Tribal Treasury Advisory Committee Completes Successful First Meeting
|The full Tribal Treasury Advisory Committee is pictured above. From left to right: Chairman Ron Allen (Jamestown S'Klallam Tribe), Rebecca Benally (Navajo Nation), TTAC Vice Chairman Eugene Magnuson (Pokagon Band of Potawatomi Indians), TTAC Chairwoman Lacey Horn (Cherokee Nation), Chief Lynn Malerba (Mohegan Tribe), Councilwoman Sharon Edenfield (Confederated Tribes of the Siletz Indians), and Treasurer Patricia King (Oneida Nation)|
|After a long awaited appointment process, the Treasury Tribal Advisory Committee (TTAC) officially met for the first time on June 20, 2019. The public meeting was held at the U.S. Department of the Treasury Main Building in Washington D.C. and included all seven TTAC members, officials from Treasury, the Internal Revenue Service, the CDFI fund, and members of the public. As one of the first orders of business, Lacey Horn, member of the Cherokee Nation, was appointed as Chairwoman, and Eugene Magnuson, member of the Pokagon Band of Potawatomi Indians, was appointed as Vice Chairman.|
The Tribal General Welfare Exclusion Act of 2014 (P.L. 113-168) was signed into law by the President in September 2014 and required the establishment of a seven-member TTAC. The committee members have a broad mandate to "advise the Secretary on matters relating to the taxation of Indians." Among the duties, the TTAC helps establish training and education programs for Internal Revenue Service field agents who work with tribal governments. NAFOA will serve in an advisory role to the TTAC.
A copy of the meeting minutes will be made available to the public and will be disbursed through the Department of the Treasury Tribal Policy Page and NAFOA’s TTAC page. NAFOA will also provide a summary of the meeting in conjunction with the release of the official meeting minutes.
"The first meeting of the Treasury Tribal Advisory Committee was a fantastic success. TTAC members met with Treasury and IRS officials and shared our real-life examples of the effects of Tribes’ taxation challenges. We are hopeful to find solutions regarding general welfare, dual taxation, and many other matters that were brought forward. Opportunity Zones were also addressed, as we discussed how Tribes can participate and attract investments through this new incentive. Overall, the feeling is optimistic as we look forward to our next meeting in September."
- Lacey Horn, Chairwoman, TTAC
TTAC Meeting HighlightsThe morning covered important procedural items related to establishing the committee including: reviewing the committee’s charter and considering by-laws and processes. The meeting also featured remarks from Jovita Carranza, Treasurer of the United States, Krishna Vallabhaneni, the Treasury Designated Federal Officer for the TTAC, and Michael Faulkender, the Principal Deputy Assistant Secretary and Point of Contact for Treasury Tribal Consultation from the Office of Economic Policy.
Outcomes and Next Steps:
- Dual Taxation
- Opportunity Zones
- The “Kiddie Tax”
- General Welfare Exclusion
- Education of IRS field agents
- Training of Tribal Financial Officers
- Tax status of tribally chartered entities
- Tribal Economic Development Bonds financing
- Tax Extenders
- A brief listing of other priorities to be further discussed in future committee sessions
- Proposal of temporary working groups until subcommittees are established through approved committee bylaws:
NAFOA looks forward to assisting the TTAC and coordinating with other national and regional tribal organizations to further our common goal of making tax policy and programs work for Indian Country. To provide comments directly to the TTAC you can contact email@example.com.
- NAFOA was selected as the main technical advisory coordinating organization for the committee.
- Before the next meeting, the committee will solidify and approve the committee’s charter and bylaws.
- The committee decided it will meet at least 3 times a year, convening more often if necessary. Official meeting dates are tentatively set for September 2019, December 2019, March 2020, and September 2020. The exact dates will be shared when finalized.
|For any other questions or concerns, please contact Emery Real Bird at firstname.lastname@example.org or (202) 945-7750. |