,,ii #aae? ,,congress #a/ ,session ,s4 #bjab ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,octob] #be1 #bjag,mr4 ,hoev5 7= himself1 ,ms4 ,murk[ski1 & ,ms4 ,heitkamp7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,f9ance ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to make p]man5t ! ,indian ,employm5t ,cr$it & ! depreciation rules = bus9ess prop]ty on ,indian res]vations1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,tribal ,economic ,assi/ance ,act ( #bjag4 #b4 ,treatm5t ( ,indian ,tribes z ,/ates ) respect to bond issuance 7a7 ,repeal ( ess5tial gov]nm5tal function requirem5t ,section #ghga ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ subsections 7b7 & 7e74 7b7 ,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 ,mak+ p]man5t ! ,indian ,employm5t ,cr$it & deprecation rules = bus9ess prop]ty on ,indian res]vations 7a7 ,indian employm5t cr$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 7c7 ,effective date ,! am5dm5t made by ?is subsection %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjaf4 #d4 ,priority "u ,new ,m>kets ,tax ,cr$it = qualifi$ l[-income community inve/m5ts on ,indian res]vations 7a7 ,9 g5]al ,subsection 7f7 ( section #de;,d ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7#a7 9 p>agraph 7#b7-- 7,a7 9 subp>agraph 7,a71 by /rik+ or at ! end2 7,b7 9 subp>agraph 7,b71 by /rik+ ! p]iod & ins]t+ 1 or2 & 7,c7 by add+ at ! end ! foll[+ new subp>agraph3 7,c7 :i* int5ds to make qualifi$ 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 2 & 7#b7 by add+ at ! end ! foll[+ new p>agraph3 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 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to cal5d> ye>s beg9n+ aft] ,decemb] #ca1 #bjag4 #e4 ,au?orization to e/abli% qualifi$ ,indian s*ool con/ruction bond escr[ acc\nt 7a7 ,au?orization ,to e/abli% qualifi$ ,indian s*ool con/ruction bond escr[ acc\nt 7#a7 ,9 g5]al ,"p ,b ( title ,,ii ( ! ,indian ,self-,det]m9ation & ,education ,assi/ance ,act 7#be ,u4,s4,c4 #ecea7 is am5d$ by add+ at ! end ! foll[+3 #bjd;,a4 ,au?orization to e/abli% qualifi$ ,indian s*ool con/ruction bond escr[ acc\nt 7a7 ,def9itions ,9 ?is section3 7#a7 ,f$]al escr[ acc\nt ,! t]m ,f$]al escr[ acc\nt means ! qualifi$ ,indian s*ool con/ruction bond escr[ acc\nt e/abli%$ "u subsection 7b74 7#b7 ,qualifi$ ,indian s*ool con/ruction bond ,! t]m qualifi$ ,indian s*ool con/ruction bond means a bond = :i* ! ,secret>y ( ! ,int]ior has provid$ an allocation pursuant to ! au?ority provid$ to ! ,secret>y "u section #ed;,f7d77#d7 ( ! ,int]nal ,rev5ue ,code4 7#c7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ! ,int]ior4 7b7 ,9 g5]al ,pursuant to ! au?ority grant$ "u section #ed;,f7d77#d7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 ! ,secret>y %all e/abli% a ,f$]al qualifi$ ,indian s*ool con/ruction bond escr[ acc\nt = ! purpose ( implem5t+ su* section4 7c7 ,use ( escr[ acc\nt ,! ,secret>y %all use am\nts available "u ! ,f$]al escr[ acc\nt to c>ry out a qualifi$ ,indian s*ool con/ruction bond program = s*ools fund$ by ! ,bureau ( ,indian ,affairs1 ?r\gh :i*-- 7#a7 ! ,secret>y %all approve qualifi$ s*ool con/ruction bonds to ! ext5t t am\nts are available 9 ! ,f$]al escr[ acc\nt to support ! bonds pursuant to p>agraph 7#b72 7#b7 ^u ! ,secret>y's approval ( a reque/ = a qualifi$ s*ool con/ruction bond1 ! ,secret>y %all deposit1 f am\nts available 9 ! ,f$]al escr[ acc\nt1 ! am\nt describ$ 9 p>agraph 7#d7 9 an individual bond escr[ acc\nt t %all be manag$ = su* qualifi$ s*ool con/ruction bond2 7#c7 ! funds = ! individual bond escr[ acc\nt %all be held by ! ,f$]al ,gov]nm5t or 9 an insur$ depository in/itution1 z def9$ 9 section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac71 & %all be inve/$ 9 appropriate ,treasury securities2 & 7#d7 ! am\nt ( ! funds provid$ = ! individual bond escr[ acc\nt %all be an am\nt suffici5t to repay ! face value ( ! bond 9 a #ae-ye> p]iod1 bas$ on ! inve/m5t requir$ "u p>agraph 7#c74 7d7 ,transf] to escr[ acc\nt 7#a7 ,9 g5]al ,! ,secret>y %all deposit 9 ! ,f$]al escr[ acc\nt su* sums z are made available to implem5t ?is section & section #ed;,f7d77#d7 ( ! ,int]nal ,rev5ue ,code ( #aihf4 7#b7 ,o!r funds ,! ,secret>y may accept & deposit 9 ! ,f$]al escr[ acc\nt am\nts receiv$ to c>ry out ?is section f any o!r s\rce1 includ+ ,f$]al ag5cies1 non-,f$]al public ag5cies1 ,indian ,tribes1 nonpr(it organizations1 & private sector entities4 4 7#b7 ,con=m+ am5dm5ts ,section #bjd ( ! ,indian ,self-,det]m9ation & ,education ,assi/ance ,act 7#be ,u4,s4,c4 #ecea7 is am5d$ by /rik+ ?is "p ,b ea* place ! t]m appe>s & ins]t+ ?is section4 7b7 ,use ( bonds = reasonable & necess>y precon/ruction co/s ,section #ed;,f7d77#d7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ ,affairs4 & ins]t+ ,affairs1 :i* may include pay+ ! reasonable & necess>y pr$evelopm5t co/s directly associat$ ) su* con/ruction1 rehabilitation1 or repair44