Auckland Council (Auckland Future Fund) Bill
Auckland Council wants to set up a long-term investment fund called the Auckland Future Fund (AFF). The fund will be seeded with the Council's shares in Auckland Airport. A new law would lock in rules to protect the fund — like requiring qualified, independent people to make investment decisions and keeping the fund's value from shrinking. Money from the fund would go back to the Council to pay for services and infrastructure. Councillors would need a 75% vote to ever dip into the fund's core value.
What this affects
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The bill creates a protected investment fund for Auckland, starting with airport shares, meant to grow over time and fund local services and infrastructure.
the purposes of the AFF will be— to protect the real value of the Auckland Council's intergenerational assets so that they can continue to benefit future generations; and to provide an enhanced return to the Auckland Council to fund services and infrastructure
An investment decision about the assets of the AFF may be made only by a person who is— appropriately qualified; and duly designated or appointed to make an investment decision about the assets of the AFF; and acting independently of members of the Council and those members' personal or political interests
Progress through Parliament
Have your say
This bill is open for public submissions to the Governance and Administration Committee. Anyone can tell the committee what they think, and you don’t need to be an expert. Submissions close 7 April 2025.
Bill text sourced from legislation.govt.nz (Parliamentary Counsel Office). Arapono’s summary and breakdown are drafted with AI grounded in that official text and reviewed by an Arapono editor for accuracy and neutrality before publishing. Arapono is non-partisan and takes no position on this bill.