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United States · Bill · S

S. 594 (108th)

Indian School Construction Act

referredUnited States· United States Congress· EN

Introduced

11 March 2003

Last action

11 March 2003 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Johnson, Tim [D-SD], Sen. Daschle, Thomas A. [D-SD], Sen. Campbell, Ben Nighthorse [R-CO], Sen. Cochran, Thad [R-MS], Sen. Murray, Patty [D-WA]

Subjects

Taxation, Education

Source updated

18 August 2025

Taxation · Education

Official sourceDownload fileView documentsShare

Summary

Indian School Construction Act - Directs the Secretary of the Interior to establish a pilot program under which eligible Indian tribes have the authority to issue tribal school modernization bonds to provide funding for the construction, rehabilitation, or repair of tribal schools, including advance planning and design. Permits a tribe to use amounts received through a bond issue to enter contracts: (1) for the design and engineering of the school; and (2) with financial advisors, underwriters, attorneys, trustees, and other professionals who would be able to provide assistance to the tribe in issuing bonds. Makes any tribal school modernization bond issued by a tribe subject to a trust agreement. Authorizes the Secretary to deposit not more than $30 million each fiscal year into a tribal school modernization escrow account beginning in FY 2004 from amounts made available for school replacement under the construction account of the Bureau of Indian Affairs. Requires the Secretary to use any amounts deposited to make payments to trustees or for advance planning and design. Declares that no bond shall be an obligation of, nor shall payment of the principal be guaranteed by, the United States, the tribes, or their schools. Exempts from Federal income tax any earnings through the investment of funds under the control of a trustee. Amends the Internal Revenue Code to allow a tax credit to individuals who hold such bonds.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 11 March 2003

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 11 March 2003

    Introduced

    Sponsor introductory remarks on measure. (CR S3517-3518)

    Source: IntroReferral

  3. 11 March 2003

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 11 March 2003

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 11 March 2003

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 11 March 2003

    Open at official source

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Sponsors

Related records

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Sources

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