Building Boost Grant Act 2011 (Qld)

Building Boost Grant Act 2011

An Act to assist housing affordability, increase housing supply, and support employment in the housing construction industry, by establishing a scheme for the payment of grants to persons building or purchasing new homes

Part 1 Preliminary

Division 1 Introduction

1 Short title This Act may be cited as the Building Boost Grant Act 2011.

2 Commencement (1) The following provisions are taken to have commenced on 1 August 2011— (a) part 1, divisions 2 to 4, other than section 9(1)(h) and (4); (b) part 2, other than sections 18(e)(vii), 29, 32(2)(c)(iii) and 38(1)(a) and (b)(i) and (iii); (c) sections 94, 95(1) to (3), 102, 103, 105, 106 and 107; (d) schedule 2. (2) Part 7 commences immediately after the commencement of this section.

Division 2 Purpose of the Act

3 Purpose of Act and its achievement (1) The purpose of this Act is to stimulate the housing market in Queensland in the following ways— (a) assisting the affordability of housing; (b) increasing the supply of housing; (c) supporting employment in the housing construction industry. (2) The purpose is achieved mainly by establishing a scheme for payment of a building boost grant.

Division 3 Interpretation

Subdivision 1 Dictionary

4 Definitions The dictionary in the schedule defines particular words used in this Act.

Subdivision 2 Basic concepts

5 What is a building boost grant (1) Generally, a building boost grant is the grant payable under part 2. (2) A reference to a building boost grant for a home is a reference to a building boost grant for an eligible transaction relating to the home.

6 What is an eligible transaction (1) An eligible transaction is any of the following— (a) an eligible home purchase contract; (b) an eligible home building contract; (c) an eligible owner-builder arrangement. (2) Subsection (1) is subject to section 18.