2013-2014 

 

The Parliament of the 

Commonwealth of Australia 

 

HOUSE OF REPRESENTATIVES 

 

 

 

 

Presented and read a first time 

 

 

 

 

Infrastructure Australia Amendment 

(Cost Benefit Analysis and Other 

Measures) Bill 2014 

 

No.      , 2014 

 

(Infrastructure and Regional Development) 

 

 

 

A Bill for an Act to amend the Infrastructure 

Australia Act 2008, and for related purposes 

   

   

 

 

No.      , 2014 

Infrastructure Australia Amendment (Cost Benefit Analysis and Other 

Measures) Bill 2014 

i 

 

Contents 

1 

Short title ........................................................................................... 1

 

2 

Commencement ................................................................................. 1

 

3 

Schedules ........................................................................................... 2

 

Schedule 1--Amendments

 

3

 

Infrastructure Australia Act 2008

 

3

 

 

 

 

No.      , 2014 

Infrastructure Australia Amendment (Cost Benefit Analysis and Other 

Measures) Bill 2014 

1 

 

A Bill for an Act to amend the Infrastructure 

1 

Australia Act 2008, and for related purposes 

2 

The Parliament of Australia enacts: 

3 

1  Short title 

4 

 

  This Act may be cited as the Infrastructure Australia Amendment 

5 

(Cost Benefit Analysis and Other Measures) Act 2014. 

6 

2  Commencement 

7 

 

  This Act commences on the day after this Act receives the Royal 

8 

Assent. 

9 

   

   

 

 

2 

Infrastructure Australia Amendment (Cost Benefit Analysis and Other 

Measures) Bill 2014 

No.      , 2014 

 

3  Schedules 

1 

 

  Legislation that is specified in a Schedule to this Act is amended or 

2 

repealed as set out in the applicable items in the Schedule 

3 

concerned, and any other item in a Schedule to this Act has effect 

4 

according to its terms. 

5 

Amendments  Schedule 1 

   

 

 

No.      , 2014 

Infrastructure Australia Amendment (Cost Benefit Analysis and Other 

Measures) Bill 2014 

3 

 

Schedule 1

--Amendments 

1 

   

2 

Infrastructure Australia Act 2008 

3 

1  Section 3 

4 

Insert: 

5 

proposal means a proposal made by a person other than 

6 

Infrastructure Australia. 

7 

2  After subsection 5A(1) 

8 

Insert: 

9 

 

(2)  Without limiting the function referred to in subsection (1), that 

10 

function includes evaluating proposals for investment in, or 

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enhancements to, nationally significant infrastructure that involve 

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Commonwealth funding of at least $100 million. 

13 

3  After section 5A 

14 

Insert: 

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5AA  Cost benefit analysis 

16 

 

(1)  Infrastructure Australia must not include a proposal in an 

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Infrastructure Priority List referred to in paragraph 5(b) unless a 

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cost benefit analysis of the proposal has been prepared in 

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accordance with a method approved under subsection (2). 

20 

 

(2)  Infrastructure Australia may approve a method for preparing cost 

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benefit analyses of proposals. The method must enable proposals to 

22 

be compared. 

23 

 

(3)  Infrastructure Australia must cause a method approved under 

24 

subsection (2) to be reviewed: 

25 

 

(a)  no later than 6 months after the commencement of this 

26 

section; and 

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(b)  every 24 months after that first review. 

28 

Schedule 1  Amendments 

   

 

 

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Infrastructure Australia Amendment (Cost Benefit Analysis and Other 

Measures) Bill 2014 

No.      , 2014 

 

 

(4)  Without limiting subsection (3), a review under that subsection 

1 

must consider whether cost benefit analyses are adequately taking 

2 

account of social, environmental and economic costs and benefits. 

3 

 

(5)  The report of the review must be made available on Infrastructure 

4 

Australia's website within 14 days of the report being approved by 

5 

the Board. 

6 

4  Paragraph 5B(1)(ba) 

7 

Repeal the paragraph. 

8 

5  Subsections 5B(3), (6), (7) and (8) 

9 

Repeal the subsections. 

10 

6  Paragraph 39C(d) 

11 

Omit "subsection 5B(3)", substitute "subsection 5AA(2)". 

12 

7  Before section 40 

13 

Insert: 

14 

39E  Indexation of amounts 

15 

 

(1)  The amount referred to in subsection 5A(2) is to be indexed in 

16 

accordance with the method determined by the Minister by 

17 

legislative instrument. The method must provide for the amount to 

18 

be indexed: 

19 

 

(a)  for the first time on a day in 2019; and 

20 

 

(b)  at least once every 5 years. 

21 

 

(2)  Subsection 5A(2) is taken, on and from a day of indexation, to 

22 

refer to the amount as indexed on that day. 

23