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Thursday, 12 May 2011
Page: 3808

Mr SHORTEN (MaribyrnongAssistant Treasurer and Minister for Financial Services and Superannuation) (10:53): I move:

That this bill be now read a second time.

This bill is part of a package of bills concerning the taxation of alternative fuels. The bill amends the Energy Grants (Cleaner Fuels) Scheme Act 2004 to extend its operation.

The change is a consequence of two circumstances. The first is the government's decision announced on 24 January 2011 to allow an additional five months until 1 December 2011 for affected industry participants and, in particular, the gaseous fuels sector to adjust to the changes. The second is as a result of revised fuel taxation arrangements for ethanol, biodiesel, renewable diesel and methanol.

Full details of the Energy Grants (Cleaner Fuels) Scheme Amendment Bill 2011 are contained in the explanatory memorandum.

Debate adjourned