First Nations Added to Fiscal Management Act

Summary#

This is the Order Amending the Schedule to the First Nations Fiscal Management Act (SOR/2023‑225). It adds Fox Lake, Louis Bull Tribe and Natoaganeg to the list of First Nations that can use the services under the First Nations Fiscal Management Act. The Order came into force on October 24, 2023.

What it does#

• Adds the names of Fox Lake, Louis Bull Tribe and Natoaganeg to the Schedule of the First Nations Fiscal Management Act.
• Allows those First Nations to access services from national institutions set up under the Act, including the First Nations Finance Authority, the First Nations Tax Commission and the First Nations Financial Management Board.
• Lets the added First Nations, if they choose,:
  • set up a property tax system under the Act (as an alternative to the authority they may already have under section 83 of the Indian Act),
  • seek certification of their financial performance and management systems, and
  • apply for access to a bond financing regime based on property-tax or other revenue streams.
• The change was made after each First Nation asked the Minister of Crown‑Indigenous Relations to be added.

Who's affected#

• The three named First Nations: Fox Lake, Louis Bull Tribe and Natoaganeg.
• Residents, property owners and local governments in those communities, if their leaders decide to introduce property taxes or other revenue tools under the Act.
• The national institutions under the Act (the First Nations Finance Authority, the First Nations Tax Commission, and the First Nations Financial Management Board) which will work with these communities.
• Other First Nations across Canada that may later request to be added to the Schedule (this Order does not automatically affect them).

Why it matters#

• Joining the Schedule gives these First Nations formal access to tools for raising local revenue, improving financial management, and borrowing for community projects.
• In practical terms, that can make it easier to fund local infrastructure and services, and to attract investment.
• It may also lead to new or changed local taxes (for example, property tax) if a community chooses to implement them.
• The Order is an administrative step responding to requests from the communities; it does not itself impose taxes or spending.