The draft plan would see it lobby political parties for slices of multiple tax pies in the lead up to the state election.

The changes could help localise a host of taxes and levies raised in central Victoria but not necessarily spent in the region.

That includes a new gold mining royalty that extracted $43 million dollars from mines like Costerfield and Fosterville's last financial year.

"As little as 20 per cent reinvested over a 10-year period would support major land rehabilitation and help heal 'upside-down Country' for Traditional Owner groups," council officers said in a new draft wish list.

The council currently raises $6.2 million for that landfill levy, which is set by the Environmental Protection Authority.

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Some of that cash could help the council finance the $500,000 the council currently earmarks for waste and education programs like the ones showing residents how to "put the right thing in the right bin".

"A 20 per cent reinvestment of waste levy funds in Greater Bendigo over five financial years would be $6.2 million, which would very nearly match our capital investment over the same period," council officers wrote.

They also want a slice of the incoming windfall gains tax that will apply to all land that will increase by $100,000 if it is rezoned.

The tax kicks in next July and is expected to affect people living on the edges of towns earmarked for population growth.

Council officers would like to see some of the money raised from Greater Bendigo revaluations pumped back into communities rising on rezoned land.

The wish list includes a host of other projects including the Bendigo Art Gallery redevelopment which needs state and federal funds before it can proceed.

The council could also push for a $15 million Chinese Dragon Museum revamp, $5 million for Central Deborah Gold Mine upgrades and $5.5 million for Bendigo Showground retools, along with a host of other ideas.

Councillors will discuss the draft wish list on the same night they will consider a separate draft Commonwealth Games prospectus revealed earlier this week.

That document - the first major one the council has released after five-months of intense closed door planning for the Games - revealed the showgrounds is increasingly seen as a major venue for 2026 but needs upgrades.

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