This exposure draft Bill gives effect to the Government’s 2017/18 Budget commitment to establish the National Housing Finance and Investment Corporation (NHFIC) to improve housing outcomes for Australians.
Key aspects of the Bill are:
- The NHFIC will be established as a corporate Commonwealth entity, governed by an independent, skills-based part-time Board.
- The NHFIC, which will be a financial intermediary, will have broad functions which will enable it to administer the programs announced by the Government:
- a $1 billion National Housing Infrastructure Facility (NHIF) which will help to finance critical infrastructure to increase the stock of housing, particularly affordable housing; and
- an affordable housing bond aggregator which will improve the efficiency of financing for community housing providers, enabling them to improve housing outcomes for their clients.
- The Government will issue an Investment Mandate to sit alongside the Bill that will outline its expectations about the performance of the NHFIC’s functions, including decision-making criteria and risk and return on investments.
- Liabilities of the NHFIC will be guaranteed by the Commonwealth.
- The Bill outlines the functions and powers of the NHFIC and its Board and Chief Executive Officer and provides the capacity for the Board to establish committees to assist it.
- The operation of the Bill will be reviewed three years after its commencement.
You can submit responses to this consultation up until 22 January 2018.
Interested parties are invited to comment on this consultation.
While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.
All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.
Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.
How to respond
Address written submissions to:
Social Policy Division
PARKES ACT 2600