The Turnbull government is making a second attempt to relax advertising restrictions on SBS.
Legislation, introduced on Wednesday, aims to allow the broadcaster up to 10 minutes of ads per hour, instead of the present limit of five - whilst keeping the existing daily cap of 120 minutes.
It would also allow SBS to earn revenue through product placement, with the package estimated to put more than $27 million back in its kitty over four years.
Labor, the Greens and some crossbenchers voted down previous legislation in June 2015.
It would have gone some way to making up for $53 million in funding cuts announced in the 2014 budget, with the government having to give SBS more than $4 million in last year's mid-year update to replace the slated revenue.
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"While this amendment may on the face appear to be generous, the existing 120 minute daily cap is well below the commercial broadcasters who enjoy a maximum of 350 minutes per day," Mr Fletcher said.
"The additional revenue earned from these advertising measures will put SBS in a better position to keep up with the changing face of Australia."
Managing director Michael Ebeid has admitted the defeat of the original bill would have resulted in an impact on services.
