H.R. 727 · 111th Congress
Indian School Construction 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
PomeroySponsor2 cosponsors · 1 D, 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in House · Jan 27, 2009
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 nonfederal 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Indian School Construction Act
Latest action (Jan 27, 2009): Referred to House Natural Resources
Policy area: Native Americans · Origin: House · Introduced: Jan 27, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.