H.R.1421 - Tribal Government Tax-Exempt Bond Fairness Act of 2003108th Congress (2003-2004)
|Sponsor:||Rep. Camp, Dave [R-MI-4] (Introduced 03/25/2003)|
|Committees:||House - Ways and Means|
|Latest Action:||03/25/2003 Referred to the House Committee on Ways and Means.|
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Summary: H.R.1421 — 108th Congress (2003-2004)All Bill Information (Except Text)
Tribal Government Tax-Exempt Bond Fairness Act of 2003 - Amends the Internal Revenue Code to permit the issuance of tax-exempt bonds by an Indian tribal government if: (1) at least 95 percent of the net proceeds are used to finance facilities on an Indian reservation; or (2) the obligation is part of an issue substantially all of whose proceeds are to be used in the exercise of an essential government function. Excludes an obligation used to finance a gaming facility.
Introduced in House (03/25/2003)
Amends the Securities Act of 1933 to exempt obligations issued by an Indian tribal government or subdivision from registration requirements.