Minister for the Environment Phil Hogan has published a Bill to ensure that women make up 30% of party candidates in the next general election.
The long-awaited Bill has been welcomed by the 50:50 campaign group, but they say they want parity in Irish politics by the year 2020.
The figure will rise to 40% in seven years.
Just 25 women were elected to the Dáil in the last general election in February out of a total of 166 TDs. That is 15% - the highest percentage ever achieved.
However, Ireland ranks 22nd out of 27 when compared to our EU neighbours.
Sweden has the highest number of female representatives with 45%; Malta has the lowest with just over 8%.
Parties that do not comply will have their State funding cut in half.
The Bill will now go before the Dáil and Seanad and will be debated in the New Year.
