3.0.0 594 2023-01-15T22:48:19Z 2023-01-15T22:48:19Z Senate S S 2003-03-11 108 ssfi00 Finance Committee Senate Standing Referred to 2003-03-11T22:33:54Z 2003-03-11 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2003-03-11 Sponsor introductory remarks on measure. (CR S3517-3518) IntroReferral B00100 9 Library of Congress 2003-03-11 Introduced in Senate IntroReferral 10000 9 Library of Congress J000177 Sen. Johnson, Tim [D-SD] TIM JOHNSON D SD N D000064 Sen. Daschle, Thomas A. [D-SD] THOMAS DASCHLE D SD ANDREW 2003-03-11 True C000077 Sen. Campbell, Ben Nighthorse [R-CO] BEN CAMPBELL R CO NIGHTHORSE 2003-03-11 True C000567 Sen. Cochran, Thad [R-MS] Thad Cochran R MS 2003-03-11 True M001111 Sen. Murray, Patty [D-WA] Patty Murray D WA 2003-03-11 True Native Americans Bonds Building construction Construction costs Economics and Public Finance Education Elementary and secondary education Finance and Financial Sector Government securities Income tax Indian education Maintenance and repair Minorities Mutual funds Planning School buildings Secondary education Tax credits Taxation Native Americans 00 2003-03-11 Introduced in Senate 2006-11-28T17:35:40Z Permits a tribe to use amounts received through a bond issue to enter contracts: (1) for the design and engineering of the school; and (2) with financial advisors, underwriters, attorneys, trustees, and other professionals who would be able to provide assistance to the tribe in issuing bonds.

Makes any tribal school modernization bond issued by a tribe subject to a trust agreement.

Authorizes the Secretary to deposit not more than $30 million each fiscal year into a tribal school modernization escrow account beginning in FY 2004 from amounts made available for school replacement under the construction account of the Bureau of Indian Affairs. Requires the Secretary to use any amounts deposited to make payments to trustees or for advance planning and design.

Declares that no bond shall be an obligation of, nor shall payment of the principal be guaranteed by, the United States, the tribes, or their schools. Exempts from Federal income tax any earnings through the investment of funds under the control of a trustee. Amends the Internal Revenue Code to allow a tax credit to individuals who hold such bonds.]]>

Indian School Construction Act Display Title Indian School Construction Act Official Title as Introduced A bill to provide for the issuance of bonds to provide funding for the construction of schools of the Bureau of Indian Affairs, and for other purposes. Introduced in Senate IS Short Titles as Introduced Indian School Construction Act Introduced in Senate 2003-03-11T05:00:00Z 2003-03-11 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.