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Accident Compensation (Financial Responsibility and Transparency) Amendment Bill

Introduced on May 11 and given its first reading on June 2 with general support. The bill lays down the principles of financial management of the Accident Compensation Corporation. It has two broad objectives: to improve the framework for determining how ACC’s levied Accounts are funded so it more transparent, has a longer-term focus, and supports more stable levies; and to ensure that the residual levy is not over-collected. Labour supported the bill being sent to select committee but argued it was fairly pointless as it just seemed to codify current practice. Report from Transport and Industrial Relations Committee due by November 3. Reported back on September 14 with only minor changes and given its second reading on September 19.  Third reading completed on September 23. Labour and Greens remain dismissive of the bill, but only NZ First voted against in protest at high levy rates. Accident Compensation (Financial Responsibility and Transparency) Amendment Bill