Tribal Tax Parity and Investment Reform: Boosting Development and Benefits.
This Act grants Indian Tribal Governments parity with State governments for various federal tax and financial purposes, facilitating easier access to infrastructure financing through tax-exempt bonds and new investment credits. For Tribal citizens, it enhances retirement plan security, provides tax relief for certain health and welfare payments, and improves child support enforcement capabilities. The goal is to support Tribal self-governance and improve living conditions in Indian areas.
Key points
Tribal governments are treated as States for excise taxes and issuing tax-exempt bonds, accelerating infrastructure and public service projects.
An additional $175 million annual New Markets Tax Credit allocation is created specifically for investments in Tribal statistical areas, supporting job creation.
Enhanced security and uniform fiduciary standards are established for large Tribal employee pension plans, similar to those in the public sector.
Payments from Indian Health Service loan repayment and scholarship programs are excluded from gross income (tax-free), encouraging healthcare professionals to serve these communities.
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