NPDC is promoting the New Plymouth District Council (Perpetual Investment Fund) Bill to Parliament.
Parliament’s Governance and Administration Committee called for feedback on the Bill. Submissions closed on 3 February 2023.
The next step is for the Committee to consider whether any changes are warranted and to report back to the House.
The Perpetual Investment Fund (PIF) currently helps to offset rates for our residents. The Bill would ring-fence benefits from the PIF for people living within the present district boundary.
It would also require Councillors to consider the long-term nature of the PIF when they make decisions and would stand alongside the existing protections to ensure it keeps paying out for residents.
The Bill was introduced to Parliament on 22 November 2022. You can follow the Bill's progress on the Parliament website and the Legislation website.
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Page last updated: 02:09PM Thu 09 March 2023