The Government has published the legislation underpinning the Future Ireland Fund and the Infrastructure, Climate and Nature Fund.
This follows the publication of the General Scheme of the Bill last October.
In Budget 2024, the Government announced that it would establish the two new funds.
The Future Ireland Fund will help deal with future expenditure pressures including ageing, climate, digitalisation and other fiscal and economic challenges.
The Government said its purpose is to support in a "consistent and sustainable" manner, State expenditure from 2041 onwards.
"It is intended that it will support expenditure in areas that have been identified as likely demands on the public finances," the Government said in a statement.
Annual contributions will be made to the Future Ireland Fund from 2024 until 2035, after which further contributions can be provided through a Dáil resolution. There is no limit on the potential size of this Fund.
For each year from 2024 to 2035, the Government said 0.8% of GDP will be invested in the Fund.
Around €4.1 billion will also be transferred from the dissolution of the National Reserve Fund in 2024.
"With annual contributions, GDP growth and potential return from investments, there is a potential for the fund to grow to around €100 billion by 2035, which will give the State substantial firepower to manage the increased demands on expenditure in the decades ahead," said Minister for Finance, Michael McGrath.
The Infrastructure, Climate and Nature Fund aims to deal with the pro-cyclicality of public spending and to assist with climate change objectives and nature, water quality and biodiversity issues.
The Fund will provide for resources for spending in a future downturn to support expenditure through the economic and fiscal cycle and to support designated environmental projects.
The Government plans to invest €2 billion in this fund each year from 2024 to 2030.
"The Fund will provide support for the economy in times of exceptional need, helping to smooth the investment cycle and avoid the 'stop-start' public capital investment that we have experienced in the past," said Paschal Donohoe, Minister for Public Expenditure, NDP Delivery and Reform.
"It will also invest in the transition to a low carbon economy, with €3.15 billion being set aside specifically to invest in environmental projects that address climate change issues and nature and water quality degradation over the period 2026 to 2030," he added.
