US Congress Senate Bill 3181 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on January 9 2020 - 25% progression, died in committee
Action: 2020-01-09 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

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.

INVEST Act Inspiring Nationally Vibrant Economies Sustaining Tribes Act of 2020

Sen. Lisa Murkowski [R-AK]

Sen. Brian Schatz [D-HI]

Sen. Mazie Hirono [D-HI]

Sen. Dan Sullivan [R-AK]

Date	Chamber	Action
2020-01-09	Senate	Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/3181/all-info
Text	https://www.congress.gov/116/bills/s3181/BILLS-116s3181is.pdf