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Energy (Fuels, Levies, and References) Amendment Bill

Introduced Nov 23 2013. Extends a levy of around 0.045 cents on each litre of liquid fuel to fund international obligations over oil reserves. Passed first reading March 5 2014 by 77 to 41 with National, Greens, Maori Party, ACT and United Future in support and sent to the Commerce Committee for consideration. The Greens argued the reserves should be held in NZ and not overseas. Submissions closed on April 17. Reported back from select committee on July 1 with minor amendments, the committee did not address the issue of whether reserves should be held onshore. Received its second reading on Dec 10 with just NZ First against as they oppose the costs of funding the reserves falling on motorists. Completed its committee stage on February 11 with an opposition amendment to exclude biofuels was defeated. Passed third reading on Feb 17 with just NZ First opposed arguing the cost should be met through general taxation. A number of MPs warned oil companies not to use the bill to hike petrol prices. Energy (Fuels, Levies, and References) Amendment Bill