Adaptation Regulations (Proposed) for Indigenous Organizations pursuant to the First Nations Fiscal Management Act

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Title or working title of the regulatory initiative

Adaptation Regulations (Proposed) for Indigenous Organizations

Enabling act(s)

First Nations Fiscal Management Act

Description

The First Nations Fiscal Management Act (the Act) provides a First Nations-led legislative and institutional framework to enable First Nations to exercise jurisdiction in the areas of property taxation and financial management and to access financing on capital markets for infrastructure and economic development. Under section 141.1 of the act, adaption regulations can be drafted to allow entities owned or controlled by a First Nation, tribal council or a self-governing First Nation that promote the wellbeing of Indigenous people or Indigenous not-for-profit organizations established to provide public services (for example social welfare, housing, recreational, cultural, health or educational services) to become borrowing members of the First Nations Finance Authority and access financing under the act.

Several Indigenous organizations have expressed an interest in accessing financing under the Act via the adaptation regulations. The department will work with the First Nations Finance Authority, the First Nations Financial Management Board, the First Nations Tax Commission and interested organizations on the content and form of the adaptation regulations.

Regulatory cooperation efforts (domestic and international)

The department is working with the First Nations Finance Authority, the First Nations Financial Management Board, the First Nations Tax Commission and interested organizations on the content and form of the proposed regulations.

Potential impacts on Canadians, including businesses

There will be no impacts on businesses or Canadians. The proposed regulations will enable Indigenous entities and Indigenous not-for-profit organizations to opt into the act to access financing through the First Nations Finance Authority as borrowing members. The purpose of the proposed regulations will be to provide Indigenous organizations, delivering a public service, access to financing from capital markets to better deliver on their mandate. Organizations such as Indigenous Health Authorities, Indigenous Education Authorities, Tribal Councils, Indigenous Water Authorities and Indigenous Housing Authorities may be engaged in the development of the proposed regulations.

Consultations

The department is working with the First Nations Finance Authority, the First Nations Financial Management Board, the First Nations Tax Commission and interested organizations on the content and form of the proposed regulations. Once the policy approach is finalized with partners, the department will prepare a consultation draft and then undertake a broader engagement during the 2024-2025 period.

Further information

Not applicable.

Departmental contact information

Andrea Dykstra
Director
Fiscal Policy and Investment Readiness Directorate
Indigenous Institutions and Governance Modernization Branch
Resolution and Partnerships Sector
Tel.: 343-596-4150
Email: andrea.dykstra@rcaanc-cirnac.gc.ca

The date the regulatory initiative was first included in the Forward Regulatory Plan

April 2019

Find out more

Consult Crown-Indigenous Relations and Northern Affairs Canada's Laws and Regulations web page for:

Consult the following for links to the Cabinet Directive on Regulation and supporting policies and guidance, and for information on government-wide regulatory initiatives implemented by departments and agencies across the Government of Canada:

To learn about upcoming or ongoing consultations on proposed federal regulations, visit:

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