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United States · Bill · S

S. 519 (108th)

Indian Tribal Development Corporation Feasibility Study Act of 2004

referredUnited States· United States Congress· EN

Introduced

5 March 2003

Last action

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Status

Referred to the House Committee on Resources.

Sponsors

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Subjects

Discovery layer

Source updated

20 June 2025

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Summary

Native American Capital Formation and Economic Development Act of 2003 - Establishes the Native American Capital Development Corporation (Corporation). Authorizes the Corporation to: (1) assist in the planning, establishment, and organization of Native American financial institutions; (2) develop and provide financial expertise and technical assistance to Native American financial institutions; (3) develop and provide specialized technical assistance on overcoming barriers to primary mortgage lending on Native American land; (4) provide mortgage underwriting assistance; (5) work with participants in the secondary market for home mortgage instruments in identifying and eliminating barriers to purchase Native American mortgage loans; (6) obtain capital investments in the Corporation; and (7) act as an information clearing house. Authorizes the Secretary of Housing and Urban Development to award grants to the Corporation to provide technical assistance and other services to Native American financial institutions. Requires the Corporation Board of Directors to establish an Advisory Council to advise it on policy matters and provide information from all sectors of the Native American Community. Specifies the capitalization of the Corporation. Subjects it to the regulatory authority of the Department of Housing and Urban Development. Requires the formation of a new corporation after ten years and merger of the Corporation into it. Establishes within the Corporation: (1) the Native American Economies Diagnostic Studies Fund to be used to strengthen Indian tribal economies by supporting investment policy reforms and technical assistance to eligible Indian Tribes; and (2) the Native American Economic Incubation Center Fund to ensure that resources dedicated to Native American economic development are provided to their intended destinations.

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Documents

11 official files

Referred in House (text)

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