Northern Australia Infrastructure Facility Amendment (Extension and Other Measures) Bill 2021

The majority voted against amendments introduced by the Australian Labor Party, which means they failed. The amendments related to a limit on on the investment mandate that required the minister to consider the objects of the bill, including a new object:

to encourage the provision of such financial assistance in relation to Northern Australia economic infrastructure that contributes to Australia’s achievement of net zero emissions by 2050

Because this vote was unsuccessful, this requirement and new object will not be included in the bill.

What does the bill do?

According to the bills digest, the bill was introduced in order to:

• extend the period when the Northern Australia Infrastructure Facility (the Facility) can issue financial assistance
• expand who the Facility can give assistance to, and how it provides this assistance
• add the Finance Minister as a responsible minister for the Facility and
• change some governance arrangements in relation to the Facility.

Currently, the purpose of the Facility is:

...to provide financial assistance to the states and territories for the construction of economic infrastructure in Northern Australia. It does this through providing concessional loans and guarantees.