May 7, 2015 Ottawa, ON Aboriginal Affairs and Northern Development Canada
Today in the House of Commons, the Harper Government introduced Bill C-59, which includes amendments to the First Nations Fiscal Management Act.
The Act proposes amendments that would reduce red tape, better align the regime with provincial standards, streamline internal operations and enhance investor confidence.
Amendments would clarify and simplify various processes under the Act, ultimately making it easier for First Nations to opt-in to the Act, strengthening the regime and creating a more certain business environment for investors.
The introduction of these amendments stems from recommendations and consultations with the three First Nations-led institutions established under the legislation - the First Nations Tax Commission (FNTC); the First Nations Financial Management Board (FNFMB); and the First Nations Finance Authority (FNFA) - as well as with First Nations scheduled to the Act and those interested in opting-in.
The First Nations Fiscal Management Act has been very successful in improving economic opportunities and promoting greater self-sufficiency in First Nations communities who have opted-in and these amendments will contribute towards its continued success.
Emily Hillstrom
Press Secretary
Office of the Minister of Aboriginal Affairs and Northern Development
819-997-0002
Media Relations
Aboriginal Affairs and Northern Development Canada
819-953-1160
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