Indian Economic Development Act of 1991

[AI summary unavailable — showing source text] Indian Economic Development Act of 1991 - Title I: Designation and Tax Incentives - Amends the Internal Revenue Code to provide for the designation of Indian enterprise zones by the Secretary of the Interior for purposes of providing tax relief and increasing the economic stake of tribal residents in their community and its development. Sets forth eligibility requirements and required tribal commitments for such designations. Allows employers in Indian enterprise zones the following tax incentives: (1) an employment credit for wages and health insurance costs; (2) deferral of capital gain that is reinvested in such zones; (3) credit for investments in child care facilities; and (4) an income tax payment credit. Provides limitations for such incentives. Continues the authority for qualified small issue bonds for Indian enterprise zones. (Currently, such provisions expire December 31, 1991.) Removes the restrictions on tribal issuance of private activity bonds. Title II: Establishment of Foreign-Trade Zones in Indian Enterprise Zones - Requires the Foreign Trade Zone Board to consider on a priority basis, and to expedite the processing of applications for, the establishment of foreig…