Senator John Hoeven (R-ND), chairman of the Senate Committee on Indian Affairs, has introduced legislation, S.2012, the Tribal Economic Assistance Act of 2017, that would remove regulatory barriers that prohibit tribes from accessing tax free financing instruments, makes permanent valuable tax credits on reservations, provides access to New Markets Tax Credits for tribal enterprises or tribal-based development projects, and incentivizes tribal school construction bonds through private-public-tribal partnerships.
“NAFOA commends Senator Hoeven for prioritizing tribal governments as Congress tackles tax reform,” said NAFOA’s president Cristina Danforth. “NAFOA has been consistently advocating for parity with state and local governments and for tax incentives that entice economic growth and the hiring of tribal members. Yesterday’s bill introduced by Senator Hoeven will help ensure tribal governments are provided the tax relief necessary to boost job creation, housing, and infrastructure growth.
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