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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.
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.
Read the Full Bill
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
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 4784
Primary Policy Focus
TaxationPotential 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
Comments
Sponsors and Cosponsors of HR 4784
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