Home > 105th Congressional Bills > S. 51 (is) To amend the Internal Revenue Code of 1986 to eliminate the percentage depletion allowance for certain minerals. ...

S. 51 (is) To amend the Internal Revenue Code of 1986 to eliminate the percentage depletion allowance for certain minerals. ...


Google
 
Web GovRecords.org








108th CONGRESS
  1st Session
                                 S. 519

   To establish a Native American-owned financial entity to provide 
financial services to Indian tribes, Native American organizations, and 
               Native Americans, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 5, 2003

 Mr. Campbell introduced the following bill; which was read twice and 
              referred to the Committee on Indian Affairs

_______________________________________________________________________

                                 A BILL


 
   To establish a Native American-owned financial entity to provide 
financial services to Indian tribes, Native American organizations, and 
               Native Americans, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Native American 
Capital Formation and Economic Development Act of 2003''.
    (b) Table of Contents.--The table of contents of this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Findings.
Sec. 3. Purposes.
Sec. 4. Definitions.
        TITLE I--NATIVE AMERICAN CAPITAL DEVELOPMENT CORPORATION

Sec. 101. Establishment of the Corporation.
Sec. 102. Authorized assistance and service functions.
Sec. 103. Native American lending services grant.
Sec. 104. Audits.
Sec. 105. Annual housing and economic development reports.
Sec. 106. Advisory Council.
                TITLE II--CAPITALIZATION OF CORPORATION

Sec. 201. Capitalization of the Corporation.
            TITLE III--REGULATION, EXAMINATION, AND REPORTS

Sec. 301. Regulation, examination, and reports.
Sec. 302. Authority of the Secretary of Housing and Urban Development.
                 TITLE IV--FORMATION OF NEW CORPORATION

Sec. 401. Formation of new corporation.
Sec. 402. Adoption and approval of merger plan.
Sec. 403. Consummation of merger.
Sec. 404. Transition.
Sec. 405. Effect of merger.
                  TITLE V--OTHER NATIVE AMERICAN FUNDS

Sec. 501. Native American Economies Diagnostic Studies Fund.
Sec. 502. Native American Economic Incubation Center Fund.
               TITLE VI--AUTHORIZATIONS OF APPROPRIATIONS

Sec. 601. Native American financial institutions.
Sec. 602. Corporation.
Sec. 603. Other Native American funds.

SEC. 2. FINDINGS.

    Congress finds that--
            (1) there is a special legal and political relationship 
        between the United States and the Indian tribes, as grounded in 
        treaties, the Constitution, Federal statutes and court 
        decisions, executive orders, and course of dealing;
            (2) despite the availability of abundant natural resources 
        on Indian land and a rich cultural legacy that accords great 
        value to self-determination, self-reliance, and independence, 
        Native Americans suffer rates of unemployment, poverty, poor 
        health, substandard housing, and associated social ills to a 
        greater degree than any other group in the United States;
            (3) the economic success and material well-being of Native 
        Americans depends on the combined efforts and resources of the 
        United States, Indian tribal governments, the private sector, 
        and individuals;
            (4) the poor performance of moribund Indian economies is 
        due in part to the near-complete absence of private capital and 
        private capital institutions; and
            (5) the goals of economic self-sufficiency and political 
        self-determination for Native Americans can best be achieved by 
        making available the resources and discipline of the private 
        market, adequate capital, and technical expertise.

SEC. 3. PURPOSES.

    The purposes of this Act are--
            (1) to establish an entity dedicated to capital development 
        and economic growth policies in Native American communities;
            (2) to provide the necessary resources of the United 
        States, Native Americans, and the private sector on endemic 
        problems such as fractionated and unproductive Indian land;
            (3) to provide a center for economic development policy and 
        analysis with particular emphasis on diagnosing the systemic 
        weaknesses with, and inhibitors to greater levels of investment 
        in, Native American economies;
            (4) to establish a Native-owned financial entity to provide 
        financial services to Indian tribes, Native American 
        organizations, and Native Americans; and
            (5) to improve the material standard of living of Native 
        Americans.

SEC. 4. DEFINITIONS.

    In this Act:
            (1) Alaska native.--The term ``Alaska Native'' has the 
        meaning given the term ``Native'' in section 3 of the Alaska 
        Native Claims Settlement Act (43 U.S.C. 1602).
            (2) Board.--The term ``Board'' means the Board of Directors 
        of the Corporation.
            (3) Capital distribution.--The term ``capital 
        distribution'' has the meaning given the term in section 1303 
        of the Federal Housing Enterprise Financial Safety and 
        Soundness Act of 1992 (12 U.S.C. 4502).
            (4) Chairperson.--The term ``Chairperson'' means the 
        chairperson of the Board.
            (5) Corporation.--The term ``Corporation'' means the Native 
        American Capital Development Corporation established by section 
        101(a)(1)(A).
            (6) Council.--The term ``Council'' means the Advisory 
        Council established under section 106(a).
            (7) Designated merger date.--The term ``designated merger 
        date'' means the specific calendar date and time of day 
        designated by the Board under this Act.
            (8) Department of hawaiian home lands.--The term 
        ``Department of Hawaiian Home Lands'' means the agency that is 
        responsible for the administration of the Hawaiian Homes 
        Commission Act, 1920 (42 Stat. 108 et seq.).
            (9) Fund.--The term ``Fund'' means the Community 
        Development Financial Institutions Fund established under 
        section 104 of the Riegle Community Development and Regulatory 
        Improvement Act of 1994 (12 U.S.C. 4703).
            (10) Indian tribe.--The term ``Indian tribe'' has the 
        meaning given the term in section 4 of the Indian Self-
        Determination and Education Assistance Act (25 U.S.C. 450b).
            (11) Merger plan.--The term ``merger plan'' means the plan 
        of merger adopted by the Board under this Act.
            (12) Native american.--The term ``Native American'' means--
                    (A) a member of an Indian tribe; or
                    (B) a Native Hawaiian.
            (13) Native american financial institution.--The term 
        ``Native American financial institution'' means a person (other 
        than an individual) that--
                    (A) qualifies as a community development financial 
                institution under section 103 of the Riegle Community 
                Development and Regulatory Improvement Act of 1994 (12 
                U.S.C. 4702);
                    (B) satisfies--
                            (i) requirements established by subtitle A 
                        of title I of the Riegle Community Development 
                        and Regulatory Improvement Act of 1994 (12 
                        U.S.C. 4701 et seq.); and
                            (ii) requirements applicable to persons 
                        seeking assistance from the Fund;
                    (C) demonstrates a special interest and expertise 
                in serving the primary economic development and 
                mortgage lending needs of the Native American 
                community; and
                    (D) demonstrates that the person has the 
                endorsement of the Native American community that the 
                person intends to serve.
            (14) Native american lender.--The term ``Native American 
        lender'' means a Native American governing body, Native 
        American housing authority, or other Native American financial 
        institution that acts as a primary mortgage or economic 
        development lender in a Native American community.
            (15) Native hawaiian.--The term ``Native Hawaiian'' has the 
        meaning given the term in section 201 of the Hawaiian Homes 
        Commission Act, 1920 (42 Stat. 108).
            (16) New corporation.--The term ``new corporation'' means 
        the corporation formed in accordance with title IV.
            (17) Secretary.--The term ``Secretary'' means the Secretary 
        of Housing and Urban Development.
            (18) Total capital.--The term ``total capital'' has the 
        meaning given the term in section 1303 of the Federal Housing 
        Enterprise Financial Safety and Soundness Act of 1992 (12 
        U.S.C. 4502).
            (19) Transition period.--The term ``transition period'' 
        means the period beginning on the date on which the merger plan 
        is approved by the Secretary and ending on the designated 
        merger date.

        TITLE I--NATIVE AMERICAN CAPITAL DEVELOPMENT CORPORATION

SEC. 101. ESTABLISHMENT OF THE CORPORATION.

    (a) Establishment; Board of Directors; Policies; Principal Office; 
Membership; Vacancies.--
            (1) Establishment.--
                    (A) In general.--There is established and chartered 
                a corporation, to be known as the ``Native American 
                Capital Development Corporation''.
                    (B) Period of time.--The Corporation shall be a 
                congressionally chartered body corporate until the 
                earlier of--
                            (i) the designated merger date; or
                            (ii) the date on which the charter is 
                        surrendered by the Corporation.
                    (C) Changes to charter.--The right to revise, 
                amend, or modify the Corporation charter is 
                specifically and exclusively reserved to Congress.
            (2) Board of directors; principal office.--
                    (A) Board.--The powers of the Corporation shall be 
                vested in a Board of Directors, which Board shall 
                determine the policies that govern the operations and 
                management of the Corporation.
                    (B) Principal office; residency.--
                            (i) Principal office.--The principal office 
                        of the Corporation shall be in the District of 
                        Columbia.
                            (ii) Venue.--For purposes of venue, the 
                        Corporation shall be considered to be a 
                        resident of the District of Columbia.
            (3) Membership.--
                    (A) In general.--
                            (i) Nine members.--Except as provided in 
                        clause (ii), the Board shall consist of 9 
                        members, of which--
                                    (I) 3 members shall be appointed by 
                                the President; and
                                    (II) 6 members shall be elected by 
                                the class A stockholders, in accordance 
                                with the bylaws of the Corporation.
                            (ii) Thirteen members.--If class B stock is 
                        issued under section 201(b), the Board shall 
                        consist of 13 members, of which--
                                    (I) 9 members shall be appointed 
                                and elected in accordance with clause 
                                (i); and
                                    (II) 4 members shall be elected by 
                                the class B stockholders, in accordance 
                                with the bylaws of the Corporation.
                    (B) Terms.--Each member of the Board shall be 
                elected or appointed for a 4-year term, except that the 
                members of the initial Board shall be elected or 
                appointed for the following terms:
                            (i) Of the 3 members appointed by the 
                        President--
                                    (I) 1 member shall be appointed for 
                                a 2-year term;
                                    (II) 1 member shall be appointed 
                                for a 3-year term; and
                                    (III) 1 member shall be appointed 
                                for a 4-year term;
                        as designated by the President at the time of 
                        the appointments.
                            (ii) Of the 6 members elected by the class 
                        A stockholders--
                                    (I) 2 members shall each be elected 
                                for a 2-year term;
                                    (II) 2 members shall each be 
                                elected for a 3-year term; and
                                    (III) 2 members shall each be 
                                elected for a 4-year term.
                            (iii) If class B stock is issued and 4 
                        additional members are elected by the class B 
                        stockholders--
                                    (I) 1 member shall be elected for a 
                                2-year term;
                                    (II) 1 member shall be elected for 
                                a 3-year term; and
                                    (III) 2 members shall each be 
                                elected for a 4-year term.
                    (C) Qualifications.--Each member appointed by the 
                President shall have expertise in 1 or more of the 
                following areas:
                            (i) Native American housing and economic 
                        development matters.
                            (ii) Financing in Native American 
                        communities.
                            (iii) Native American governing bodies, 
                        legal infrastructure, and judicial systems.
                            (iv) Restricted and trust land issues, 
                        economic development, and small consumer loans.
                    (D) Members of indian tribes.--Not less than 2 of 
                the members appointed by the President shall be members 
                of different, federally-recognized Indian tribes 

Pages: 1 2 3 4 Next >>

Other Popular 105th Congressional Bills Documents:

1 S. 2071 (rfh) To extend a quarterly financial report program administered by the Secretary of Commerce. ...
2 H.R. 2564 (rs) To designate the United States Post Office located at 450 North Centre Street in Pottsville, Pennsylvania, as the ``Peter J. McCloskey Postal Facility''. ...
3 H.Res. 606 (eh) ...
4 S. 1259 (is) To authorize appropriations for fiscal years 1998 and 1999 for the United States Coast Guard, and for other purposes. ...
5 S.J.Res. 55 (is) Requesting the President to advance the late Rear Admiral Husband E. ...
6 H.R. 3657 (ih) To suspend the duty on oxidized polyacrylonitrile fibers until January 1, 2002. ...
7 S. 516 (is) To amend section 1977A of the Revised Statutes to equalize the remedies available to all victims of intentional employment discrimination, and for other purposes. ...
8 H.R. 2799 (eh) To redesignate the building of the United States Postal Service located at 324 South Laramie Street, in Chicago, Illinois, as the ``Reverend Milton R. Brunson Post Office Building''. ...
9 H.J.Res. 37 (ih) Proposing an amendment to the Constitution of the United States establishing English as the official language of the United States. ...
10 S. 2377 (is) To amend the Clean Air Act to limit the concentration of sulfur in gasoline used in motor vehicles. ...
11 H.R. 1108 (ih) To affirm the role of States in setting reasonable occupancy standards, and for other purposes. ...
12 H.Con.Res. 171 (ih) Declaring the memorial service sponsored by the National Emergency Medical Services (EMS) Memorial Service Board of Directors to honor emergency medical services personnel to be the ``National Emergency Medical Services Memorial Servic...
13 S. 2087 (rs) To authorize the Secretary of the Interior to convey certain works, facilities, and titles of the Gila Project, and designated lands within or adjacent to the Gila Project, to the Wellton-Mohawk Irrigation and Drainage District, and for other...
14 S. 70 (is) To apply the same quality and safety standards to domestically manufactured handguns that are currently applied to imported handguns. ...
15 H.R. 2267 (eas) ...
16 H.R. 4166 (rs) To amend the Idaho Admission Act regarding the sale or lease of school land. ...
17 H.R. 3824 (eh) Amending the Fastener Quality Act to exempt from its coverage certain fasteners approved by the Federal Aviation Administration for use in aircraft. ...
18 H.Res. 432 (eh) ...
19 S. 473 (is) To amend the Internal Revenue Code of 1986 to clarify the standards used for determining that certain individuals are not employees, and for other purposes. ...
20 H.J.Res. 75 (enr) To confer status as an honorary veteran of the United States Armed Forces on Leslie Townes (Bob) Hope. ...
21 S. 1354 (es) To amend the Communications Act of 1934 to provide for the designation of common carriers not subject to the jurisdiction of a State commission as eligible telecommunications carriers. ...
22 H.R. 434 (ih) To provide for the conveyance of small parcels of land in the Carson National Forest and the Santa Fe National Forest, New Mexico, to the village of El Rito and the town of Jemez Springs, New Mexico. ...
23 S. 1575 (es) To rename the Washington National Airport located in the District of Columbia and Virginia as the ``Ronald Reagan Washington National Airport''. ...
24 S. 453 (is) To study the high rate of cancer among children in Dover Township, New Jersey, and for other purposes. ...
25 H.R. 462 (ih) To amend the Federal Election Campaign Act of 1971 to control House of Representatives campaign spending, and for other purposes. ...
26 S. 799 (rs) To direct the Secretary of the Interior to transfer to the personal representative of the estate of Fred Steffens of Big Horn County, Wyoming, certain land comprising the Steffens family property. ...
27 H.R. 1392 (ih) To require the Administrator of the Environmental Protection Agency to establish a program under which States may be certified to carry out voluntary environmental cleanup programs and to amend CERCLA regarding the liability of landowners a...
28 S.Con.Res. 88 (es) ...
29 H.Con.Res. 74 (eh) ...
30 S. 156 (rs) To provide certain benefits of the Pick-Sloan Missouri River Basin program to the Lower Brule Sioux Tribe, and for other purposes. ...


Other Documents:

105th Congressional Bills Records and Documents

GovRecords.org presents information on various agencies of the United States Government. Even though all information is believed to be credible and accurate, no guarantees are made on the complete accuracy of our government records archive. Care should be taken to verify the information presented by responsible parties. Please see our reference page for congressional, presidential, and judicial branch contact information. GovRecords.org values visitor privacy. Please see the privacy page for more information.
House Rules:

104th House Rules
105th House Rules
106th House Rules

Congressional Bills:

104th Congressional Bills
105th Congressional Bills
106th Congressional Bills
107th Congressional Bills
108th Congressional Bills

Supreme Court Decisions

Supreme Court Decisions

Additional

1995 Privacy Act Documents
1997 Privacy Act Documents
1994 Unified Agenda
2004 Unified Agenda

Congressional Documents:

104th Congressional Documents
105th Congressional Documents
106th Congressional Documents
107th Congressional Documents
108th Congressional Documents

Congressional Directory:

105th Congressional Directory
106th Congressional Directory
107th Congressional Directory
108th Congressional Directory

Public Laws:

104th Congressional Public Laws
105th Congressional Public Laws
106th Congressional Public Laws
107th Congressional Public Laws
108th Congressional Public Laws

Presidential Records

1994 Presidential Documents
1995 Presidential Documents
1996 Presidential Documents
1997 Presidential Documents
1998 Presidential Documents
1999 Presidential Documents
2000 Presidential Documents
2001 Presidential Documents
2002 Presidential Documents
2003 Presidential Documents
2004 Presidential Documents

Home Executive Judicial Legislative Additional Reference About Privacy