Indian Employment Opportunity Act of 1992

Summary

Indian Employment Opportunity Act of 1992 - Amends the Internal Revenue Code to allow a tax credit to eligible employers on Indian reservations for the employment of qualified Indian employees. Makes such credit equal to 60 percent of the qualified employment expenditures not exceeding $8,840, and 20 percent of such expenditures exceeding $8,840 but not exceeding $33,370. Prohibits such credit from exceeding the excess of the regular tax (minus certain credits) over the tentative minimum tax. Provides for carryback and carryover of unused credits. Adjusts such credit for inflation. Disallows a deduction for that portion of the wages or salaries paid or incurred which is equal to the amount of the Indian employment credit. Requires any Indian tribal government of an Indian reservation within which employers utilize the Indian employment tax credit to enter into an agreement with the Secretary of the Treasury guaranteeing that for the period of ten years from the date of the agreement, or if less, the period during which such credit is in effect, such government will not impose or modify any tax treatment or business regulation which would lessen the tax benefits of such credit. Amends Federal law to make it a criminal offense to bribe a tribal official.

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2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 26 February 1992

  Open at official source

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