First Nations Fiscal and Statistical Management Act (S.C. 2005, c. 9)
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Assented to 2005-03-23
First Nations Fiscal and Statistical Management Act
S.C. 2005, c. 9
Assented to 2005-03-23
An Act to provide for real property taxation powers of first nations, to create a First Nations Tax Commission, First Nations Financial Management Board, First Nations Finance Authority and First Nations Statistical Institute and to make consequential amendments to other Acts
SUMMARY
This enactment strengthens first nations’ real property tax regimes and creates a first nation bond financing regime, and creates four institutions to support those regimes, to promote first nations’ economic development and to strengthen first nations’ statistical capacity.
Preamble
Whereas the Government of Canada has adopted a policy recognizing the inherent right of self-government as an aboriginal right and providing for the negotiation of self-government;
Whereas this Act is not intended to define the nature and scope of any right of self-government or to prejudge the outcome of any self-government negotiation;
Whereas the creation of national aboriginal institutions will assist first nations that choose to exercise real property taxation jurisdiction on reserve lands;
Whereas economic development through the application of real property tax revenues and other local revenues to support borrowing on capital markets for the development of public infrastructure is available to other governments in Canada;
Whereas real property taxation regimes on reserves should recognize both the interests of on-reserve taxpayers and the rights of members of first nations communities;
Whereas accurate, timely and credible statistics are a key element of sound financial planning, management and reporting available to other governments in Canada;
Whereas first nations led an initiative that resulted in 1988 in an amendment to the Indian Act so that their jurisdiction over real property taxation on reserve could be exercised and the Indian Taxation Advisory Board was created to assist in the exercise of that jurisdiction;
Whereas, in 1995, the First Nations Finance Authority Inc. was incorporated for the purposes of issuing debentures using real property tax revenues and providing investment opportunities;
Whereas, by 1999, first nations and the Government of Canada recognized the benefits of establishing statutory institutions as part of a comprehensive fiscal and statistical management system;
And whereas first nations have led an initiative culminating in the introduction of this Act;
NOW, THEREFORE, Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
SHORT TITLE
Marginal note:Short title
1. This Act may be cited as the First Nations Fiscal and Statistical Management Act.
INTERPRETATION
Marginal note:Definitions
2. (1) The following definitions apply in this Act.
“borrowing member”
« membre emprunteur »
“borrowing member” means a first nation that has been accepted as a borrowing member under subsection 76(2) and has not ceased to be a borrowing member under section 77.
“council”
« conseil de la première nation »
“council” has the same meaning as “council of the band” in subsection 2(1) of the Indian Act.
“first nation”
« première nation »
“first nation” means
(a) in any provision of Part 5, a band; and
(b) in any other provision, a band named in the schedule.
“First Nations Finance Authority”
« Administration financière des premières nations »
“First Nations Finance Authority” means the corporation established under section 58.
“First Nations Financial Management Board”
« Conseil de gestion financière des premières nations »
“First Nations Financial Management Board” means the board established under subsection 38(1).
“First Nations Gazette”
« Gazette des premières nations »
“First Nations Gazette” means the publication published under section 34.
“First Nations Statistical Institute”
« Institut de la statistique des premières nations »
“First Nations Statistical Institute” means the institute established under section 91.
“First Nations Tax Commission”
« Commission de la fiscalité des premières nations »
“First Nations Tax Commission” means the commission established under subsection 17(1).
“local revenue law”
« texte législatif sur les recettes locales »
“local revenue law” means a law made under subsection 5(1).
“local revenues”
« recettes locales »
“local revenues” means moneys raised under a local revenue law.
“Minister”
« ministre »
“Minister” means the Minister of Indian Affairs and Northern Development.
“property taxation law”
« texte législatif relatif à l’imposition foncière »
“property taxation law” means a law made under paragraph 5(1)(a).
“third-party management”
Version anglaise seulement“third-party management” means the management of a first nation’s local revenues under section 53.
Marginal note:Indian Act definitions
(2) Unless the context otherwise requires, words and expressions used in this Act and not otherwise defined have the same meaning as in the Indian Act.
Marginal note:Amendments to schedule
(3) At the request of the council of a band, the Governor in Council may, by order, amend the schedule in order to
(a) add or change the name of the band; or
(b) delete the name of the band, as long as there are no amounts owing by the band to the First Nations Finance Authority that remain unpaid.
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