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senate vote 2019-07-24#2
Edited by
mackay staff
on
2019-09-06 12:41:27
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Title
Bills — Future Drought Fund Bill 2019, Future Drought Fund (Consequential Amendments) Bill 2019; Second Reading- Future Drought Fund Bill 2019 amd another - Second Reading - Royalty on oil and gas project
Description
<p class="speaker">Janet Rice</p><p>I move my second reading amendment regarding introducing a royalty on oil and gas project to pay for the Future Drought Fund:</p><p class="italic">At the end of the motion, add:</p>- The majority voted against an amendment to the usual [second reading motion](https://www.peo.gov.au/learning/fact-sheets/making-a-law.html), which is *that the bill be read a second time*. This is parliamentary jargon for agreeing with the main idea of the bill. The amendment was introduced by Victorian Senator [Janet Rice](https://theyvoteforyou.org.au/people/senate/victoria/janet_rice) (Greens).
- ### Amendment text
- > *At the end of the motion, add:*
- >
- > *", but the Senate:*
- >
- >> *(a) notes that the placement of a 10 per cent royalty on projects subject to the PRRT, creditable against PRRT liabilities, and treated as a deductible expense in calculating company tax, would raise $4 billion, in real terms, within two years; and*
- >>
- >> *(b) calls on the Government to bring forward legislation to introduce a Commonwealth royalty on oil and gas projects for the purposes of the Future Drought Fund in recognition that the oil and gas industry are contributing to more severe and prolonged droughts."*
<p class="italic">", but the Senate:</p><p class="italic">(a) notes that the placement of a 10 per cent royalty on projects subject to the PRRT, creditable against PRRT liabilities, and treated as a deductible expense in calculating company tax, would raise $4 billion, in real terms, within two years; and</p><p class="italic">(b) calls on the Government to bring forward legislation to introduce a Commonwealth royalty on oil and gas projects for the purposes of the Future Drought Fund in recognition that the oil and gas industry are contributing to more severe and prolonged droughts."</p> <p class="speaker">Scott Ryan</p><p>The question is that the second reading amendment moved by Senator Rice be agreed to.</p>
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