United States · Bill · S
S. 439 (111th)
Indian Development Finance Corporation Act
Introduced
13 February 2009
Last action
—
Status
Committee on Indian Affairs. Hearings held. Hearings printed: S.Hrg. 111-631.
Sponsors
—
Subjects
Discovery layer
Source updated
14 August 2025
Summary
Indian Development Finance Corporation Act - Establishes the Indian Development Finance Corporation to take certain actions, including: (1) providing development capital through financial services under this Act; (2) encouraging the development of new and existing Indian business enterprises eligible to receive assistance from the Corporation; and (3) otherwise assisting in strengthening Indian tribal economies through the development of Indian business enterprises. Authorizes the Corporation to: (1) make loans or commitments for loans to any Indian business enterprise; (2) purchase, insure, or discount any obligation of an Indian business enterprise if the enterprise meets specified requirements; (3) purchase, or make commitments to purchase, any portion of the equity or ownership interest in the Indian business enterprise for purposes of providing long-term capital and working capital; and (4) supervise or participate in the management of an Indian business enterprise in which such an investment has been made. Authorizes the Corporation to issue shares of stock. Requires the stock to be issued only to, and held only by, an Indian tribe or the federal government. Directs the Secretary of the Interior to: (1) initially subscribe to at least $20 million in stock and; and (2) beginning in FY2012, subscribe to $80 million in stock (unless the Corporation's board requests a smaller amount). Makes all stock subscribed to by the Secretary nonvoting and prohibits that stock from accruing dividends.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
No timeline events have been ingested for this record yet.
Votes
No vote records are attached yet.
Versions
No version snapshots stored. Document URLs remain at the source.
Documents
3 official files
Introduced in Senate (text)
Introduced in Senate · EN · 13 February 2009
Introduced in Senate (PDF)
Introduced in Senate · EN · 13 February 2009
Introduced in Senate
summary · EN · 13 February 2009
Sponsors
No sponsors or actors listed by the source.
Related records
No cross-record relationships stored yet.
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/111th-congress/senate-bill/439
- Open data entity: https://api.congress.gov/v3/bill/111/s/439