2013‑2014‑2015

The Parliament of the

Commonwealth of Australia

THE SENATE

Presented and read a first time

Charter of Budget Honesty Amendment (Intergenerational Report) Bill 2015

No.      , 2015

(Senator Milne)

A Bill for an Act to provide for the intergenerational report to be prepared by the Parliamentary Budget Office, and for related purposes

Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Schedules............................................................................................ 2

Schedule 1—Amendments                                                                                                3

Charter of Budget Honesty Act 1998                                                                       3

Parliamentary Service Act 1999                                                                               3

A Bill for an Act to provide for the intergenerational report to be prepared by the Parliamentary Budget Office, and for related purposes

The Parliament of Australia enacts:

1  Short title

                   This Act may be cited as the Charter of Budget Honesty Amendment (Intergenerational Report) Act 2015.

2  Commencement

                   This Act commences on the day after this Act receives the Royal Assent.

3  Schedules

                   Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Amendments

Charter of Budget Honesty Act 1998

1  At the end of subclause 2(4) of Schedule 1

Add:

Note:          The Parliamentary Budget Officer is responsible for preparing the intergenerational report, see section 64MD of the Parliamentary Service Act 1999.

2  Subclause 20(1) of Schedule 1

After “intergenerational report”, insert “, prepared by the Parliamentary Budget Officer,”.

3  At the end of subclause 20(1) of Schedule 1

Add:

Note:          The Parliamentary Budget Officer is responsible for preparing the intergenerational report, see section 64MD of the Parliamentary Service Act 1999.

Parliamentary Service Act 1999

4  After paragraph 64E(1)(da)

Insert:

                   (db)  to prepare intergenerational reports under section 64MD;

5  After section 64MC

Insert:

64MD  Intergenerational reports

             (1)  The Parliamentary Budget Officer must prepare an intergenerational report for the Treasurer every 5 years.

             (2)  The Parliamentary Budget Officer must prepare each report in time to allow the Treasurer to release and table the report within 5 years of the public release of the preceding report.

Note:          See clause 20 of Schedule 1 to the Charter of Budget Honesty Act 1998.

64ME  Commonwealth bodies to provide information to help prepare intergenerational report

             (1)  The Parliamentary Budget Officer may request a Commonwealth body to provide information relevant to the Parliamentary Budget Officer’s function of preparing intergenerational reports.

             (2)  A Commonwealth body must comply with a request in time to allow the information to be taken into account in the preparation of the intergenerational report, unless it is not practicable for the body to do so.

             (3)  Subsection (2) does not apply if providing the information would contravene another law of the Commonwealth.