Sec. 90701. Treatment of Indian Tribes as States with respect to bond issuance
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/bill/116/hr/2/eh/section-90701·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subsection
(c)of section 7871 is amended to read as follows: In applying section 146 to bonds issued by Indian Tribal Governments the Secretary shall annually— establish a national bond volume cap based on the greater of— the State population formula approach in section 146(d)(1)(A) (using national Tribal population estimates supplied annually by the Department of the Interior in consultation with the Census Bureau), and the minimum State ceiling amount in section 146(d)(1)(B) (as adjusted in accordance with the cost of living provision in section 146(d)(2)), allocate such national bond volume cap among all Indian Tribal Governments seeking such an allocation in a particular year under regulations prescribed by the Secretary. In the case of national bond volume cap allocated under paragraph (1), section 146(k)(1) shall not apply to the extent that such cap is used with respect to financing for a facility located on qualified Indian lands. For purposes of this subsection— The term Indian Tribal Government means the governing body of an Indian Tribe, band, nation, or other organized group or community which is recognized as eligible for the special programs and services provided by the United States to Indians because of their status as Indians, and also includes any agencies, instrumentalities or political subdivisions thereof. In any case in which an Indian Tribal Government has authorized an intertribal consortium, a Tribal organization, or an Alaska Native regional or village corporation, as defined in, or established pursuant to, the Alaska Native Claims Settlement Act, to plan for, coordinate or otherwise administer services, finances, functions, or activities on its behalf under this subsection, the authorized entity shall have the rights and responsibilities of the authorizing Indian Tribal Government only to the extent provided in the Authorizing resolution. The term qualified Indian lands shall mean an Indian reservation as defined in section 3(d) of the Indian Financing Act of 1974 ( 25 U.S.C. 1452(d) ), including lands which are within the jurisdictional area of an Oklahoma Indian Tribe (as determined by the Secretary of the Interior) and shall include lands outside a reservation where the facility is to be placed in service in connection with the active conduct of a trade or business by an Indian Tribe on or near an Indian reservation or Alaska Native village or in connection with infrastructure (including roads, power lines, water systems, railroad spurs, and communication facilities) serving an Indian reservation or Alaska Native village. . Section 7871 is amended— by striking subsections
(b)and (e), and by striking subject to subsection (b), in subsection (a)(2). Subparagraph
(B)of section 45(c)(9) is amended to read as follows: For purposes of this paragraph, the term Indian tribe has the meaning given the term Indian Tribal Government by section 7871(c)(3)(A). . Except as otherwise provided in this subsection, the amendments made by this section shall apply to obligations issued in calendar years beginning after the date of the enactment of this Act. The amendments made by subsection
(b)shall apply to transactions after, and obligations issued in calendar years beginning after, the date of the enactment of this Act.
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Sec. 90701
Treatment of Indian Tribes as States with respect to bond issuance
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