H.R. 1607 · 111th Congress
Indian Development Finance Corporation Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
FaleomavaegaSponsor1 cosponsor · 1 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Indian Development Finance Corporation Act - Establishes the Indian Development Finance Corporation to provide development capital for new and existing Indian businesses and to strengthen tribal economies.
What it does: CRS summary · Introduced in House · Mar 19, 2009
Indian Development Finance Corporation Act - Establishes the Indian Development Finance Corporation to provide development capital for new and existing Indian businesses and to strengthen tribal economies.
Authorizes the Corporation to make loans to or purchase, insure, or discount obligations of Indian businesses if they meet specified financial conditions.
Directs the Corporation to provide the credit needed by Indian businesses at the lowest reasonable cost.
Authorizes the Corporation to guarantee all or any part of the principal and interest of any loan made to an Indian business by a state or federally chartered lending institution, provided the loan was made on terms permissible for Corporation loans.
Authorizes the Corporation to purchase all or any part of the ownership interest in an Indian business and to supervise or participate in the management of such business.
Establishes the Advisory Council to the Indian Development Finance Corporation to provide advice on the policies and operations of the Corporation.
Authorizes the Corporation to issue stock. Allows shares of stock in the Corporation to be issued to and held by Indian Tribes and the United States only.
Authorizes the Corporation to issue a limited amount of bonds and notes.
Authorizes appropriations for general operating expenses and for the purchase of Corporation stock by the Secretary.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Indian Development Finance Corporation Act
Latest action (Mar 19, 2009): Referred to the House Committee on Natural Resources.
Policy area: Native Americans · Origin: House · Introduced: Mar 19, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.