A Bill for an Act to amend the National Housing Finance and Investment Corporation Act 2018, and for related purposes
The Parliament of Australia enacts:
1 Short title
This Act is the National Housing Finance and Investment Corporation Amendment (Unlocking Regional Housing) Act 2023.
2 Commencement
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
| Commencement information |
| Column 1 | Column 2 | Column 3 |
| Provisions | Commencement | Date/Details |
| 1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table | The day this Act receives the Royal Assent. | |
| 2. Schedule 1 | The day after this Act receives the Royal Assent | |
| 3. Schedule 2 | The later of: (a) immediately after the commencement of the provisions covered by table item 2; and (b) immediately after the commencement of Part 1 of Schedule 2 to the Treasury Laws Amendment (Housing Measures No. 1) Act 2023. However, the provisions do not commence at all if the event mentioned in paragraph (b) does not occur. | |
Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.
(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
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Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.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—Main amendments
National Housing Finance and Investment Corporation Act 2018
Note: This Schedule amends the National Housing Finance and Investment Corporation Act 2018. If, at or before the commencement of this Schedule, another Act amends that short title, then references in this Schedule to that short title are instead references to that short title as amended by the other Act (see section 10 of the Acts Interpretation Act 1901).
1 Paragraph 3(c)
Omit all the words after “that complement,”, substitute:
leverage or support activities of any of the following that relate to housing:
(i) the Commonwealth;
(ii) a State or Territory;
(iii) a local governing body;
(iv) a government‑owned utility provider; and
2 After paragraph 3(c)
Insert:
(ca) providing finance, grants or investments that support the provision of housing‑enabling infrastructure, including for housing in regional, rural or remote Australia; and
3 Section 5
Insert:
government‑owned utility provider means a utility provider that:
(a) is owned by a State or Territory; and
(b) if owned by a State—either forms part of the State or is a corporation to which paragraph 51(xx) of the Constitution applies.
housing‑enabling infrastructure means:
(a) critical infrastructure to support new housing (particularly new social or affordable housing), including new or upgraded infrastructure for services such as:
(i) water or sewerage; or
(ii) electricity or telecommunications; or
(iii) transportation (for example, gutters, kerbs, footpaths and roads); or
(b) site remediation works relating to new housing (particularly new social or affordable housing), including the removal of hazardous waste or contamination.
local governing body has the same meaning as in the Local Government (Financial Assistance) Act 1995.
regional, rural or remote Australia means the following areas:
(a) inner regional Australia;
(b) outer regional Australia;
(c) remote Australia;
(d) very remote Australia;
as defined in the document titled “Australian Statistical Geography Standard (ASGS): Volume 5—Remoteness Structure, July 2016”, published by the Australian Statistician, as amended from time to time.
Note: This Standard could in 2023 be viewed on the ABS website (https://www.abs.gov.au).
4 After paragraph 8(1)(d)
Insert:
(da) to proactively:
(i) promote the functions conferred by this section; and
(ii) identify projects that could benefit from loans, investments or grants covered by this section; and
(iii) assist project proponents to apply for loans, investments or grants covered by this section; and
(db) to give the Minister quarterly updates on:
(i) the provision of loans, investments or grants covered by this section; and
(ii) projects for which applications for such loans, investments or grants are pending; and
5 At the end of subsection 8(1)
Add:
Note: The Minister must table each quarterly report received under paragraph (db) in each House of the Parliament (see section 56A).
6 At the end of section 8
Add:
Providing appropriate ongoing support to regional, rural or remote Australia—safeguard
(4) As soon as practicable after this subsection commences, the Minister must scrutinise the action that needs to be taken to ensure that, in each financial year, regional, rural or remote Australia receives at least 30% of the total value of the support the NHFIC provides under this Act in that financial year.
Note: The Minister must report on this (see section 56B).
(5) For the purposes of subsection (4):
action includes amending this Act, an instrument under this Act, or any other law.
support includes:
(a) loans, investments, grants and guarantees; and
(b) financial assistance to States and Territories; and
(c) financial assistance to local governing bodies through grants of financial assistance to States and Territories; and
(d) financial assistance to government‑owned utility providers through grants of financial assistance to States and Territories.
Note: For paragraph (c) or (d), a term or condition for a grant of financial assistance to a State or Territory may be that the State or Territory give financial assistance to local governing bodies or government‑owned utility providers.
7 After subparagraph 13(b)(ii)
Insert:
(iiaa) granting financial assistance to local governing bodies through granting financial assistance to States and Territories;
(iiab) granting financial assistance to government‑owned utility providers through granting financial assistance to States and Territories;
8 At the end of paragraph 13(c)
Add:
(iv) granting financial assistance to local governing bodies through granting financial assistance to States and Territories;
(v) granting financial assistance to government‑owned utility providers through granting financial assistance to States and Territories;
9 At the end of section 13
Add:
Note: For subparagraph (b)(iiaa) or (iiab), or (c)(iv) or (v), a term or condition for a grant of financial assistance to a State or Territory may be that the State or Territory give financial assistance to local governing bodies or government‑owned utility providers.
10 Section 14
Before “The Minister”, insert “(1)”.
11 At the end of section 14
Add:
(2) The Minister must:
(a) within 90 days after this subsection commences, prepare a report that explains:
(i) why paragraph 21A(1)(c) of the National Housing Finance and Investment Corporation Investment Mandate Direction 2018 is necessary; and
(ii) how that paragraph is consistent with the object of this Act; and
(b) cause a copy of the report to be tabled in each House of the Parliament on or before the first sitting day of that House after the end of those 90 days.
Note: That paragraph of the Investment Mandate provides that housing‑enabling infrastructure projects cannot provide for community infrastructure, such as parks, day‑care centres or libraries.
12 After paragraph 18(2)(e)
Insert:
(ea) housing needs in regional, rural or remote Australia;
13 At the end of subsection 18(3)
Add:
; and (c) at least one Board member has appropriate qualifications, skills or experience in housing needs in regional, rural or remote Australia.
14 After subparagraph 56(b)(i)
Insert:
(ia) how that amount was distributed, including setting out the portion of that amount distributed to each State and Territory, to each local governing body, and to each area of regional, rural or remote Australia; and
15 At the end of section 56 (before the note)
Add:
; (d) a summary of how the functions conferred by paragraph 8(1)(da) (about proactively informing, identifying and assisting possible project proponents) have been performed during the period;
(e) an explanation of any risks that the content of the Investment Mandate poses to the successful performance of the functions set out in subsection 8(1);
(f) a summary that sets out:
(i) the number of applications received by the NHFIC during the period that included seeking financial support for community infrastructure, such as parks, day‑care centres or libraries; and
(ii) whether the NHFIC refused to provide any of that financial support because of paragraph 21A(1)(c) of the National Housing Finance and Investment Corporation Investment Mandate Direction 2018; and
(iii) the impact of those refusals on the operations of the NHFIC.
16 Section 56 (note)
Repeal the note, substitute:
Note 1: For subparagraph (b)(ia), the areas of regional, rural or remote Australia are the areas listed in the definition of regional, rural or remote Australia in section 5 and defined in the ABS Standard mentioned in that definition.
Note 2: For subparagraph (f)(ii), that paragraph of the Investment Mandate provides that housing‑enabling infrastructure projects cannot provide for community infrastructure, such as parks, day‑care centres or libraries.
Note 3: Section 46 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare annual reports.
17 After section 56
56A Quarterly updates given to the Minister
The Minister must cause a copy of each update described in paragraph 8(1)(db) to be tabled in each House of the Parliament within 15 sitting days of that House after the update is given to the Minister.
56B Reports about action to ensure that regional, rural or remote Australia receives appropriate ongoing support
(1) Within 90 days after this section commences, the Minister must prepare a report on:
(a) what the Minister has done, or plans to do, to ensure the result mentioned in subsection 8(4); or
(b) if the Minister has not done, and does not plan to do, anything—the Minister’s reasons for this.
(2) The Minister must cause a copy of the report to be tabled in each House of the Parliament on or before the first sitting day of that House after the end of those 90 days.
18 After section 57A
Insert:
57AA Review of financing function
(1) The Minister must cause a review of the NHIF (within the meaning of the National Housing Finance and Investment Corporation Investment Mandate Direction 2018) to be commenced within 3 months after the end of:
(a) the period beginning on the day this section commences and ending 12 months after that day; and
(b) each subsequent 12 month period.
(2) The persons undertaking the review must give the Minister a written report of the review within 3 months of the commencement of the review.
(3) The Minister must cause a copy of the report to be tabled in each House of the Parliament within 15 sitting days of that House after the report is given to the Minister.
Schedule 2—Contingent amendments
Housing Australia Act 2018
1 Paragraphs 8(1)(da) and (db)
Omit “loans, investments or grants” (wherever occurring), substitute “loans or grants”.
2 Subsection 8(4)
Omit “the NHFIC”, substitute “Housing Australia”.
3 Paragraph 8(5)(a)
Omit “loans, investments, grants and guarantees”, substitute “loans, grants and guarantees”.
4 Subparagraph 56(b)(ii)
Omit “Commonwealth.”, substitute “Commonwealth;”.
5 Paragraph 56(d)
Omit “; (d)”, substitute “(d)”.
6 Paragraph 56(f)
Omit “the NHFIC” (wherever occurring), substitute “Housing Australia”.
7 Section 57AA
Repeal the section.