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S 1850 110th Congress Senate Taxation Bonds Economics and Public Finance Finance and Financial Sector Housing and Community Development Income tax Indian economic development Minorities Securities regulation Tax exemption

Tribal Government Tax-Exempt Bond Parity Act of 2007

Introduced: July 23, 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 23, 2007
Read twice and referred to the Committee on Finance.
Jul 23, 2007
Introduced in Senate
 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 the Indian reservation of such Indian tribal government; 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 23, 2007

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1