3.0.0 2012 2023-01-11T13:38:14Z 2023-01-11T13:38:14Z Senate S 2017-10-25 115 ssfi00 Finance Committee Senate Standing Referred to 2017-10-25T22:08:10Z A bill to amend the Internal Revenue Code of 1986 to permanently extend the depreciation rules for property used predominantly within an Indian reservation. 115 2675 S 2018-04-16 Read twice and referred to the Committee on Finance. Related bill CRS 2017-10-25 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2017-10-25 Introduced in Senate IntroReferral 10000 9 Library of Congress H001061 Sen. Hoeven, John [R-ND] John Hoeven R ND N M001153 Sen. Murkowski, Lisa [R-AK] Lisa Murkowski R AK 2017-10-25 True H001069 Sen. Heitkamp, Heidi [D-ND] Heidi Heitkamp D ND 2017-10-25 True Native Americans Building construction Business investment and capital Community life and organization Economic development Education programs funding Educational facilities and institutions Income tax credits Income tax deductions Indian social and development programs Minority education Minority employment Sales and excise taxes Securities Tax administration and collection, taxpayers Wages and earnings Native Americans 00 2017-10-25 Introduced in Senate 2018-05-14T15:56:36Z Tribal Economic Assistance Act of 2017

This bill amends the Internal Revenue Code to extend and modify several tax provisions relating to Indian reservations.

The bill:

  • repeals a provision that limits an Indian tribal government's eligibility for certain excise tax exemptions to transactions involving the exercise of an essential government function;
  • makes permanent the special depreciation rules for property used predominantly within an Indian reservation;
  • makes permanent the Indian employment tax credit;
  • requires the Department of the Treasury to give priority to qualified low-income community investments on Indian reservations when allocating new markets tax credits; and
  • allows qualified school construction bonds allocated for schools funded by the Bureau of Indian Affairs to be used for reasonable and necessary predevelopment costs directly associated with the construction, rehabilitation, or repair of a school.

The bill also amends the Indian Self-Determination and Education Assistance Act to establish a federal escrow account to carry out a qualified Indian school construction bond program for schools funded by the Bureau of Indian Affairs.

]]> Tribal Economic Assistance Act of 2017 Display Title Tribal Economic Assistance Act of 2017 Short Titles as Introduced Tribal Economic Assistance Act of 2017 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to make permanent the Indian Employment Credit and the depreciation rules for business property on Indian reservations, and for other purposes. Introduced in Senate 2017-10-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s2012is/xml/BILLS-115s2012is.xml 2017-10-25 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.