Tribal Economic Assistance Act of 2017
Latest action · Oct 25, 2017 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.
- IntroducedOct 25, 2017
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 2
Members who signed on, in the order they did. All signed on Oct 25, 2017.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-ND | Heidi Heitkamp | Original | Oct 25, 2017 |
| R-AK | Lisa Murkowski | Original | Oct 25, 2017 |
Actions 2
Everything that happened, newest first.
- Oct 25, 2017Introduced in Senate
- Oct 25, 2017Read 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 |
|---|---|---|---|
| S 2675 | A bill to amend the Internal Revenue Code of 1986 to permanently extend the depreciation rules for property used predominantly within an Indian reservation. | Related bill | Apr 16, 2018 |
Subjects
Assigned by the Library of Congress. Policy area: 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
- Native Americans
- Sales and excise taxes
- Securities
- Tax administration and collection, taxpayers
- Wages and earnings
Text 1
Each version as it was printed, newest first.
- Oct 25, 2017Introduced 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.