Indian School Construction Act
Latest action · Nov 15, 2007 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedNov 15, 2007
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Indian School Construction Act - Directs the Secretary of the Interior to establish a pilot program under which eligible Indian tribes have the authority to issue tribal school modernization bonds to provide funds for the construction, rehabilitation, and repair of tribal schools, including advance planning and design.
Permits a tribe to use amounts received through a bond issue to enter contracts: (1) for the design and engineering of the school; and (2) with financial advisors, underwriters, attorneys, trustees, and other professionals to provide assistance to the tribe in issuing bonds.
Makes any tribal school modernization bond issued by a tribe subject to a trust agreement.
Authorizes the Secretary to deposit not more than $50 million into a tribal school modernization escrow account and to accept additional amounts from other federal agencies and non-federal public or private sources.
Declares that no bond shall be an obligation of, nor shall payment of the principal be guaranteed by, the United States, the tribes, or their schools. Exempts from federal income tax any earnings through the investment of funds under the control of a trustee. Amends the Internal Revenue Code to allow a tax credit to individuals who hold such bonds.
Cosponsors 3
Members who signed on, in the order they did. Signatures ran from Nov 15, 2007 to Jul 30, 2008, with 1 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NM | Jeff Bingaman | Original | Nov 15, 2007 |
| D-HI | Daniel K. Inouye | Jan 23, 2008 | |
| R-MS | Thad Cochran | Jul 30, 2008 |
Actions 2
Everything that happened, newest first.
- Nov 15, 2007Introduced in Senate
- Nov 15, 2007Read twice and referred to the Committee on Finance.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 4243 | Indian School Construction Act | Related bill | Feb 5, 2008 |
Subjects
Assigned by the Library of Congress. Policy area: Native Americans.
Text 1
Each version as it was printed, newest first.
- Nov 15, 2007Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.