S 1526 · 108th Congress · Taxation

Tribal Government Tax-Exempt Bond Fairness Act of 2003

Introduced 2003-07-31· Sponsored by Sen. Campbell, Ben Nighthorse [R-CO]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR 8/1/2003 S10648-10649)(2003-07-31)

Plain Language Summary

[AI summary unavailable — showing source text] Tribal Government Tax-Exempt Bond Fairness Act of 2003 - Amends the Internal Revenue Code to permit the issuance of tax-exempt bonds by an Indian tribal government if: (1) at least 95 percent of the net proceeds are used to finance facilities on an Indian reservation; or (2) the obligation is part of an issue substantially all of whose proceeds are to be used in the exercise of an essential government function. Excludes an obligation used to finance a gaming facility. Amends the Securities Act of 1933 to exempt obligations issued by an Indian tribal government or subdivision from registration requirements.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat
Sen. Inouye, Daniel K. [D-HI]HI