State Funding ContributionsState Funding Contributions

State Funding Contributions

4(15) The amounts of State funding contributions are to equal 48.95% of Base Funding to that State for each Grant Year of the Agreement. The total amount of State housing expenditure (as that term is defined in the Housing Assistance Act 1996) for a State for the 2008-09 financial year is the amount referred to in this subclause 4(15) in respect of Grant Year six plus any additional amount that the Commonwealth and that State subsequently agree that State will provide in respect of the second half of that financial year, whether under this Agreement or another agreement.

4(16) Funding contributions under this Agreement are to be provided by a State in each Grant Year in which Commonwealth Base Funding specified under subclauses 4(2), 4(6) and 4(6A)(a) is paid. The State contribution shall be by way of interest free, non-repayable Grants and shall be separately identified in State Budget documents or otherwise identified as agreed between the Minister and State Minister.

4(17) State contributions in a Grant Year will not include:

(a) funds which have been used to match funding provided by the Commonwealth otherwise than under this Agreement;

(b) funds paid in accordance with subclause 4(16) in a previous financial year except where a State has exceeded the required contribution, that excess may be carried forward and regarded as eligible State contribution in the following year;

(c) proceeds derived from the sale of housing and land, and other assets acquired under Previous Housing Arrangements and under this Agreement; and

(d) any assets covered by this Agreement or any income earned from the use of those assets;

States are not to include funds obtained and used in accordance with subclauses 4(19) and 4(19A) as part of the funding contributions made under subclause 4(15).