S. 439: Indian Development Finance Corporation Act

111th Congress · introduced 2009-02-13 · Native Americans · Latest: Committee on Indian Affairs. Hearings held. Hearings printed: S.Hrg. 111-631.

federal

Follow this bill, step by step

Where it came from: introduced 2009-02-13 · official record
Who proposed it: Sen. Inouye, Daniel K. [D-HI] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Committee on Indian Affairs. Hearings held. Hearings printed: S.Hrg. 111-631. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Indian Development Finance Corporation Act

Plain 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.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Indian Development Finance Corporation Act

Source: Congressional Research Service summary (Introduced in Senate)

AI explanation – may be wrong, check the official text

No AI explanation yet. It takes up to a minute to write and is then saved for everyone.

Limited to a few requests an hour per person.

The strongest published arguments

Arguments for (supporters)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Arguments against (opponents)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Alternatives

Needs sources: no published alternatives yet (for example a different bill, a law instead of an amendment, or keeping current law). We only show items backed by a published source. Suggest one.

How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Inouye, Daniel K. [D-HI] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s439.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>

Record fed-us-cong111-s439 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111