First Nations Fiscal Management Act Amendments Proposed in Canada

Crown-Indigenous Relations and Northern Affairs Canada

Today, C.T. (Manny) Jules, Chief Commissioner of the First Nations Tax Commission Harold Calla, Executive Chair of the First Nations Financial Management Board; Ernie Daniels, President and CEO of the First Nations Finance Authority; Allan Claxton, Chair of the First Nations Infrastructure Institute Development Board; and the Honourable Marc Miller, Minister of Crown-Indigenous Relations; announced new proposed amendments to the First Nations Fiscal Management Act, which were introduced in Parliament on March 23, 2023. The proposed amendments to the legislation were co-developed by the three First Nations-led institutions established under the Act (First Nations Tax Commission, First Nations Financial Management Board, and First Nations Finance Authority), and the First Nations Infrastructure Institute Development Board and the Government of Canada.

The legislation seeks to advance Indigenous self-determination and economic reconciliation. Under the First Nations Fiscal Management Act, First Nations can exercise jurisdiction over property taxation and financial management, and gain access to capital, which results in increasing their revenues, improved socio-economic conditions in their communities and opportunities to advance their visions of self-determination. Since the adoption of the First Nations Fiscal Management Act, 342 First Nations have chosen to participate under the Act, leading to the creation of jobs, the development of new and sustainable sources of revenues, and an overall strengthening of First Nations economies.

The First Nations Tax Commission’s mission is to assist First Nations governments in the exercise of their jurisdiction over local revenue systems, and to promote and support positive relationships between First Nations and their taxpayers. The First Nations Financial Management Board assists First Nations in strengthening their local financial management regimes to reflect their evolving needs and priorities to support good governance. The proposed amendments aim to expand and strengthen both mandates to reduce barriers and enhance access to capital and resources, to support communities as they explore and advance economic development opportunities.

In addition, the proposed amendments establish the First Nations Infrastructure Institute as a First Nations-led organization that will support interested First Nations and other Indigenous groups and organizations with the tools, capacity and best practices to support sustainable infrastructure and asset management.

The proposed amendments are consistent with the United Nations Declaration on the Rights of Indigenous Peoples and the Truth and Reconciliation Commission’s Call to Action 44, as they promote socio-economic development and advance economic reconciliation by strengthening Indigenous governance through institutional development. The Government of Canada and the First Nations-led institutions under the First Nations Fiscal Management Act will continue to work together to improve the support and tools provided to help First Nations strengthen their communities, build their economies and advance their visions of self-determination.

/Public Release. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).View in full here.