A new forestry revenue sharing model will more than double the amount of funding going to First Nations in BC.
Under the new model, First Nations will see an increase of $63 million in shared revenue, bringing the total to $121.8 million annually.
Retroactive to April 1st of this year, the increase is part of an interim model meant to fill the gaps as the province develops a new model alongside First Nations.
Shared funding totals are projected to increase by a further $9 million by the 2022-23 fiscal year.
So far, 126 out of 184 eligible First Nations in BC have signed Forest Consultation and Revenue Sharing Agreements.
With the development of the new plan expected to take roughly 2 years, the interim changes will remain in place until it can be completed.
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