Infrastructure Funding and Financing Bill

  • enacted

Hon Phil Twyford

Infrastructure Funding and Financing Bill

Government Bill



4Outline of this Act
5Transitional, savings, and related provisions
6Act binds the Crown
8Meaning of eligible infrastructure
9Meaning of eligible costs
10What is an SPV
11Meaning of protected Māori land
12Te Ture Whenua Maori Act 1993 prevails not affected by this Act
13Marine and Coastal Area (Takutai Moana) Act 2011 prevails not affected by this Act
14Treaty settlement obligations prevail
15How Local Government (Rating) Act 2002 applies to this Act
16Outline of this Part
17Who may propose levy
18Content of levy proposal
19Recommender assesses levy proposal
20Asset Infrastructure endorsement
21Levy endorsement
22Authorities not restricted by endorsement
23Endorsements notified
24Consent to include protected Māori land
26Recommendation report
27Responsible Minister may recommend levy order to Governor-General in Council
29Order in Council
30Monitor publishes recommender’s report
31Content of levy order
32Levy: leviable land and categoriesSetting levy: leviable land
33Levy: assessment of liabilitySetting levy: factors to be used in assessing liability
34Additional content of levy order
36Leviable land
37Who must pay levy
38When levy payment must be made
39Levy period
40Annual levy
41Rating information needed by SPV
42Proposed annual levy resolution to monitor
43Monitor reviews proposed resolution and report
44Monitor confirms proposed resolution and report
45Responsible SPV sets annual levy
46Monitor publishes resolution
47Monitor not satisfied
48Revised proposed annual levy resolution
49Monitor directs resolution
50Responsible SPV sets annual levy as directed
51Responsible SPV may correct annual levy resolution within same levy year
52Levy period and annual levies Maximum levy revenue can be reduced
53Outline of this Part
54Who administers levy
55Levy administration agreement
56When agreement not reached
57When SPV recovers unpaid levy
58Levy is charge against rating unit
59Invalidity of levy not ground for refusal to pay levy
60Collected levy paid to responsible SPV
61Rating information database
62Objections by levypayers
63Responsible SPV to give levy-related information to responsible levy authority
64Notification of change in circumstances
65Rates records and objections, etc, to rates records
66Correction of errors
67Amended levy assessment and recovery of additional levy
68Assessment of levy liability
68ARating units in common ownership
69Levy assessment included in notice of rates assessmentnotified to levypayer
70Rates assessment to include information about levyInformation in levy assessment
71Levy invoice
72Further processes for levy assessment and levy invoice
73Collection of levy
74Penalties for unpaid levy
75Levy remission and levy postponement policies
75ALevy remission and levy postponement policies relating to Maori freehold land
76Remission of levy
77Postponement of requirement to pay levy
78Recovery under Local Government (Rating) Act 2002
79Recovery action in relation to Maori freehold land
80Recovery action generally
81Legal proceedings to recover levy
82Application of proceeds of rating sale or lease that involves levy
83Recovery action in relation to Maori freehold land
84Responsible levy authority must give information to responsible SPV
85Outline of this Part
86Levy collected must not exceed maximum levy revenue
87Levy revenue must be applied only to pay eligible costs
88Eligible infrastructure must be transferred under vesting agreement vested in responsible infrastructure authority
89Excess levy at end of levy period
90Excess levy threshold
90AResponsible SPV may assign uncollected levy to responsible levy authority
91Application and interpretation
92Responsible levy authority to inform responsible SPV about previous contributions
93SPV may direct territorial authority to transfer previous contributions and remit levies
93Responsible SPV may direct responsible levy authority to transfer previous contributions and remit levies
94Responsible levy authority must refund or return previous contributions if no direction
95Sections 209 and 210 of Local Government Act do not apply to those previous contributions
96Power to construct eligible infrastructure on private land (if applied by levy order)
97Powers to construct water services infrastructure on roads and public land (if applied by levy order)
98Notice requirement
99Responsible SPV to be notified of conditions
100Failure to notify conditions
102Appeal by responsible SPV to District Court
104Levy account
104AAccounting records
105Financial statements
107Annual report
108Content of annual report
109Additional information required by monitor
110Responsible levy authority must not guarantee or financially support SPVSupport from responsible levy authority or responsible infrastructure authority
111Crown liability generally
112Crown liability under certain contracts and arrangements
114Appointment of monitor
115Functions, duties, and powers
116Monitor must publish information
117Information and assistance
118Restricted change of control of SPV
119Inquiry into SPV’s operations
120Direction to address significant problem
120Monitor may give direction or request remedial plan
121Monitor may recommend appointment of Crown Manager
122Responsible Minister may appoint Crown Manager
123Functions, duties, and powers of Crown Manager
124Information to responsible Minister and monitor
125Termination of appointment
126Protection from liability
127Costs of Crown Manager
128Remuneration and expenses of Crown Manager
129General law applies with some modifications
130Application of Receiverships Act 1993
131Receiver appointed under instrument
132Receiver appointed by court
133Powers of receiver
134General duties of receiver
135Constraints on receiver
136Protection of receiver
137Exception in relation to Crown Manager
138Limit on usual rules for transactions and dispositions at under value (if applied by levy order)
139Court may grant injunction
140When court may grant injunction
140ANo undertaking as to damages required
141Court may make compliance order
142Court may make civil liability order
143Court may make compensatory order
145Defences for person involved in contravention
146Meaning of involved in a contravention
147False statement or information
148Refusal or failure to give information
149Resistance, obstruction, or failure to comply with directions
150Appointment of recommender
151Function of recommender
152Responsible levy authority may delegate
153Responsible SPV may delegate
154Other provisions of Local Government (Rating) Act 2002 applied
154AJurisdiction of courts
155Amendments to other Acts
Legislative history

The Parliament of New Zealand enacts as follows: