Sec. 3. Native American Business Development, Trade Promotion, and Tourism Act of 2000

1,311 words·~6 min read·/bill/116/hr/1937/ih/section-3

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 2 of the Native American Business Development, Trade Promotion, and Tourism Act of 2000 ( 25 U.S.C. 4301 ) is amended by adding at the end the following: The findings and purposes in subsections

(a)and

(b)shall apply to any Indian-owned business governed— by Tribal laws regulating trade or commerce on Indian lands; or pursuant to section 5 of the Act of August 15, 1876 (19 Stat. 200, chapter 289; 25 U.S.C. 261 ). . Section 3 of the Native American Business Development, Trade Promotion, and Tourism Act of 2000 ( 25 U.S.C. 4302 ) is amended— by redesignating paragraphs

(1)through

(6)and paragraphs

(7)through (9), as paragraphs

(2)through

(7)and paragraphs

(9)through (11), respectively; by inserting before paragraph

(2)(as redesignated by paragraph (1)) the following: The term Director means the Director of Native American Business Development appointed pursuant to section 4(a)(2). ; and by inserting after paragraph

(7)(as redesignated by paragraph (1)) the following: The term Office means the Office of Native American Business Development established by section 4(a)(1). . Section 4 of the Native American Business Development, Trade Promotion, and Tourism Act of 2000 ( 25 U.S.C. 4303 ) is amended— in subsection (a)— in paragraph (1)— by striking Department of Commerce and inserting Office of the Secretary ; and by striking (referred to in this Act as the ; and Office ) in paragraph (2), in the first sentence, by striking (referred to in this Act as the ; and Director ) by adding at the end the following: The Director shall serve as— the program and policy advisor to the Secretary with respect to the trust and governmental relationship between the United States and Indian Tribes; and the point of contact for Indian Tribes, Tribal organizations, and Indians regarding— policies and programs of the Department of Commerce; and other matters relating to economic development and doing business in Indian lands. The Director shall coordinate with all offices and agencies within the Department of Commerce to ensure that each office and agency has an accountable process to ensure— meaningful and timely coordination and assistance, as required by this Act; and consultation with Indian Tribes regarding the policies, programs, assistance, and activities of the offices and agencies. There are authorized to be appropriated to carry out this section not more than $2,000,000 for each fiscal year. . The Native American Business Development, Trade Promotion, and Tourism Act of 2000 is amended— by redesignating section 8 ( 25 U.S.C. 4307 ) as section 10; and by inserting after section 7 ( 25 U.S.C. 4306 ) the following: Not later than 1 year after the enactment of this section, the Secretary, the Secretary of the Interior, and the Secretary of the Treasury shall coordinate— to develop initiatives that— encourage, promote, and provide education regarding investments in Indian communities through— the loan guarantee program of Bureau of Indian Affairs under section 201 of the Indian Financing Act of 1974 ( 25 U.S.C. 1481 ); programs carried out using amounts in the Community Development Financial Institutions Fund established under section 104(a) of the Community Development Banking and Financial Institutions Act of 1994 ( 12 U.S.C. 4703(a) ); and other capital development programs; examine and develop alternatives that would qualify as collateral for financing in Indian communities; and provide entrepreneur and other training relating to economic development through tribally controlled colleges and universities and other Indian organizations with experience in providing such training; to consult with Indian Tribes and with the Securities and Exchange Commission to study, and collaborate to establish, regulatory changes necessary to qualify an Indian Tribe as an accredited investor for the purposes of sections 230.500 through 230.508 of title 17, Code of Federal Regulations (or successor regulations), consistent with the goals of promoting capital formation and ensuring qualifying Indian Tribes have the ability to withstand investment loss, on a basis comparable to other legal entities that qualify as accredited investors who are not natural persons; to identify regulatory, legal, or other barriers to increasing investment, business, and economic development, including qualifying or approving collateral structures, measurements of economic strength, and contributions of Indian economies in Indian communities through the Authority established under section 4 of the Indian Tribal Regulatory Reform and Business Development Act of 2000 ( 25 U.S.C. 4301 note); to ensure consultation with Indian Tribes regarding increasing investment in Indian communities and the development of the report required in paragraph (5); and not less than once every 2 years, to provide a report to Congress regarding— improvements to Indian communities resulting from such initiatives and recommendations for promoting sustained growth of the Tribal economies; results of the study and collaboration regarding the necessary changes referenced in paragraph

(2)and the impact of allowing Indian Tribes to qualify as an accredited investor; and the identified regulatory, legal, and other barriers referenced in paragraph (3). For assistance provided pursuant to section 108 of the Community Development Banking and Financial Institutions Act of 1994 ( 12 U.S.C. 4707 ) to benefit Native Community Development Financial Institutions, as defined by the Secretary of the Treasury, section 108(e) of such Act shall not apply. The Government Accountability Office shall conduct a study and, not later than 18 months after the date of enactment of this subsection, submit to the Committee on Indian Affairs of the Senate and the Committee on Natural Resources of the House of Representatives a report on the findings of the study and recommendations. The study shall include an assessment of each of the following: The study shall assess current Federal capitalization and related programs and services that are available to assist Indian communities with business and economic development, including manufacturing, physical infrastructure (such as telecommunications and broadband), community development, and facilities construction for such purposes. For each of the Federal programs and services identified, the study shall assess the current use and demand by Indian Tribes, individuals, businesses, and communities of the programs, the capital needs of Indian Tribes, businesses, and communities related to economic development, and the extent that similar programs have been used to assist non-Indian communities compared to the extent used for Indian communities. The study shall assess and quantify the extent of assistance provided to non-Indian borrowers and to Indian (both Tribal and individual) borrowers (including information about such assistance as a percentage of need for Indian borrowers and for non-Indian borrowers, assistance to Indian borrowers and to non-Indian borrowers as a percentage of total applicants, and such assistance to Indian borrowers as individuals as compared to such assistance to Indian Tribes) through the loan programs, the loan guarantee programs, or bond guarantee programs of the— Department of the Interior; Department of Agriculture; Department of Housing and Urban Development; Department of Energy; Small Business Administration; and Community Development Financial Institutions Fund of the Department of the Treasury. The study shall assess and quantify the extent of the assistance and allocations afforded for non-Indian projects and for Indian projects pursuant to each of the following tax incentive programs: New market tax credit. Low-income housing tax credit. Investment tax credit. Renewable energy tax incentives. Accelerated depreciation. The study shall assess various alternative incentives that could be provided to enable and encourage Tribal governments to invest in an Indian community development investment fund or bank. . The Native American Business Development, Trade Promotion, and Tourism Act of 2000 ( 25 U.S.C. 4301 et seq.) is amended— in section 3— in each of paragraphs (1), (4), and (8), by striking tribe and inserting Tribe ; and in paragraph (6), by striking The term and inserting Indian tribe has the meaning given that term The term ; Indian Tribe has the meaning given the term Indian tribe by striking tribes each place the term appears and inserting Tribes ; and by striking tribal each place the term appears and inserting Tribal .

Connectionstraces to 9

Traces to 9 documents

U.S. Code