Finance committee  That's correct, Mr. Fast. It would go through the First Nations Finance Authority, which releases debentures on the markets in terms of then going back to the first nations to provide them with loans.

Finance committee  In terms of this specific amendment, while there hasn't been specific modelling related to it, we do know, on the revenues first nations can currently use to secure capital on the market, that they have been able to secure upwards of now almost $1.5 billion for their communities'

Finance committee  Mr. Fast, I don't have the specific answer to your question. It would depend on individual first nations and whether they chose to use these revenues to secure loans. I'm not sure if my colleague, Leane Walsh, would like to add anything.

Finance committee  Leane, can I ask you to address that?

Finance committee  There has been demand through the First Nations Finance Authority. The First Nations Finance Authority and its borrowing members have wanted this change for some time. I can't give you an exact number in terms of the number of first nations who want this currently, but they have

Finance committee  Thank you, Mr. Chair.

Finance committee  That's okay. So am I. My name is Garima Dwivedi. I'm the director general of indigenous institutions and governance modernization at Crown-Indigenous Relations and Northern Affairs Canada. I can speak to division 10, clause 193. I'd first like to acknowledge that I'm on the unc

Finance committee  That's correct. Currently, first nations cannot use revenues from, for example, the FNGST, the first nations goods and services tax, or the sales tax, to secure capital through the market, through the First Nations Finance Authority. This would remove a barrier for them to do th

Finance committee  These amendments are for first nations that have opted into the First Nations Fiscal Management Act. At the same time, we are working on regulations under section 141 of the First Nations Fiscal Management Act that will expand eligibility for other self-governing modern treaty fi

Finance committee  We're working on regulations under the First Nations Fiscal Management Act section 141 to expand eligibility to self-governing and modern treaty first nations. I'll turn it over to my colleague, Leane Walsh, to see if she'd like to add anything further.

Finance committee  For example, if a first nation wanted to build, let's say, a gas station or some other economic development type of activity, it could build that using the revenues from FNGST or FNST, and it could get a loan to build that through the First Nations Finance Authority and through t

Finance committee  Thank you. I will start with a brief overview. My name is Garima Dwivedi, and I'm from Crown-Indigenous Relations and Northern Affairs Canada. I'm the director general of indigenous institutions and governance modernization. I'm joined today by my colleagues, Leane Walsh and

Finance committee  Over 300 first nations have opted into the act, voluntarily.

Finance committee  That's correct. They have GST that's collected on their behalf through the CRA and given back to them, as well as the first nations sales tax. They would be able to use those revenues from the GST or the sales tax to borrow money through the First Nations Finance Authority for po