S 2012
115th Congress
Senate
Native Americans
Building construction
Business investment and capital
Community life and organization
Economic development
Education programs funding
Educational facilities and institutions
Income tax credits
Income tax deductions
Indian social and development programs
Minority education
Minority employment
Sales and excise taxes
Securities
Tax administration and collection, taxpayers
Wages and earnings
Tribal Economic Assistance Act of 2017
Introduced: October 25, 2017
Introduced by:
Hoeven, John
Republican
· North Dakota
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 25, 2017
Read twice and referred to the Committee on Finance.
Oct 25, 2017
Introduced in Senate
Plain-English summary
Tribal Economic Assistance Act of 2017
This bill amends the Internal Revenue Code to extend and modify several tax provisions relating to Indian reservations.
The bill:
- repeals a provision that limits an Indian tribal government's eligibility for certain excise tax exemptions to transactions involving the exercise of an essential government function;
- makes permanent the special depreciation rules for property used predominantly within an Indian reservation;
- makes permanent the Indian employment tax credit;
- requires the Department of the Treasury to give priority to qualified low-income community investments on Indian reservations when allocating new markets tax credits; and
- allows qualified school construction bonds allocated for schools funded by the Bureau of Indian Affairs to be used for reasonable and necessary predevelopment costs directly associated with the construction, rehabilitation, or repair of a school.
The bill also amends the Indian Self-Determination and Education Assistance Act to establish a federal escrow account to carry out a qualified Indian school construction bond program for schools funded by the Bureau of Indian Affairs.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1