S. 3181 · 116th Congress
INVEST Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
MurkowskiSponsor3 cosponsors · 2 D, 1 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Inspiring Nationally Vibrant Economies Sustaining Tribes Act of 2020 or the INVEST Act
What it does: CRS summary · Introduced in Senate · Jan 9, 2020
Inspiring Nationally Vibrant Economies Sustaining Tribes Act of 2020 or the INVEST Act
This bill expands the definition of low-income community for purposes of the new markets tax credit to include lands held in trust for Native Americans, lands that enclose all or part of a Native American village, or Indian tribal lands. It also prioritizes the allocation of credit amounts for investment in American Indian, Alaska Native, and Native Hawaiian communities and requires an allocation of at least 10% of credit amounts to certain Indian community development entities for investments that primarily serve low-income communities.
The bill directs the Bureau of Indian Affairs in the Department of the Interior to provide technical assistance to qualified Indian community development entities regarding applications for allocations of the new markets tax credit and to work with the Community Development Financial Institutions Fund to provide assistance to such entities.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: INVEST Act
Also known as: Inspiring Nationally Vibrant Economies Sustaining Tribes Act of 2020
Latest action (Jan 9, 2020): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jan 9, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.