First Nations Fiscal Management Act
{{Italic title}}
{{Short description|Canadian federal legislation}}
{{Infobox legislation
| legislature = Parliament of Canada
| long_title = An Act to provide for powers of First Nations respecting taxation, financial administration and the provision of services on reserve lands, to facilitate First Nations’ access to financing secured by local revenues or other revenues, to establish a First Nations Tax Commission, First Nations Financial Management Board, First Nations Finance Authority and First Nations Infrastructure Institute and to make consequential amendments to other Acts
| citation = S.C. 2005, c. 9
| image = Royal Coat of arms of Canada.svg
| imagesize = 130px
| date_assented = 2005-03-23
| date_repealed =
| 1st_reading = 2004-12-13
| 2nd_reading = 2005-02-16
| 3rd_reading = 2005-03-21
| 1st_reading2 = 2004-12-13
| 2nd_reading2 = 2004-12-13
| 3rd_reading2 = 2004-12-10
| repealed_by =
| related_legislation =
| status = in force
}}
The First Nations Fiscal Management Act is an act of the Parliament of Canada enacted to allow First Nations to become members of the First Nations Finance Authority and borrow money.{{Cite news |last=McCarthy |first=Shawn |date=2023-03-21 |title=First Nations leaders urge Ottawa to cut red tape to build needed infrastructure |url=https://www.corporateknights.com/leadership/first-nations-leaders-urge-ottawa-to-cut-red-tape-to-build-needed-infrastructure/ |url-status=live |archive-url=https://web.archive.org/web/20230321162342/https://www.corporateknights.com/leadership/first-nations-leaders-urge-ottawa-to-cut-red-tape-to-build-needed-infrastructure/ |archive-date=2023-03-21 |access-date=2025-04-27 |work=Corporate Knights}}{{Cite news |last=Clarke |first=Allan |date=2018-12-12 |title=First Nations should have control of their own revenues |url=https://policyoptions.irpp.org/magazines/december-2018/first-nations-control-revenues/ |url-status=live |archive-url=https://web.archive.org/web/20210423130320/https://policyoptions.irpp.org/magazines/december-2018/first-nations-control-revenues/ |archive-date=2021-04-23 |access-date=2025-04-27 |work=Policy Options |publisher=Institute for Research on Public Policy}}
Provisions
The act establishes the First Nations Finance Authority, a "finance broker".{{Cite news |last=Trembley |first=Connor |date=2019-10-29 |title=Westbank-based financial broker raises $170 million bond for 22 First Nations |url=https://www.kelownacapnews.com/news/westbank-based-financial-broker-raises-170-million-bond-for-22-first-nations-3189948 |url-status=live |archive-url=https://web.archive.org/web/20250427190230/https://www.kelownacapnews.com/news/westbank-based-financial-broker-raises-170-million-bond-for-22-first-nations-3189948 |archive-date=2025-04-27 |access-date=2025-04-27 |work=Kelowna Capital News}} The First Nation Finance Authority can then issue bonds for the First Nations under its authority.
Application
Reception
The act has been criticised for excessive centralisation by Policy Options, before the 2023 amendments, but the amendments were supported.
Further developments and amendments
In 2023, the act was amended by Bill C-45 to "monetize capital dollars" spent by the federal government.{{Cite news |last=Reeve |first=Michael |date=2023-04-21 |title=‘One of the critical steps’: Bill C-45 to further economic reconciliation with First Nations communities |url=https://cfjctoday.com/2023/04/21/one-of-the-critical-steps-bill-c-45-to-further-economic-reconciliation-with-first-nations-communities/ |url-status=live |archive-url=https://web.archive.org/web/20230428122933/https://cfjctoday.com/2023/04/21/one-of-the-critical-steps-bill-c-45-to-further-economic-reconciliation-with-first-nations-communities/ |archive-date=2023-04-28 |access-date=2025-04-27 |work=CFJC Today}}
During the 2025 Canadian federal election, the Conservative Party announced plans for a "permanent funding stream" for housing under the act.{{Cite news |date=2025-04-22 |title=Poilievre addresses the Assembly of First Nations on natural resources, campaign plan |url=https://www.ctvnews.ca/federal-election-2025/article/poilievre-to-address-assembly-of-first-nations-on-clean-drinking-water-policing/ |url-status=live |archive-url=https://web.archive.org/web/20250422213315/https://www.ctvnews.ca/federal-election-2025/article/poilievre-to-address-assembly-of-first-nations-on-clean-drinking-water-policing/ |archive-date=2025-04-22 |access-date=2025-04-27 |work=CTV News}}