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Treasury Laws Amendment (Housing Measures No. 1)

Current status

This bill did not become law and is no longer proceeding.

Policy area

Budget, tax & economy

What does this bill do?

Renames the National Housing Finance and Investment CorporationThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. as Housing AustraliaThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. so the same body keeps operating under a broader housing role.

Why was it introduced?

Housing AustraliaThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. needed a broader role to respond to urgent housing needs, and the Commonwealth guaranteeThe federal government's backing of Housing Australia bonds, which lowers risk for lenders and helps keep finance cheaper. for its bond programDebt issued by the agency to raise money for housing finance, with the Commonwealth guarantee helping make it attractive to investors. was due to end in 2023, risking certainty for low-cost finance. This bill renames the agency, expands its powers to fund and monitor social and affordable housingHomes aimed at people on low or moderate incomes, which is the main policy target of the bill., strengthens boardThe group that oversees Housing Australia, which the bill would enlarge by two members and give wider skills requirements. expertise, and extends the guarantee to 30 June 2028.

Broader context

Australia already had the National Housing Finance and Investment CorporationThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. providing government-backed low-cost finance for housing, but Labor’s October 2022-23 budget commitments and the looming 2023 end date for the Commonwealth guaranteeThe federal government's backing of Housing Australia bonds, which lowers risk for lenders and helps keep finance cheaper. on its bonds created pressure to recast the agency for a bigger social and affordable housingHomes aimed at people on low or moderate incomes, which is the main policy target of the bill. role. After TreasuryThe federal department that prepared the draft laws and consultation material before the bill was introduced. released exposure draftA draft version of the proposed law released for public consultation before Parliament considers the final bill. materials in December 2022, the government introduced this bill in August 2023 as part of its housing package to rename the body Housing AustraliaThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing., extend the guarantee to 30 June 2028 and align it with the Housing Australia Future FundA new federal funding source linked to the wider housing package that is meant to help pay for grants and loans for urgent housing needs., but the bill later lapsed at the March 2025 dissolutionThe point when Parliament ends for an election, at which time this bill lapsed and stopped proceeding..

Key criticism

The main criticism was not about the bill’s housing goal but whether these machinery changes would translate into enough viable projects and investment to actually deliver more affordable homes. That reservation appeared mainly in industry commentary saying outcomes depended on the scheme’s detailed settings, while no party represented in the supplied debate opposed the bill.

Who supported it?

Hon Julie Collins MPThe minister who is described as speaking in support of the bill and explaining why the government backed it. introduced this bill. Speeches supporting it came from Labor.

Introduced in House 02 Aug 2023
Failed in House 28 Mar 2025
Did not reach Senate —
Did not become law —

Did it become law?

No

The bill did not complete passage through Parliament.

Final passage

No final passage

The bill has not completed passage and is no longer proceeding.

Time before failure

604 days

From introduction to the final recorded step before the bill stopped proceeding

Official record

View on APH

Parliament of Australia bill page

Meaning

What does this bill do?

  1. Renames the National Housing Finance and Investment CorporationThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. as Housing AustraliaThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. so the same body keeps operating under a broader housing role.

  2. Gives Housing AustraliaThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. a bigger role in delivering social and affordable housingHomes aimed at people on low or moderate incomes, which is the main policy target of the bill., including using Housing Australia Future FundA new federal funding source linked to the wider housing package that is meant to help pay for grants and loans for urgent housing needs. money for grants and loans linked to urgent housing needs.

  3. Adds yearly checks on the National Housing Infrastructure FacilityA federal funding facility that the bill would have required to be checked each year to see whether it is helping lift housing supply. so the government can track whether it is lifting the supply of social and affordable homes.

  4. Increases the Housing AustraliaThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. boardThe group that oversees Housing Australia, which the bill would enlarge by two members and give wider skills requirements. by two members and adds expertise in Aboriginal and Torres Strait Islander housingHousing for First Nations people, which the bill says should be reflected in the expertise sought for Housing Australia board appointments. to the skills looked for in boardThe group that oversees Housing Australia, which the bill would enlarge by two members and give wider skills requirements. appointments.

  5. Extends the Commonwealth guaranteeThe federal government's backing of Housing Australia bonds, which lowers risk for lenders and helps keep finance cheaper. behind Housing Australia bondsDebt issued by the agency to raise money for housing finance, with the Commonwealth guarantee helping make it attractive to investors. until 30 June 2028, giving community housing providersNot-for-profit housing organisations that borrow or receive support to build and manage affordable homes. and investors more certainty about low-cost finance.

Show source excerpts
  1. All references to the NHFIC contained in the NHFIC Act will be replaced with ‘Housing Australia’ to reflect the transition of the NHFIC to be known as Housing Australia.
    Treasury Laws Amendment (Housing Measures No. 1) explanatory memorandum
  2. Housing Australia will also take on new functions as required, including using funds from the HAFF paid to it to assist in the delivery of social and affordable housing, and in relation to acute housing needs.
    Treasury Laws Amendment (Housing Measures No. 1) explanatory memorandum
  3. This new provision recognises the expanded remit of the NHIF, whereby the NHIF can be used to finance both housing-enabling infrastructure projects as well as social or affordable housing projects. Similar to the existing review mechanism allowing the review of assistance provided to first home buyers, the new annual review mechanism for Housing Australia’s activities in operating the NHIF ensures the Minister maintains regular oversight of the NHIF. This ongoing monitoring allows the Minister to assess whether the NHIF’s activities are furthering the Government’s objectives in increasing and accelerating the supply of social and affordable housing. [Schedule 2, item 16, section 57B of the Housing Australia Act]
    Treasury Laws Amendment (Housing Measures No. 1) explanatory memorandum
  4. In addition, Schedule 1 to the Amendment Bill amends the composition of the Board by increasing its membership by two members. Schedule 1 also expands the field of qualifications, skills or experience of potential Board members to include housing for Aboriginal or Torres Strait Islander persons.
    Treasury Laws Amendment (Housing Measures No. 1) explanatory memorandum
  5. The bill also extends the legislated Commonwealth guarantee, which underpins the NHFIC bonds that enable low-cost finance for community housing providers, until 30 June 2028. Extending the guarantee provides certainty to the community housing sector and investors in debt securities issued by the bond aggregator.
    Minister's second reading speech

Context

Broader context for this bill

Australia already had the National Housing Finance and Investment CorporationThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. providing government-backed low-cost finance for housing, but Labor’s October 2022-23 budget commitments and the looming 2023 end date for the Commonwealth guaranteeThe federal government's backing of Housing Australia bonds, which lowers risk for lenders and helps keep finance cheaper. on its bonds created pressure to recast the agency for a bigger social and affordable housingHomes aimed at people on low or moderate incomes, which is the main policy target of the bill. role. After TreasuryThe federal department that prepared the draft laws and consultation material before the bill was introduced. released exposure draftA draft version of the proposed law released for public consultation before Parliament considers the final bill. materials in December 2022, the government introduced this bill in August 2023 as part of its housing package to rename the body Housing AustraliaThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing., extend the guarantee to 30 June 2028 and align it with the Housing Australia Future FundA new federal funding source linked to the wider housing package that is meant to help pay for grants and loans for urgent housing needs., but the bill later lapsed at the March 2025 dissolutionThe point when Parliament ends for an election, at which time this bill lapsed and stopped proceeding..

  1. October 2022

    Budget commits to a new federal housing package

    Labor’s October 2022-23 budget announced its Safer and More Affordable Housing measure, setting up the policy package that this bill was designed to help deliver.

    Hansard ↗
  2. 19 Dec 2022 to 11 Jan 2023

    TreasuryThe federal department that prepared the draft laws and consultation material before the bill was introduced. releases draft housing laws for consultation

    TreasuryThe federal department that prepared the draft laws and consultation material before the bill was introduced. published exposure draftA draft version of the proposed law released for public consultation before Parliament considers the final bill. explanatory materials and the government says it received 46 written submissions and held three consultation sessionsMeetings held by Treasury with stakeholders to get feedback on the proposed housing laws before the bill was introduced. on the package.

    Treasury / Hansard ↗
  3. 01 Aug 2023

    Senate impasse builds around Labor's housing package

    The Australian Financial Review reported Labor and the Greens were trying to break a Senate deadlock over the Housing Australia Future FundA new federal funding source linked to the wider housing package that is meant to help pay for grants and loans for urgent housing needs., underscoring the political stakes around the wider housing legislation.

    Australian Financial Review ↗
  4. 02 Aug 2023

    Government introduces the Housing Measures No. 1 bill

    The bill was introduced as part of the housing legislative package to rename NHFICThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. as Housing AustraliaThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing., expand its role and extend the Commonwealth bond guarantee to 30 June 2028.

    Parliamentary timeline / Hansard ↗
  5. 14 Sept 2023

    Parliament passes the Housing Australia Future FundA new federal funding source linked to the wider housing package that is meant to help pay for grants and loans for urgent housing needs. laws

    Passage of the broader HAFFA new federal funding source linked to the wider housing package that is meant to help pay for grants and loans for urgent housing needs. legislation cleared the way for Housing AustraliaThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. to become the delivery vehicle for a major new affordable and social housing program.

    Australian Financial Review ↗
  6. 15 Jan 2024

    Housing AustraliaThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. funding tenders open to projects like unsold units and office conversions

    The first funding round opened for eligible projects including unsold apartments, office-to-residential conversions and repairs to uninhabitable homes, showing the practical delivery role the renamed agency was meant to support.

    Australian Financial Review ↗
  7. 28 Mar 2025

    The bill lapses at dissolutionThe point when Parliament ends for an election, at which time this bill lapsed and stopped proceeding.

    The measure did not complete Parliament and fell away when the House was dissolved, leaving its proposed agency changes unmade through this bill.

    Parliamentary timeline ↗

Legislative route

How did it move through Parliament?

House Senate
Introduced 02 Aug 2023

The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.

Introduced and read a first time

Second reading opened 02 Aug 2023

A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.

Second reading moved

Scrutiny of Bills review 09 Aug 2023

Considered in Scrutiny Digest 9 of 2023.

Considered by scrutiny committee

APH bill page notes
Economics Legislation Committee; Committee report (24/10/2023) review 10 Aug 2023

Referred to Committee (10/08/2023): Senate Economics Legislation Committee; Committee report (24/10/2023)

Referred to committee

APH bill page notes
Lapsed at dissolutionThe point when Parliament ends for an election, at which time this bill lapsed and stopped proceeding. 28 Mar 2025

The bill reached this recorded parliamentary step.

Key criticism

The main case against this bill

The main criticism was not about the bill’s housing goal but whether these machinery changes would translate into enough viable projects and investment to actually deliver more affordable homes. That reservation appeared mainly in industry commentary saying outcomes depended on the scheme’s detailed settings, while no party represented in the supplied debate opposed the bill.

Criticism recorded was limited and mostly about delivery risk, not the bill’s core purpose.

Delivery may depend on scheme details

Commentary around the Housing AustraliaThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. package warned that expanding Housing AustraliaThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing.’s role and opening the door to more finance would only work if the funding model and project settings made affordable housing commercially viable. The concern was that the bill’s structural changes alone would not guarantee enough investment or new homes without strong implementation details.

Raised by Superannuation industry commentary reported by the Australian Financial Review Source ↗

Further sources

afr.com ↗

Votes

Recorded votes

No recorded votes were found before this bill stopped proceeding.

Parliamentary debate

Who spoke, and what they said

Start here — lead voices

Sponsor speech Supports

Julie Collins

Australian Labor Party • MP 02 Aug 2023

Collins supports the bill, saying it renames NHFICThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. as Housing AustraliaThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing., streamlines its functions and extends the Commonwealth guaranteeThe federal government's backing of Housing Australia bonds, which lowers risk for lenders and helps keep finance cheaper. to keep low-cost finance flowing to community housing providersNot-for-profit housing organisations that borrow or receive support to build and manage affordable homes..

Read in Hansard ↗

All speeches by bloc

Labor

1 speaker · 1 support

  1. Julie Collins ★ Collins supports the bill, saying it renames NHFICThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing. as Housing AustraliaThe renamed federal body that replaces NHFIC and is meant to play a broader role in funding and supporting social and affordable housing., streamlines its functions and extends the Commonwealth guaranteeThe federal government's backing of Housing Australia bonds, which lowers risk for lenders and helps keep finance cheaper. to keep low-cost finance flowing to community housing providersNot-for-profit housing organisations that borrow or receive support to build and manage affordable homes..
    “This bill also streamlines the functions of Housing Australia and establishes an annual review mechanism for the National Housing Infrastructure Facility. This will allow the government to regularly review the facility's performance against the objective of increasing and accelerating the supply of new social and affordable housing.”

    Australian Labor Party • MP • 02 Aug 2023

    Read the full speech in Hansard ↗

Record

Full record

Full chat