The First Nations Fiscal Management Act has established a strong, framework that enables the 239 First Nations that have opted in to the Act to implement taxation and fiscal management, and access long-term financing to support economic and infrastructure development in their communities. Amendments to the First Nations Fiscal Management Act have been developed with the fiscal institutions that operate under this Act, specifically the:

• First Nations Tax Commission,
• First Nations Financial Management Board, and
• First Nations Finance Authority.

The amendments are in response to legislative reviews, Senate reports, and input from member First Nations. The amendments will introduce clearer and simplified provisions; expand access to new participants; and enable the fiscal institutions to respond to the interests of First Nations across Canada. These proposed amendments will also enable the development of regulations to allow public service-centered Indigenous organizations, such as health or education authorities, to opt into the Act. Budget 2018 provided for additional operational funding to the three institutions operating under the Act.

This funding will enable the fiscal institutions to work with more First Nations to develop their capacity and have greater access to capital. The funding will also expand the institutions’ reach across the country, making them truly national in scope by opening four regional offices across the country: Winnipeg, Ottawa, Montreal and Halifax.