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HR 3164 110th Congress House Taxation Bonds Federal-Indian relations Finance and Financial Sector Minorities Native Americans Tribes and tribal system

Tribal Government Tax-Exempt Bond Parity Act of 2007

Introduced: July 24, 2007 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 24, 2007
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jul 24, 2007
Introduced in House
 Plain-English summary Congressional Research Service

Tribal Government Tax-Exempt Bond Parity Act of 2007 - Amends the Internal Revenue Code to permit the issuance of tax-exempt bonds by an Indian tribal government or subdivision if: (1) at least 95 percent of the net proceeds are used to finance facilities on an Indian reservation; or (2) the obligation is part of an issue substantially all of whose proceeds are to be used in the exercise of an essential government function. Excludes an obligation used to finance any part of a building in which class II or III gaming is conducted or housed or any other property actually used in the conduct of such gaming.

Amends the Securities Act of 1933 to exempt obligations issued by an Indian tribal government or subdivision from registration requirements.

What's happening now July 24, 2007

Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1