S. 2919 · 108th Congress
A bill to amend the Internal Revenue Code of 1986 to provide funding for Indian tribal prison facilities, and…
Full title
A bill to amend the Internal Revenue Code of 1986 to provide funding for Indian tribal prison facilities, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BaucusSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to allow a nonrefundable tax credit for investment in Indian tribal prison facility bonds. Requires that 95 percent of the proceeds of such bonds be used for the construction, acquisition, rehabilitation, expansion, or operating expenses of Indian tribal prison facilities and that the term of such bonds not exceed ten years.
What it does: CRS summary · Introduced in Senate · Oct 7, 2004
Amends the Internal Revenue Code to allow a nonrefundable tax credit for investment in Indian tribal prison facility bonds. Requires that 95 percent of the proceeds of such bonds be used for the construction, acquisition, rehabilitation, expansion, or operating expenses of Indian tribal prison facilities and that the term of such bonds not exceed ten years.
Establishes a national limitation for Indian tribal prison facility bonds in 2005 through 2007, with no limitation after 2007. Allows a carryover of unused bond limitation amounts to succeeding calendar years. Directs the Secretary of the Treasury to allocate bond amounts to Indian tribes based upon specified criteria, including overcrowding, the condition of existing facilities, the health and safety of both inmates and prison employees, and other financial resources available to an Indian tribe.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to amend the Internal Revenue Code of 1986 to provide funding for Indian tribal prison facilities, and for other purposes.
Latest action (Oct 7, 2004): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S10714-10715)
Policy area: Taxation · Origin: Senate · Introduced: Oct 7, 2004
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.