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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - Senate

Short Titles as Introduced

Inspiring Nationally Vibrant Economies Sustaining Tribes Act of 2020

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to amend the Internal Revenue Code of 1986 to expand the new markets tax credit to assist Native American communities, and for other purposes.

Actions Overview (1)

Date Actions Overview
01/09/2020Introduced in Senate

All Actions (1)

Date All Actions
01/09/2020Read twice and referred to the Committee on Finance.
Action By: Senate

Cosponsors (3)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Schatz, Brian [D-HI]* 01/09/2020
Sen. Hirono, Mazie K. [D-HI]* 01/09/2020
Sen. Sullivan, Dan [R-AK]* 01/09/2020

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Finance01/09/2020 Referred to

As of 04/05/2020 no related bill information has been received for S.3181 - Inspiring Nationally Vibrant Economies Sustaining Tribes Act of 2020

Subjects (1)

Latest Summary (1)

There is one summary for S.3181. View summaries

Shown Here:
Introduced in Senate (01/09/2020)

Inspiring Nationally Vibrant Economies Sustaining Tribes Act of 2020 or the INVEST Act

This bill expands the definition of low-income community for purposes of the new markets tax credit to include lands held in trust for Native Americans, lands that enclose all or part of a Native American village, or Indian tribal lands. It also prioritizes the allocation of credit amounts for investment in American Indian, Alaska Native, and Native Hawaiian communities and requires an allocation of at least 10% of credit amounts to certain Indian community development entities for investments that primarily serve low-income communities.

The bill directs the Bureau of Indian Affairs in the Department of the Interior to provide technical assistance to qualified Indian community development entities regarding applications for allocations of the new markets tax credit and to work with the Community Development Financial Institutions Fund to provide assistance to such entities.