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Enacted Dáil
No. 21 of 2024

Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024

Public bill · Government · Presented

Creates two new State funds: one to help pay for public spending from 2041 onwards, and another to help in a future economic downturn and to fund certain climate, nature and infrastructure projects between 2026 and 2030. It sets out how money will be paid into, invested in, and taken out of these funds, with the National Treasury Management Agency in charge. It also closes an older reserve fund and moves its assets into the new funds, while adding limits aimed at protecting the money and discouraging investment in fossil fuels.

Formal long title

Bill entitled an Act to provide for the establishment of a fund to be known as the Future Ireland Fund for the purpose of supporting, in a consistent and sustainable manner, State expenditure in any year from 2041; to provide for the establishment of a fund to be known as the Infrastructure, Climate and Nature Fund for the purpose of supporting State expenditure, in 2026 or any year thereafter, in the event of a significant deterioration, or likely such deterioration, in the economic or fiscal position of the State and for the purpose of supporting State expenditure, between 2026 and 2030, on certain environmental projects; to provide for the control and management of those funds by the National Treasury Management Agency; to provide for the transfer of certain assets to those funds; to provide for the dissolution of the National Surplus (Exceptional Contingencies) Reserve Fund and the transfer of the assets of that fund to the Future Ireland Fund and the Infrastructure, Climate and Nature Fund; for those and other purposes to amend the National Treasury Management Agency Act 1990, the National Treasury Management Agency (Amendment) Act 2014 and certain other enactments and to repeal the National Surplus (Reserve Fund for Exceptional Contingencies) Act 2019; and to provide for related matters.

Last updated 30 August 2024

Sponsor
  • Minister for Finance Primary
Progress
  • First Stage
    Dáil
  • Second Stage
    Dáil
  • Committee Stage
    Dáil
  • Report Stage
    Dáil
  • Fifth Stage
    Dáil
  • Second Stage
    Seanad
  • Committee Stage
    Seanad
  • Report Stage
    Seanad
  • Fifth Stage
    Seanad Enacted
  • Enacted
    Enacted
Debates
  • Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage
    Seanad
  • Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Second Stage
    Seanad
  • Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Report and Final Stages
    Dáil
  • Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Second Stage (Resumed)
    Dáil
  • Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Second Stage
    Dáil

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