Governance and Investment Requirements for the Regional Development Trust Fund
Regional Development Amendment Bill 2024
1st House
2nd House
Law
Links to official parliament websites
Effects of this bill
If this bill passes, it means that:
The Minister can give grants, subsidies, loans, or payroll tax rebates to people for regional development
The Minister can require interest payments or set conditions on this financial assistance
The Regional Development Trust Fund can now accept voluntary contributions; it can also take money from government agencies
The Fund can pay for goods and services that support regional development
The Minister can invest Fund money using the same rules as the Government Sector Finance Act 2018
The Minister must publish a governance framework and an investment strategy on the Department website
The Minister must review the investment strategy at least every 2 years
The Minister can give financial assistance as grants, subsidies, loans, or payroll tax rebates
The Minister can require interest payments or other conditions for this assistance
The Regional Development Trust Fund can now be used to buy goods and services
The Minister must create and publish a governance framework and an investment strategy
The Minister must review the investment strategy every two years
The Minister must publish an annual report on the Fund by 30 November each year