Bill
Treasury Laws Amendment (2021 Measures No. 3) Bill 2021
passed, as at 2021-06-29. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2021-05-13
- second reading — 2021-05-13
- second reading — 2021-05-26
- second reading — 2021-05-27
- second reading — 2021-05-27
- third reading — 2021-05-27
- introduced — 2021-06-15
- second reading — 2021-06-15
- second reading — 2021-06-22
- second reading — 2021-06-22
- committee — 2021-06-22
- third reading — 2021-06-22
- passed — 2021-06-22
- royal assent — 2021-06-29
Divisions
- The majority voted in favour of *disagreeing* with a [motion](https://www.openaustralia.org.au/debate/?id=2021-05-26.123.1) "*That the Member [Bowman MP Andrew Laming] be no further heard.* This means that [Mr Laming](https://theyvoteforyou.org.au/people/representatives/bowman/andrew_laming) can continue to speak in this debate. — 2021-05-26, House of Representatives: affirmative, ayes 76, noes 63
- The majority voted in favour of a [motion](https://www.openaustralia.org.au/debate/?id=2021-05-27.23.9) "*that the words proposed to be omitted stand part of the question.*" In other words, they voted to keep the usual [second reading motion](https://peo.gov.au/understand-our-parliament/how-parliament-works/bills-and-laws/making-a-law-in-the-australian-parliament/) unchanged. A second reading motion is "*that the bill be read a second time,*" which is parliamentary jargon for agreeing with the main idea of the bill. — 2021-05-27, House of Representatives: affirmative, ayes 75, noes 73
- The majority voted against an [amendment](https://www.openaustralia.org.au/senate/?id=2021-06-22.252.1) introduced by Tasmanian Senator [Nick McKim](https://theyvoteforyou.org.au/people/senate/tasmania/nick_mckim), which means it failed. Senator McKim explained the [purpose of this amendment](https://www.openaustralia.org.au/senate/?gid=2021-06-22.249.1): > *This amendment would establish in legislation, rather than leaving it to regulation, a minimum deposit requirement for the purchaser for all loans guaranteed by the National Housing Finance and Investment Corporation. This amendment would set the minimum deposit requirement at five per cent, which is the current level set under the First Home Loan Deposit Scheme. Loans issued with less than a five per cent deposit are also tracked by APRA as an indicator of high-risk lending. By the prudential regulator's own measure, the Family Home Guarantee as proposed by the government, requiring a mere two per cent deposit for single parents, will encourage and increase higher risk spending.* ### Amendment text > *(1) Schedule 2, page 5 (after line 8), at the end of the Schedule, add:* > > *2 At the end of section 51* > > *Add:* > > *Limit on guarantee* > > *(4) The Commonwealth must not guarantee a loan for which the deposit paid by the borrower or borrowers is less than 5 per cent of the value of the residential property.* — 2021-06-22, Senate: negative, ayes 10, noes 27
Plain-language summary
No machine-written summary in this export.
Sources
em
billhome
frl act