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Tribal Economic Development Act of 2021

12/31/2022, 5:04 AM

Summary of Bill HR 4784

Bill 117 HR 4784, also known as the Tribal Economic Development Act of 2021, aims to promote economic growth and development in Native American tribal communities. The bill seeks to provide support and resources to tribal governments in order to help them create jobs, improve infrastructure, and increase economic opportunities for their members.

Specifically, the bill includes provisions for grants and loans to tribal governments for economic development projects, as well as technical assistance and training programs to help tribes build capacity and expertise in economic development. The bill also establishes a Tribal Economic Development Office within the Department of the Interior to coordinate federal resources and support for tribal economic development efforts.

Overall, the Tribal Economic Development Act of 2021 is designed to empower tribal governments to take control of their economic futures and create sustainable, long-term prosperity for their communities. By providing targeted support and resources, the bill aims to help tribes overcome barriers to economic development and achieve self-sufficiency.

Congressional Summary of HR 4784

Tribal Economic Development Act of 2021

This bill amends provisions relating to tribal economic development (TED) bonds issued to promote community development projects in Alaskan Indian tribal areas.

Specifically, the bill increases the national tribal economic development bond limitation to $4 billion. It also eliminates the requirement that TED bond proceeds be used solely on Indian reservations and permits bond proceeds to be used for economic development by any qualified Native user which includes any tribal entity, Alaska Native Corporation, and entity that is majority-owned and controlled by an Indian tribe or Alaska Native Corporation. The bill also allows third parties to guarantee the repayment of TED bonds.

Current Status of Bill HR 4784

Bill HR 4784 is currently in the status of Bill Introduced since July 28, 2021. Bill HR 4784 was introduced during Congress 117 and was introduced to the House on July 28, 2021.  Bill HR 4784's most recent activity was Referred to the House Committee on Ways and Means. as of July 28, 2021

Bipartisan Support of Bill HR 4784

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 4784

Primary Policy Focus

Taxation

Potential Impact Areas

- Alaska Natives and Hawaiians
- Business investment and capital
- Community life and organization
- Corporate finance and management
- Economic development
- Gambling
- Government lending and loan guarantees
- Housing and community development funding
- Indian social and development programs
- Securities
- State and local taxation

Alternate Title(s) of Bill HR 4784

To amend the Internal Revenue Code of 1986 to modify the rules for tribal economic development bonds.
Tribal Economic Development Act of 2021
Tribal Economic Development Act of 2021

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