National Housing Finance and Investment Corporation draft legislation unveiled
The NHFIC will act as a bond aggregator to help finance community housing providers
30 Jan 2018
The Australian Government has released the draft legislation governing the National Housing Finance and Investment Corporation (NHFIC). The NHFIC was first put forward in the Government’s 2017–18 Budget and key details were discussed at the National Housing Conference 2017 in Sydney.
The draft legislation highlights that the NHFIC, which will be a financial intermediary, will administer Government programs including:
- a $1 billion National Housing Infrastructure Facility (NHIF) to help finance critical infrastructure to increase the stock of housing, particularly affordable housing
- an affordable housing bond aggregator to improve the efficiency of financing for community housing providers, enabling them to improve housing outcomes for their clients
The Government will issue an Investment Mandate, outlining expectations about the performance of the NHFIC’s functions, including decision-making criteria and risk and return on investments.
The NHFIC Bill will be reviewed three years after it commences.
The draft legislation is available to view on the Australian Government Treasury website.