Indian Employment and Investment Act of 1992

[AI summary unavailable — showing source text] Indian Employment and Investment Act of 1992 - Amends the Internal Revenue Code to establish an Indian reservation credit as an investment tax credit for investment in qualified Indian reservation property. Limits such credit to 25 percent for reservation personal property, 33 1/3 percent for new reservation construction property, and 33 1/3 percent for reservation infrastructure investment. Treats real estate rentals on an Indian reservation as the active conduct of a trade or business on such reservation. Declares that such credit applies only in the event that the Indian unemployment rate on the applicable reservation exceeds 300 percent of the national average unemployment rate at any time during the calendar year in which property is placed in service or during the immediately preceding two calendar years, with exceptions. Provides for the recapture of such credit in the event such reservation property ceases to be investment property. Sets forth rules with respect to adjusting the basis of such property to reflect the investment credit. Allows businesses an employment credit of ten percent (30 percent in the case of an employer with at least 85 percent Indian employees) of th…