The Government published the Valuation (Amendment) (No. 2) Bill, 2012 on 3rd August, 2012 as part of its legislative programme. The Bill proceeded through its second stage in Seanad Éireann on 11 October 2012. The primary purpose of the Bill is to accelerate the national programme of revaluing every commercial and industrial property in the country which is being undertaken by the Valuation Office.
Since the second stage debate was taken in Seanad Éireann, officials in my Department and the Valuation Office have engaged in an extensive consultation process on various aspects of the Bill with a range of stakeholders. The legislation is quite complex and every effort is being made to expedite the passage of the Bill. Engagement with the Parliamentary Counsel on committee stage amendments to the Bill is nearing completion in the light of the consultation that has taken place to date and I would hope to see the Bill returning for Committee Stage in the Seanad before the Summer recess.