Division Description Changes — Bills — Future Made in Australia (Production Tax Credits and Other Measures) Bill 2024; Second Reading — 28th Nov 2024

Change	Division
representatives vote 2024-11-28#14 Edited by mackay staff on 2024-12-07 14:05:01	Title Bills — Future Made in Australia (Production Tax Credits and Other Measures) Bill 2024; Second Reading Future Made in Australia (Production Tax Credits and Other Measures) Bill 2024 - Second Reading - Agree with the bill's main idea Description ~~<p class="speaker">Milton Dick</p>~~ ~~<p>The question now is that the bill be now read a second time.</p>~~ The majority voted in favour of a motion to read the bill for a second time. This is parliamentary jargon for agreeing with the main idea of the bill. Because this division was successful, our MPs can now discuss the bill in more detail. ### What does this bill do? In his second reading speech, Treasurer and Rankin MP [Jim Chalmers](https://theyvoteforyou.org.au/people/representatives/rankin/jim_chalmers) (Labor) [explained that](https://www.aph.gov.au/Parliamentary_Business/Hansard/Hansard_Display?bid=chamber/hansardr/28042/&sid=0000): *> This** bill does three main things.* > *> Firstly, it will establish a hydrogen tax incentive worth $2 for every kilogram of renewable hydrogen produced by eligible projects that have** reached a final investment decision before July 2030.* > > Secondly, it will establish a critical minerals tax incentive worth 10 per cent of the value of relevant mineral processing and refining costs for the production of any of Australia's 31 critical minerals. > > Both incentives apply for hydrogen or minerals produced between 2027-28 and 2039-40 and for up to 10 years per project. > > Thirdly, it will expand the role and remit of Indigenous Business Australia to help support more investment into Indigenous communities. ~~<p></p>~~ ~~<p></p>~~

~~Milton Dick~~
~~The question now is that the bill be now read a second time.~~
The majority voted in favour of a motion to read the bill for a second time. This is parliamentary jargon for agreeing with the main idea of the bill. Because this division was successful, our MPs can now discuss the bill in more detail.
### What does this bill do?
In his second reading speech, Treasurer and Rankin MP [Jim Chalmers](https://theyvoteforyou.org.au/people/representatives/rankin/jim_chalmers) (Labor) [explained that](https://www.aph.gov.au/Parliamentary_Business/Hansard/Hansard_Display?bid=chamber/hansardr/28042/&sid=0000):
> *This bill does three main things.*
>
> *Firstly, it will establish a hydrogen tax incentive worth $2 for every kilogram of renewable hydrogen produced by eligible projects that have reached a final investment decision before July 2030.*
>
> *Secondly, it will establish a critical minerals tax incentive worth 10 per cent of the value of relevant mineral processing and refining costs for the production of any of Australia's 31 critical minerals.*
>
> *Both incentives apply for hydrogen or minerals produced between 2027-28 and 2039-40 and for up to 10 years per project.*
>
> *Thirdly, it will expand the role and remit of Indigenous Business Australia to help support more investment into Indigenous communities.*
~~~~
~~~~