S.1526 - Tribal Government Tax-Exempt Bond Fairness Act of 2003108th Congress (2003-2004)
|Sponsor:||Sen. Campbell, Ben Nighthorse [R-CO] (Introduced 07/31/2003)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 07/31/2003 Read twice and referred to the Committee on Finance. (All Actions)|
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Summary: S.1526 — 108th Congress (2003-2004)All 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 Senate (07/31/2003)
Amends the Securities Act of 1933 to exempt obligations issued by an Indian tribal government or subdivision from registration requirements.