Draft bill released on housing finance entity

by Manuelita Contreras16 Jan 2018
A draft bill proposing to establish the National Housing Finance and Investment Corporation (NHFIC) has been released for consultation.

The exposure draft was released yesterday by acting Treasurer Kelly O'Dwyer.

Aimed at improving housing outcomes for Australians, the proposed corporate entity is scheduled to start operations in July 2018. It is part of the government's plan, Reducing Pressure on Housing Affordability, announced in the 2017-18 budget.

The NHFIC will have broad functions, including the administration of a $1bn National Housing Infrastructure Facility (NHIF) to help finance critical infrastructure to increase available housing, particularly affordable housing. 

It will also administer an affordable housing bond aggregator, to improve the efficiency of financing for community housing providers.

The proposed design features of the NHFIC have gone through consultation, including a consultation paper in September-October 2017 and roundtables in each state and territory.

Comments on the draft bill can be made by 22 January 2018.

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