Bill
Future Drought Fund (Consequential Amendments) Bill 2019
passed, as at 2019-07-30. Finance portfolio.
- Sponsor
- Not recorded
- Portfolio
- Finance
Recorded stages
- introduced — 2019-07-22
- second reading — 2019-07-22
- second reading — 2019-07-22
- second reading — 2019-07-22
- third reading — 2019-07-22
- introduced — 2019-07-23
- second reading — 2019-07-23
- second reading — 2019-07-23
- second reading — 2019-07-24
- second reading — 2019-07-24
- committee — 2019-07-24
- third reading — 2019-07-24
- passed — 2019-07-24
- royal assent — 2019-07-30
Divisions
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2019-07-22.
This bill changes other laws so the Future Drought Fund can operate when it starts.
The Future Fund Board would be given extra duties to run the new fund and to shift money between it and several other funds for shared costs.
The bill closes the Building Australia Fund by removing those parts of the Nation-building Funds Act, and the new fund starts with the same balance that the closed fund had just before.
- Extends the Future Fund Board's role to manage the Future Drought Fund.
- Allows money to move between the Future Drought Fund and several other funds to fairly split common expenses.
- Closes the Building Australia Fund by repealing sections of the Nation-building Funds Act.
The Future Fund Board and the agencies that manage the affected funds.
Sources
em
billhome
frl act