United States · Bill · HR
H.R. 1607 (111th)
Indian Development Finance Corporation Act
Introduced
19 March 2009
Last action
19 March 2009 · Introduced
Status
Referred to the House Committee on Natural Resources.
Sponsors
Del. Faleomavaega, Eni F. H. [D-AS-At Large], Rep. Kildee, Dale E. [D-MI-5]
Subjects
Discovery layer
Source updated
14 August 2025
Summary
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.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
19 March 2009
Introduced
Referred to the House Committee on Natural Resources.
Source: IntroReferral
19 March 2009
Introduced
Introduced in House
Source: IntroReferral
19 March 2009
Introduced
Introduced in House
Source: IntroReferral
Votes
No vote records are attached yet.
Versions
- Introduced in House · 19 March 2009 · Download file
Documents
3 official files
Introduced in House (text)
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Introduced in House (text)
Introduced in House · EN · 19 March 2009
Introduced in House (PDF)
Introduced in House · EN · 19 March 2009
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Introduced in House
summary · EN · 19 March 2009
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Sponsors
- Del. Faleomavaega, Eni F. H. [D-AS-At Large] · D · Sponsor
- Rep. Kildee, Dale E. [D-MI-5] · D · Cosponsor
- · hsii00 · Standing
Related records
- related to ← Indian Development Finance Corporation Act
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/111th-congress/house-bill/1607
- Open data entity: https://api.congress.gov/v3/bill/111/hr/1607
- us · 111-hr-1607 · source updated 14 August 2025