17 October 2012 — Legislation to support overseas investment in energy efficient buildings, negotiated by the Greens as part of an agreement to pass the Government’s Withholding Tax reform, has been introduced into the House of Representatives. The Tax Laws Amendment (Clean Building Managed Investment Trust) Bill 2012 will apply a concessional 10 per cent rate for managed investment trusts that are comprised of new energy efficient buildings that meet 5 Star Green Star rating or 5 1/2 star NABERS energy commitment or higher, and where construction of buildings commences after 1 July 2012. Australian Greens leader Senator Christine Milne, said the Greens were always concerned to ensure that changing the withholding tax regime wouldn’t damage investment in energy efficient buildings, which often rely on global superannuation funds with high ethical standards to fund their construction. She said the legislation meant that government revenue was supported while investment in green buildings was encouraged.