HR 3164 · 110th Congress · Taxation
Tribal Government Tax-Exempt Bond Parity Act of 2007
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.(2007-07-24)
Plain Language Summary
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Tribal Government Tax-Exempt Bond Parity Act of 2007 - Amends the Internal Revenue Code to permit the issuance of tax-exempt bonds by an Indian tribal government or subdivision 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 any part of a building in which class II or III gaming is conducted or housed or any other property actually used in the conduct of such gaming. 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 (5)
3 Democrats2 Republicans