The government has established a fund to support young people in the country's rainbow community.
It is proposing to set up a charitable trust for the Rainbow Wellbeing Legacy Fund, with a one-off endowment of $1 million.
The trust will administer the payment of grants to organisations which improve mental health and wellbeing in rainbow communities, focusing on supporting young people.
The Government said the fund also acknowledged those convicted for homosexual acts before the law was changed in 1986.
In 2017, the Government apologised for criminalising Rainbow communities, and passed legislation last year to allow for convictions to be wiped.
Minister of Finance Grant Robertson said, in the wake of this, the suggestion was made by some of the men involved that a fitting legacy would be to establish a fund that supports the young people of the Rainbow community.
"That is exactly what this fund will do," he said.
The chief executive at Rainbow Youth, Frances Arns, said they were stoked by the fund, which was announced at their 30th anniversary on Thursday.
Ms Arns said more needs to be done in health care, peer support and mental health services, as well as education system to support people from the rainbow community.
She also hoped the fund will continue to grow and also be available for older people in the community.