Future Ireland Fund and Infrastructure, Climate and Nature Fund Act 2024
AI-assisted research summary: This Act establishes the Future Ireland Fund and the Infrastructure, Climate and Nature Fund, sets out their purposes and management, and makes related amendments and repeals.
Future Ireland Fund and Infrastructure, Climate and Nature Fund Act 2024 Permanent Page URL View by Section Amharc de réir Ailt View Full Act Amharc ar an Acht Iomlán Bill History Stair Bille Commencement, Amendments, SIs made under the Act Tosach Feidhme, Leasuithe, IRà arna ndéanamh faoin Acht Open PDF Oscail PDF Priontáil an tAcht Iomlán Previous Section Alt Roimhe Next Section An Chéad Alt Eile Priontáil an tAlt 16 2024 FUTURE IRELAND FUND AND INFRASTRUCTURE, CLIMATE AND NATURE FUND ACT 2024 PART 1 Preliminary and General 1. Short title and commencement 2. Definitions 3. Expenses PART 2 Future Ireland Fund 4. Definitions (Part 2) 5. Establishment, purpose, control and management of FI Fund 6. Investment policy for FI Fund 7. Investment strategy for FI Fund 8. Payments into FI Fund 9. Payments into FI Fund where deterioration in economic or fiscal position of State 10. Report by Agency to Minister on proposed payments from FI Fund to Exchequer 11. Payments from FI Fund to Exchequer 12. Delay in certain payments from FI Fund to Exchequer PART 3 Infrastructure, Climate and Nature Fund 13. Definitions (Part 3) 14. Establishment, purpose, control and management of ICN Fund 15. Investment policy for ICN Fund 16. Investment strategy for ICN Fund 17. Payments into ICN Fund 18. Payments into ICN Fund from 2025 to 2030 where deterioration in economic or fiscal position of State 19. Payments from ICN Fund to Exchequer where deterioration in economic or fiscal position of State 20. Designated environmental projects 21. Payments from ICN Fund to Exchequer to support expenditure by State on designated environmental projects 22. Delay in certain payments from ICN Fund to Exchequer 23. Review of operation, effectiveness and impact of ICN Fund PART 4 Deterioration in Economic or Fiscal Position of State 24. Definitions (Part 4) 25. Assessment by Fiscal Council as to whether there has been a deterioration in economic or fiscal position of State 26. Assessment by Minister as to whether there has been a deterioration in economic or fiscal position of State PART 5 Management of Funds and Expenses 27. Definitions (Part 5) 28. Management of relevant Funds 29. Notice of payment into relevant Funds 30. Expenses of Agency in relation to relevant Funds 31. Investment in fossil fuel undertakings 32. Report and information to Minister relating to operation of relevant Funds PART 6 33. Amendment of Act of 1990 34. Amendment of Act of 2014 35. Dissolution of National Surplus (Exceptional Contingencies) Reserve Fund 36. Repeal of Act of 2019 37. Amendments to miscellaneous enactments relating to taxation SCHEDULE 1 PART 1 Amendment of Taxes Consolidation Act 1997 PART 2 Amendment of Stamp Duties Consolidation Act 1999 SCHEDULE 2 Amendment of Return of Payments (Insurance Undertakings) Regulations 2011 (S.I. No. 641 of 2011) Climate Action and Low Carbon Development Act 2015 (No. 46) Companies Act 2014 (No. 38) Fiscal Responsibility Act 2012 (No. 39) National Surplus (Reserve Fund for Exceptional Contingencies) Act 2019 (No. 18) National Treasury Management Agency (Amendment) Act 2000 (No. 39) National Treasury Management Agency (Amendment) Act 2014 (No. 23) National Treasury Management Agency Act 1990 (No. 18) Stamp Duties Consolidation Act 1999 (No. 31) Taxes Consolidation Act 1997 (No. 39) Wildlife (Amendment) Act 2000 (No. 38) 16 2024 FUTURE IRELAND FUND AND INFRASTRUCTURE, CLIMATE AND NATURE FUND ACT 2024 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. th June, Be it enacted by the Oireachtas as follows: