3.0.0 439 2019-06-21T11:06:08Z 2019-06-21T11:06:08Z Senate S S 2009-02-13 111 slia00 Indian Affairs Committee Senate Other Hearings by 2010-04-29T18:02:52Z Referred to 2009-02-13T20:46:39Z Indian Development Finance Corporation Act 111 1607 HR 2009-03-19 Referred to the House Committee on Natural Resources. Related bill CRS 2010-04-29 slia00 Indian Affairs Committee Senate Committee on Indian Affairs. Hearings held. Hearings printed: S.Hrg. 111-631. Committee 2009-02-13 slia00 Indian Affairs Committee Senate Read twice and referred to the Committee on Indian Affairs. (text of measure as introduced: CR S2326-2329) IntroReferral 2009-02-13 Sponsor introductory remarks on measure. (CR S2326) IntroReferral B00100 9 Library of Congress 2009-02-13 Introduced in Senate IntroReferral 10000 9 Library of Congress I000025 Sen. Inouye, Daniel K. [D-HI] DANIEL INOUYE D HI KEN N T000464 Sen. Tester, Jon [D-MT] Jon Tester D MT 2009-09-09 False Native Americans Business investment and capital Economic development Government corporations and government-sponsored enterprises Government lending and loan guarantees Indian social and development programs Minority and disadvantaged businesses Native Americans 00 2009-02-13 Introduced in Senate 2009-03-09T15:57:42Z Indian Development Finance Corporation Act - Establishes the Indian Development Finance Corporation to take certain actions, including: (1) providing development capital through financial services under this Act; (2) encouraging the development of new and existing Indian business enterprises eligible to receive assistance from the Corporation; and (3) otherwise assisting in strengthening Indian tribal economies through the development of Indian business enterprises.

Authorizes the Corporation to: (1) make loans or commitments for loans to any Indian business enterprise; (2) purchase, insure, or discount any obligation of an Indian business enterprise if the enterprise meets specified requirements; (3) purchase, or make commitments to purchase, any portion of the equity or ownership interest in the Indian business enterprise for purposes of providing long-term capital and working capital; and (4) supervise or participate in the management of an Indian business enterprise in which such an investment has been made.

Authorizes the Corporation to issue shares of stock. Requires the stock to be issued only to, and held only by, an Indian tribe or the federal government. Directs the Secretary of the Interior to: (1) initially subscribe to at least $20 million in stock and; and (2) beginning in FY2012, subscribe to $80 million in stock (unless the Corporation's board requests a smaller amount). Makes all stock subscribed to by the Secretary nonvoting and prohibits that stock from accruing dividends.

]]> Indian Development Finance Corporation Act Short Titles as Introduced Indian Development Finance Corporation Act Display Title Indian Development Finance Corporation Act Official Title as Introduced A bill to provide for and promote the economic development of Indian tribes by furnishing the necessary capital, financial services, and technical assistance to Indian-owned business enterprises, to stimulate the development of the private sector of Indian tribal economies, and for other purposes. Introduced in Senate 2009-02-13T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s439is/xml/BILLS-111s439is.xml 2010-04-29 Committee on Indian Affairs. Hearings held. Hearings printed: S.Hrg. 111-631. 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.