109 HR 6301 IH: Tribal Economic Development and U.S. House of Representatives 2006-09-29 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.

I 109th CONGRESS 2d Session H. R. 6301 IN THE HOUSE OF REPRESENTATIVES September 29, 2006 Mr. Renzi introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend title VI of the Native American Housing and Self-Determination Act of 1996 to authorize Indian tribes to issue notes and other obligations to finance community and economic development activities, and for other purposes.

1.

Short title

This Act may be cited as the Tribal Economic Development and Infrastructure Support Act of 2006.

2.

Authority to use guarantee loans to finance community and economic development activities

(a)

Authority

Title VI of the Native American Housing and Self-Determination Act of 1996 (25 U.S.C. 4191 et seq.) is amended— (1)in the title heading, by inserting and community development after tribal housing; and (2)in section 601(a)— (A)by striking and after section 202 and inserting a comma; and (B)by inserting before the period at the end the following: , and activities that under the first sentence of section 108(a) of the Housing and Community Development Act of 1974 are eligible for financing with notes and other obligations guaranteed pursuant to such section 108. (b)

Low-income requirement

The Native American Housing and Self-Determination Act of 1996 is amended— (1)in section 201(b) (25 U.S.C. 4131(b))— (A)in paragraph (1), by inserting , other than under loan guarantee activities under title VI, after under this Act; (B)in paragraph (2)— (i)by striking the first comma and inserting or; (ii)by striking , or loan guarantee activities under title VI; (iii)by striking or title; and (iv)in the last sentence, by inserting after Act the following: (but not including amounts received as a result of a guarantee under title VI); (C)in paragraph (3), by inserting after Act the following: (but not including amounts received as a result of a guarantee under title VI); (D)by striking paragraph (5); and (E)by redesignating the first paragraph designated as paragraph (6) (relating to preference for tribal members and other Indian families) as paragraph (5); and (2)in section 601 (25 U.S.C. 4191), by adding at the end the following new subsection: (e)

Low-income requirement

Not less than 70 percent of the aggregate funds received by an Indian tribe or tribally designated housing entity as a result of a guarantee under this title shall be used for the support of activities that benefit low-income Indian families on Indian reservations and other Indian areas. .