Northwest Territories Intergovernmental Resource Revenue Sharing Agreement Act (New)
This legislation was an important step towards implementing the Northwest Territories Lands and Resources Devolution Agreement and fulfilling the commitment made to reflect our Resource Revenue Sharing Agreement in legislation.
The Northwest Territories Intergovernmental Resource Revenue Sharing Agreement Act stands as a testament to the GNWT’s commitment to working with its Aboriginal government partners. Through devolution, the GWNT collects resource revenues from public lands under its administration and control. From the resource revenues retained by the territorial government, a share will be provided to participating Aboriginal governments.
This Resource Revenue Sharing Agreement provides direct benefits to Aboriginal governments for resource development activities throughout the onshore and allows Aboriginal governments to increase their own capacity.
This legislation fulfills a commitment made in the NWT Intergovernmental Resource Revenue Sharing Agreement that requires the GNWT to recommend legislation providing for the sharing of the net fiscal benefit. This reflects the vision of communities sharing in the benefits of a prosperous NWT, and the goal of a strong and independent North built on partnerships.