legislation: 111-hr-1607

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
111-hr-1607 111 hr 1607 Indian Development Finance Corporation Act Native Americans 2009-03-19 2009-03-19 Referred to the House Committee on Natural Resources. House Del. Faleomavaega, Eni F. H. [D-AS-At Large] AS D F000010 1 Indian Development Finance Corporation Act - Establishes the Indian Development Finance Corporation to provide development capital for new and existing Indian businesses and to strengthen tribal economies. Authorizes the Corporation to make loans to or purchase, insure, or discount obligations of Indian businesses if they meet specified financial conditions. Directs the Corporation to provide the credit needed by Indian businesses at the lowest reasonable cost. Authorizes the Corporation to guarantee all or any part of the principal and interest of any loan made to an Indian business by a state or federally chartered lending institution, provided the loan was made on terms permissible for Corporation loans. Authorizes the Corporation to purchase all or any part of the ownership interest in an Indian business and to supervise or participate in the management of such business. Establishes the Advisory Council to the Indian Development Finance Corporation to provide advice on the policies and operations of the Corporation. Authorizes the Corporation to issue stock. Allows shares of stock in the Corporation to be issued to and held by Indian Tribes and the United States only. Authorizes the Corporation to issue a limited amount of bonds and notes. Authorizes appropriations for general operating expenses and for the purchase of Corporation stock by the Secretary. 2023-01-11T13:15:56Z  

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