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Tasmanian Development Amendment Bill 2024

The Tasmanian Government has prepared the Tasmanian Development Amendment Bill 2024.

The Bill fulfils the Government’s election commitment to introduce legislation to update the Tasmanian Development Act 1983 (the Act) to allow co-investment in strategic projects that benefit Tasmania, increasing the $10 million cap set in 1999 to $35 million.

It would also make further amendments to the Act to improve its operation and the efficiency of TDR. These amendments include:

  • Increasing the cap for secured loans from $3 million to $15 million.
  • Increasing the cap for unsecured loans from $250 000 to $500 000.
  • Increasing the cap for discharging liabilities from $20 000 to $50 000.
  • Introducing a power of delegation for the Minister to improve the efficiency of decision making.
  • Rectifying an operational issue with section 35 of the Act by making clear how loans or grants made under Part III can be funded.

The public consultation period closed on Friday 26 July 2024. No submissions were received.

Download a draft of the Tasmanian Development Amendment Bill 2024 (PDF 94.0 KB).