Treasury Laws Amendment (Housing Measures No. 1) Act 2023 (81 of 2023)

Schedule 4   Consequential matters arising from the Housing Australia Future Fund Act 2023

Housing Australia Act 2018

42   After subsection 47C(2)

Insert:

(2A) Housing Australia may apply such paragraph (1)(b) payments in making grants or loans, in the performance of its functions mentioned in paragraphs 8(1)(a) and (2)(a), in relation to any of the following:

(a) acute housing needs;

(b) social housing;

(c) affordable housing.

Note: This subsection confers a function on Housing Australia to apply the payments from the Commonwealth mentioned in paragraph (1)(b). This means the Investment Mandate may include directions about how Housing Australia applies those payments.

(2B) A payment under paragraph (1)(b) must not be made before 1 July 2023.