Home Property Australia Legislative changes to Economic Development Queensland passed

Legislative changes to Economic Development Queensland passed

  • June 21, 2024
  • by Property Australia
Queensland Parliament has passed the Economic Development and Other Legislation Amendment Bill 2024.

Last week the Queensland Parliament passed the Economic Development and Other Legislation Amendment Bill 2024.

The act expands the remit of Economic Development Queensland (EDQ) to:

  • Incorporate social and affordable housing into EDQ’s main purpose and reinforcing the role the entity plays in driving housing supply, affordability and diversity
  • Introduce the Place Renewal Framework, where a Place Renewal Area can be declared to bring about stronger coordination for a precinct for better value and better place-based outcomes
  • Change to the corporate structure of Economic Development Queensland, where from 1 July 2024 EDQ will become a stand-alone entity reporting to the Minister for Economic Development Queensland
  • Increase efficiency of existing functions and powers.

You can read the Property Council’s submission on the Bill online.

More information can be found online.