The U.S. Senate has approved the Indian Community Economic Enhancement Act and the Native American Business Incubators Act, making it easier for tribal business development and entrepreneurial activity.
The bills will now be considered by the House.
The legislation pushed by Senate Indian Affairs Committee Chairman John Hoeven contains elements that the National Center for American Indian Enterprise Development has long supported. It amends existing law and makes it easier for tribes to obtain money to improve economic opportunities.
It will encourage more cooperation between the Departments of Commerce, Interior and Treasury on matters concerning tribes. It will promote the Director of Indian programs to report directly to the Secretary of Commerce. It will update SEC regulations to make tribes as accredited investors.
The companion bill, the Native American Business Incubators Program Act would create a grant program within the Interior Department to assist businesses on reservations.
