HISTORIC Revenue Sharing Agreement announced
The BC First Nations Gaming Revenue Sharing Limited Partnership is being formed as part of an historic agreement announced as part of the February 19, 2019 BC provincial budget. This agreement will redirect a portion of net provincial gaming revenues to BC First Nation communities.
The agreement was negotiated by the First Nations Gaming Commission under the authority of the First Nations Leadership Council, as mandated through resolutions passed by the BC Assembly of First Nations, the First Nations Summit, and the Union of BC Indian Chiefs.
The new limited partnership will be responsible for receiving, managing, distributing and reporting on the funds that will flow to BC First Nations as a result of the agreement. It is expected that the this agreement will be signed in July 2019 with revenues ready to be distributed in the second quarter of the fiscal year. All eligible BC First Nations will receive comprehensive information packages soon after the agreement is signed.
The current interim agreement has a 2 year term covering gaming revenue sharing, while the province and first nations work on finalizing the 25 year agreement.
7% of net gaming revenues will go to BC First Nation communities, estimated at $200 million over the first 2 years of the agreement
A limited partnership of BC First Nations has been created to receive, manage, distribute, and report on the funds
The limited partnership signed the revenue sharing agreement with British Columbia on August 2, 2019.
Funds can be invested in one or more of the following 6 categories:
Health and wellness
Infrastructure, safety, transportation and housing
Economic and business development
Education, language, culture and training
Community development and environmental protection
Capacity-building, fiscal management, and governance
Funds will be distributed to participating BC First Nation communities in accordance with the distribution formula:
50% base funding (divided equally among partnered and eligible BC First Nations)
40% based on registered population
10% for geographically remote communities
Eligible BC First Nations include:
Treaty First Nations
Self Governing First Nations Established by Statute