Tasmanian Development and Resources

The Tasmanian Government has released a draft of the Tasmanian Development Amendment Bill 2024.

The Bill fulfils the Government’s election commitment to introduce legislation to update the Tasmanian Development Act 1983 (the Act) to allow co-investment in strategic projects that benefit Tasmania, increasing the $10 million cap set in 1999 to $35 million.

It would also make further amendments to the Act to improve its operation and the efficiency of TDR. These amendments include:

• Increasing the cap for secured loans from $3 million to $15 million.
• Increasing the cap for unsecured loans from $250 000 to $500 000.
• Increasing the cap for discharging liabilities from $20 000 to $50 000.
• Introducing a power of delegation for the Minister to improve the efficiency of decision making.
• Rectifying an operational issue with section 35 of the Act by making clear how loans or grants made under Part III can be funded.

Download a draft of the Tasmanian Development Amendment Bill 2024 (PDF 94.0 KB).