,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #gjjj  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,septemb] #bh1        
#bjah,mrs4 ,noem introduc$ ! foll[+     
bill2 :i* 0 ref]r$ to ! ,committee on   
,ways & ,means1 & 9 addition to !       
,committee on ,f9ancial ,s]vices1 = a   
p]iod to be subsequ5tly det]m9$ by !    
,speak]1 9 ea* case = consid]ation ( su*
 provisions z fall )9 ! jurisdiction ( !
 committee conc]n$  ,a ,,bill  ,to am5d 
! ,int]nal ,rev5ue ,code ( #aihf to     
provide = increas$ economic             
opportunities = ,native ,am]ican tribes1
 & = o!r purposes4  #a4 ,%ort title ,?is
 ,act may be cit$ z ! ,tribal ,tax      
,emp[]m5t & ,jobs ,act ( #bjah4  #b4    
,treatm5t ( ,indian ,tribes z ,/ates )  
respect to c]ta9 excise taxes & bond    
issuances  7a7 ,9 g5]al ,section #ghga (
 ! ,int]nal ,rev5ue ,code ( #aihf is    
am5d$ by /rik+ subsections 7b71 7c71 &  
7e74  7b7 ,con=m+ am5dm5ts  7#a7        
,section #ghga7;a77#b7 ( su* ,code is   
am5d$ by /rik+ subject to subsection    

7b714  7#b7 ,section #de7;c77#i77;,b7 ( 
su* ,code is am5d$ by ins]t+ 7z 9 effect
 be=e ! date ( ! enactm5t ( ! ,tribal   
,tax ,emp[]m5t & ,jobs ,act ( #bjah7    
aft] section #ghga7;c77#c77;,e77ii74    
7c7 ,effective date ,! am5dm5ts made by 
?is section %all apply to transactions  
aft]1 & obligations issu$ 9 cal5d> ye>s 
beg9n+ aft]1 ! date ( ! enactm5t ( ?is  
,act4  #c4 ,indian tribal gov]nm5ts     
p]mitt$ to be %>ehold]s ( s corporations
  7a7 ,9 g5]al ,section #acfa7;c77#f7 ( 
! ,int]nal ,rev5ue ,code ( #aihf is     
am5d$ by /rik+ & at ! end ( subp>agraph 
7,a71 by ins]t+ & at ! end ( subp>agraph
 7,b71 & by ins]t+ aft] subp>agraph 7,b7
 ! foll[+3  7,c7 an ,indian tribal      
gov]nm5t 7z def9$ 9 section             
#ggja7;a77#dj7 & includ+ any subdivision
 ( su* gov]nm5t & any ag5cy or          
in/rum5tality ( su* gov]nm5t or         
subdivision71  4  7b7 ,effective date ,!
 am5dm5ts made by ?is section %all apply
 to taxable ye>s end+ aft] ! date ( !   
enactm5t ( ?is ,act4  #d4 ,int]ag5cy    

coord9ation ,n lat] ?an #a ye> aft] !   
enactm5t ( ?is section1 ! ,secret>y ( ! 
,int]ior & ! ,secret>y ( ! ,treasury    
%all coord9ate to consult ) ,indian     
tribes & ) ! ,securities & ,ex*ange     
,commission to /udy1 & collaborate to   
e/abli% regulatory *anges necess>y to   
qualify an ,indian tribe z an accr$it$  
inve/or = ! purposes ( sections #bcj4ejj
 ?r\gh #bcj4ejh ( title #ag1 ,code (    
,f$]al ,regulations 7or successor       
regulations71 consi/5t ) ! goals (      
promot+ capital =mation & ensur+        
qualify+ ,indian tribes h ! ability to  
)/& inve/m5t loss1 on a basis comp>able 
to o!r legal entities t qualify z       
accr$it$ inve/ors :o are n natural      
p]sons4  #e4 ,mak+ p]man5t ! ,indian    
employm5t cr$it & depreciation rules =  
bus9ess prop]ty on ,indian res]vations  
7a7 ,indian employm5t cr$it  7#a7 ,9    
g5]al ,section #de;,a ( ! ,int]nal      
,rev5ue ,code ( #aihf is am5d$ by /rik+ 
subsection 7f74  7#b7 ,effective date ,!
 am5dm5t made by ?is subsection %all    

apply to taxable ye>s beg9n+ aft]       
,decemb] #ca1 #bjaf4  7b7 ,accel]at$    
depreciation = bus9ess prop]ty on an    
,indian res]vation  7#a7 ,9 g5]al       
,section #afh7;j7 ( ! ,int]nal ,rev5ue  
,code ( #aihf is am5d$ by /rik+ p>agraph
 7#i74  7#b7 ,effective date ,! am5dm5t 
made by ?is subsection %all apply to    
prop]ty plac$ 9 s]vice aft] ,decemb]    
#ca1 #bjag4  #f4 ,priority "u new m>kets
 tax cr$it = qualifi$ l[-income         
community inve/m5ts on ,indian          
res]vations  7a7 ,9 g5]al ,p>agraph 7#b7
 ( section #de;,d7f7 ( ! ,int]nal       
,rev5ue ,code ( #aihf is am5d$ by /rik+ 
or at ! end ( subp>agraph 7,a71 by /rik+
 ! p]iod at ! end ( subp>agraph 7,b7 &  
ins]t+ 1 or1 & by add+ at ! end ! foll[+
 new subp>agraph3  7,c7 :i* int5ds to   
make qualifi$ l[-income community       
inve/m5ts )9 a res]vation1 includ+ any  
su* entity e/abli%$ by a tribe or an    
economic ent]prise :i* int5ds to make   
su* inve/m5ts )9 a res]vation4  4  7b7  
,def9itions ,section #de;,d7f7 ( su*    

,code is am5d$ by add+ at ! end !       
foll[+3  7#d7 ,def9itions ,= purposes ( 
subp>agraph 7,c7 ( p>agraph 7#b71 ! t]ms
 res]vation1 tribe1 & economic ent]prise
 %all h ! same mean+s giv5 su* t]ms "u  
section #c ( ! ,indian ,f9anc+ ,act (   
#aigd 7#be ,u4,s4,c4 #adeb74  4  7c7    
,effective date ,! am5dm5ts made by ?is 
section %all apply to cal5d> ye>s beg9n+
 aft] ,decemb] #ca1 #bjag4  #g4         
,l[-income h\s+ cr$it  7a7 ,selection   
crit]ia "u qualifi$ allocation plans    
7#a7 ,9 g5]al ,subp>agraph 7,c7 (       
section #db7m77#a7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by /rik+ & at !  
end ( clause 7ix71 by /rik+ ! p]iod at !
 end ( clause 7x7 & ins]t+ 1 &1 & by    
add+ at ! end ! foll[+ new clause3  7xi7
 ! af=dable h\s+ ne$s ( individuals 9 ! 
,/ate :o are memb]s ( ,indian tribes 7z 
def9$ 9 section #de;,a7c77#f774  4  7#b7
 ,effective date ,! am5dm5ts made by    
subsection 7a7 %all apply to allocations
 ( cr$its "u section #db ( su* ,code    
made aft] ,decemb] #ca1 #bjah4  7b7     

,inclusion ( ,indian areas z difficult  
developm5t areas = purposes ( c]ta9     
build+s  7#a7 ,9 g5]al ,subclause 7,i7 (
 section #db7;d77#e77;,b77iii7 ( su*    
,code is am5d$ by ins]t+ be=e ! p]iod ! 
foll[+3 1 & any ,indian area4  7#b7     
,indian area ,clause 7iii7 ( section    
#db7;d77#e77;,b7 ( su* ,code is am5d$ by
 r$esignat+ subclause 7,,ii7 z subclause
 7,,iii7 & by ins]t+ aft] subclause 7,i7
 ! foll[+ new subclause3  7,,ii7 ,indian
 area ,= purposes ( subclause 7,i71 !   
t]m #8,indian area' means any ,indian   
area 7z def9$ 9 section #d7aa7 ( !      
,native ,am]ican ,h\s+ ,assi/ance &     
,self ,det]m9ation ,act ( #aiif 7#be    
,u4,s4,c4 #dajc7aa774  4  7#c7 ,eligible
 build+s ,clause 7iii7 ( section        
#db7;d77#e77;,b7 ( su* ,code1 z am5d$ by
 p>agraph 7#b71 is am5d$ by add+ at !   
end ! foll[+ new subclause3  7,,iv7     
,special rule = build+s 9 ,indian areas 
,9 ! case ( an area :i* is a difficult  
developm5t area solely because x is an  
,indian area1 a build+ %all n be treat$ 

z locat$ 9 su* area unless su* build+ is
 assi/$ or f9anc$ "u ! ,native ,am]ican 
,h\s+ ,assi/ance & ,self ,det]m9ation   
,act ( #aiif 7#be ,u4,s4,c4 #daja et    
seq47 or ! project sponsor is an ,indian
 tribe 7z def9$ 9 section               
#de;,a7c77#f771 a tribally designat$    
h\s+ entity 7z def9$ 9 section #d7bb7 ( 
su* ,act 7#be ,u4,s4,c4 #dajc7bb7771 or 
:olly own$ or controll$ by su* an       
,indian tribe or tribally designat$ h\s+
 entity4  4  7#d7 ,effective date ,!    
am5dm5ts made by ?is subsection %all    
apply to build+s plac$ 9 s]vice aft]    
,decemb] #ca1 #bjah4  #h4 ,recogniz+    
,indian tribal gov]nm5ts = purposes (   
det]m9+ "u ! adoption cr$it :e!r a *ild 
has special ne$s  7a7 ,9 g5]al ,section 
#bc7;d77#c7 ( ! ,int]nal ,rev5ue ,code (
 #aihf 7def9+ *ild ) special ne$s7 is   
am5d$--  7#a7 9 subp>agraph 7,a71 by    
ins]t+ or ,indian tribal gov]nm5t 7z    
def9$ 9 section #ggja7;a77#dj7 & includ+
 any subdivision ( su* gov]nm5t & any   
ag5cy or in/rum5tality ( su* gov]nm5t or

 subdivision7 aft] a ,/ate2 &  7#b7 9   
subp>agraph 7,b71 by ins]t+ or ,indian  
tribal gov]nm5t aft] su* ,/ate4  7b7    
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ! date ( ! enactm5t ( ?is   
,act4  #i4 ,p>ity = ,indian ,heal?      
,s]vice pr(essionals  7a7 ,exclusion f  
gross income = paym5ts made "u ,indian  
,heal? ,s]vice loan repaym5t program    
7#a7 ,9 g5]al ,section #ajh7;f77#d7 is  
am5d$ by ins]t+ "u section #ajh ( !     
,indian ,heal? ,c>e ,improvem5t ,act1   
aft] #cch;,i ( su* ,act14  7#b7 ,cl]ical
 am5dm5t ,! head+ = section #ajh7;f77#d7
 is am5d$ by /rik+ & c]ta9 & ins]t+ 1   
indian heal? s]vice loan repaym5t       
program1 & c]ta94  7b7 ,effective date  
,! am5dm5ts made by ?is section %all    
apply to am\nts receiv$ 9 taxable ye>s  
beg9n+ aft] ,decemb] #ca1 #bjag4  #aj4  
,opportunity ,zones  7a7 ,designation   
,section #adjj,z-#a7;b7 ( ! ,int]nal    
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+3  7#d7 ,indian l& ,=  

purposes ( subsection 7a71 a population 
c5sus tract locat$ on ,indian ,l& is    
designat$ z a qualifi$ opportunity zone4
  4  7b7 ,indian l& def9$ ,section      
#adjj,z-#a7;c7 ( su* ,code is am5d$ by  
add+ at ! end ! foll[+3  7#d7 ,indian l&
 ,! t]m ,indian l& %all h ! same mean+ z
 provid$ 9 section #bfja7b7 ( ! ,en]gy  
,policy ,act ( #aiib 7#be ,u4,s4,c4     
#ceja7b774  4  7c7 ,numb] ( designations
 ,section #adjj,z-#a7;d7 ( su* ,code is 
am5d$ by add+ at ! end ! foll[+3  7#c7  
,indian l&s exclud$ ,indian l& deem$ to 
be a qualifi$ opportunity zone by       
subsection 7b77#d7 %all n be tak5 into  
acc\nt = purposes ( p>agraphs 7#a7 &    
7#b74  4  7d7 ,effective date ,!        
am5dm5ts made by ?is section %all apply 
) respect to ,indian l&s aft] ! date ( !
 enactm5t ( ?is ,act4