Tribal Government Tax-Exempt Bond Fairness Act of 2003 - Amends the Internal Revenue Code to permit the issuance of tax-exempt bonds by an Indian tribal government 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 a gaming facility.
Amends the Securities Act of 1933 to exempt obligations issued by an Indian tribal government or subdivision from registration requirements.
Actions
Jul 31, 2003
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR 8/1/2003 S10648-10649)
Jul 31, 2003
Sponsor introductory remarks on measure. (CR S10648)