The attached exposure draft Bills and supporting explanatory materials are part of a Housing Legislative package, including 2 new Bills to establish the Housing Australia Future Fund and the National Housing Supply and Affordability Council, and an Amendment Bill to support the new legislation.
The community's views are sought on the Bills and Explanatory Material.
The Housing Australia Future Fund Bill and the National Housing Supply and Affordability Council Bill seek to give effect to 2 of the Government’s key election commitments in relation to housing – the establishment of the $10 billion Housing Australia Future Fund, and the establishment of the National Housing Supply and Affordability Council via legislation. The Treasury Laws Amendment (Housing Measures No. 1) Bill 2023 (Amendment Bill) gives effect to other components of the Government’s housing related election commitments, including renaming the National Housing Finance and Investment Corporation as Housing Australia and consequential amendments to the new Bills, as well as amendments to address a recommendation of the 2021 Review of the National Housing Finance and Investment Corporation Act 2018.
The Department of Finance has prepared the Explanatory Material for the Housing Australia Future Fund Bill and the consequential amendments in Schedule 4 of the Amendment Bill.