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Infrastructure Funding and Financing Act 2020
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Infrastructure Funding and Financing Act 2020
Public Act
2020 No 47
Date of assent
6 August 2020
Commencement
see section 2
Contents
1
Title
2
Commencement
Part 1
Preliminary provisions
3
Purpose
4
Outline of this Act
5
Transitional, savings, and related provisions
6
Act binds the Crown
Interpretation
7
Interpretation
8
Meaning of eligible infrastructure
9
Meaning of eligible costs
10
What is an SPV
Protected Māori land
11
Meaning of protected Māori land
12
Te Ture Whenua Maori Act 1993 not affected by this Act
13
Marine and Coastal Area (Takutai Moana) Act 2011 not affected by this Act
14
Treaty settlement obligations prevail
Application of Local Government (Rating) Act 2002
15
How Local Government (Rating) Act 2002 applies to this Act
Part 2
Authorisation of levy
16
Outline of this Part
Subpart 1—Consideration of levy proposal
Levy proposal
17
Who may propose levy
18
Content of levy proposal
Levy proposal assessed by recommender
19
Recommender assesses levy proposal
20
Infrastructure endorsement
21
Levy endorsement
22
Authorities not restricted by endorsement
23
Endorsements notified
24
Consent to include protected Māori land
25
Recommendation
26
Recommendation report
Responsible Minister’s consideration of levy proposal
27
Responsible Minister may recommend levy order to Governor-General in Council
28
Consultation
Subpart 2—Levy order
29
Order in Council
30
Monitor publishes recommender’s report
31
Content of levy order
32
Setting levy: leviable land
33
Setting levy: factors to be used in assessing liability
34
Additional content of levy order
Subpart 3—Basis of liability for levy
Preliminary
35
Application
36
Leviable land
37
Who must pay levy
38
When levy payment must be made
39
Levy period
Responsible SPV sets annual levy
40
Annual levy
41
Rating information needed by SPV
Confirmation of annual levy
42
Proposed annual levy resolution
43
Monitor reviews proposed resolution and report
44
Monitor confirms proposed resolution
45
Responsible SPV sets annual levy
46
Monitor publishes resolution
47
Monitor not satisfied
48
Revised proposed annual levy resolution
49
Monitor directs resolution
50
Responsible SPV sets annual levy as directed
Correcting annual levy
51
Responsible SPV may correct annual levy resolution
Maximum levy revenue can be reduced
52
Maximum levy revenue can be reduced
Part 3
Administration of levy
53
Outline of this Part
Subpart 1—Who administers levy
54
Who administers levy
55
Levy administration agreement
56
When agreement not reached
57
When SPV recovers unpaid levy
58
Levy is charge against rating unit
59
Invalidity of levy not ground for refusal to pay levy
Subpart 2—Responsible levy authority administers levy
Levy proceeds paid to responsible SPV
60
Collected levy paid to responsible SPV
Rating information database and rating records
61
Rating information database
62
Objections by levypayers
63
Responsible SPV to give levy-related information to responsible levy authority
64
Notification of change in circumstances
65
Rates records and objections, etc, to rates records
66
Correction of errors
67
Amended levy assessment and recovery of additional levy
Levy assessment and invoicing
68
Assessment of levy liability
69
Rating units in common ownership
70
Levy assessment notified to levypayer
71
Information in levy assessment
72
Levy invoice
73
Further processes for levy assessment and levy invoice
Collection of levy
74
Collection of levy
Penalties
75
Penalties for unpaid levy
Remission and postponement of levy
76
Levy remission and levy postponement policies
77
Levy remission and levy postponement policies relating to Maori freehold land
78
Remission of levy
79
Postponement of requirement to pay levy
Recovery of unpaid levy
80
Recovery under Local Government (Rating) Act 2002
81
Recovery action in relation to Maori freehold land
Subpart 3—When responsible SPV recovers unpaid levy
82
Recovery action generally
83
Legal proceedings to recover levy
84
Application of proceeds of rating sale or lease that involves levy
85
Recovery action in relation to Māori freehold land
86
Responsible levy authority must give information to responsible SPV
Part 4
Other operational and financial matters
87
Outline of this Part
Subpart 1—SPV’s ongoing duties
88
Levy collected must not exceed maximum levy revenue
89
Levy revenue must be applied only to pay eligible costs
90
Eligible infrastructure vested in responsible infrastructure authority
Subpart 2—Excess levy, uncollected levy, and previous contributions
Excess levy at end of levy period
91
Excess levy at end of levy period
92
Excess levy threshold
Uncollected levy at end of levy period
93
Responsible SPV may assign uncollected levy to responsible levy authority
Previous development contributions and financial contributions
94
Application and interpretation
95
Responsible levy authority to inform responsible SPV about previous contributions
96
Responsible SPV may direct responsible levy authority to transfer previous contributions and remit levies
97
Responsible levy authority must refund or return previous contributions if no direction
98
Sections 209 and 210 of Local Government Act 2002 do not apply to those previous contributions
Subpart 3—SPV’s powers relating to construction
Powers relating to private land
99
Power to construct eligible infrastructure on private land
Powers relating to roads and public land
100
Powers to construct water services infrastructure on roads and public land
101
Notice requirement
102
Responsible SPV to be notified of conditions
103
Failure to notify conditions
104
Urgency
105
Appeal by responsible SPV to District Court
Subpart 4—Other financial matters
Accounting records and reporting
106
Definitions
107
Levy account
108
Accounting records
109
Financial statements
110
Audit
111
Annual report
112
Content of annual report
113
Additional information required by monitor
Limitations on support given to SPV
114
Support from responsible levy authority or responsible infrastructure authority
115
Crown liability generally
116
Crown liability under certain contracts and arrangements
Part 5
Monitoring, remedies, enforcement, and miscellaneous
117
Outline
Subpart 1—Role of monitor
118
Appointment of monitor
119
Functions, duties, and powers
120
Monitor must publish information
121
Information and assistance
122
Restricted change of control of SPV
123
Inquiry into SPV’s operations
124
Monitor may give direction or request remedial plan
125
Monitor may recommend appointment of Crown Manager
Subpart 2—Role of Crown Manager
126
Responsible Minister may appoint Crown Manager
127
Functions, duties, and powers of Crown Manager
128
Information to responsible Minister and monitor
129
Termination of appointment
130
Protection from liability
131
Costs of Crown Manager
132
Remuneration and expenses of Crown Manager
Subpart 3—Modified rights and remedies for creditors
133
General law applies with some modifications
Modification of Receiverships Act 1993 for SPVs
134
Application of Receiverships Act 1993
135
Receiver appointed under instrument
136
Receiver appointed by court
137
Powers of receiver
138
General duties of receiver
139
Constraints on receiver
140
Protection of receiver
141
Exception in relation to Crown Manager
Limit on usual rules for creditors
142
Limit on usual rules for transactions and dispositions at under value
Subpart 4—Enforcement
Injunctions and compliance orders
143
Court may grant injunction
144
When court may grant injunction
145
No undertaking as to damages required
146
Court may make compliance order
Civil liability and compensatory orders
147
Court may make civil liability order
148
Court may make compensatory order
149
Defences
150
Defences for person involved in contravention
151
Meaning of involved in a contravention
Offences
152
False statement or information
153
Refusal or failure to give information
154
Resistance, obstruction, or failure to comply with directions
Subpart 5—Miscellaneous
Recommender
155
Appointment of recommender
156
Function of recommender
Delegations
157
Responsible levy authority may delegate
158
Responsible SPV may delegate
159
Other provisions of Local Government (Rating) Act 2002 applied
Courts
160
Jurisdiction of courts
Subpart 6—Amendments to other Acts
161
Amendments to other Acts
Schedule 1
Transitional, savings, and related provisions
Schedule 2
Amendments to other Acts
Legislative history
Administrative information
The Parliament of New Zealand enacts as follows: