching hospitals, special capital projects and certain grants;
- •
- set the maximum amount of financial assistance payable to higher education institutions for the funding year 2002 for the first time in respect of operating grants, superannuation expenditure, open learning organisations, teaching hospitals, special capital projects and certain grants;
- •
- vary the maximum funding amounts for university operating grants for funding years 1999, 2000 and 2001 to reflect revised Higher Education Contribution Scheme estimates;
- •
- vary the maximum funding amounts for certain grants (under s.23C) for funding years 1999, 2000, 2001 and 2002 to reflect the re-allocation of unspent funds from 1999;
- •
- provide additional funding of $1.446m in 2001 and $2.891m in 2002 for 100 new university places a year for medical students on bonded scholarships as announced in the 2000-01 Budget;
- •
- provide additional funding of $3.9m in each of 2001 and 2002 for the Research Infrastructure Equipment and Facilities Scheme as announced in the 2000-01 Budget;
- •
- provide additional funding of $12.81m in 2002 for the Strategic Partnerships with Industry - Research and Training Scheme as announced in the 2000-01 Budget;
- •
- reflect the name change of Batchelor College to the Batchelor Institute of Indigenous Tertiary Education;
- •
- amend the definition of year to which this Act applies.