A bill to determine the feasibility of establishing an Indian Tribal Development Corporation.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Indian Tribal Development 
Corporation Feasibility Study Act of 2004''.

SEC. 2. FEASIBILITY STUDY.

    Section 4(b) of the Native American Business Development, Trade 
Promotion, and Tourism Act of 2000 (25 U.S.C. 4303(b)) is amended--
            (1) by redesignating paragraph (6) as paragraph (7); and
            (2) by inserting after paragraph (5) the following:
            ``(6) Tribal development corporation feasibility study.--
                    ``(A) In general.--The Secretary shall establish 
                the Tribal Development Corporation Feasibility Study 
                Group (referred to in this paragraph as the `Group').
                    ``(B) Members.--The Group shall be comprised of 12 
                members, as follows:
                            ``(i) Representatives of indian tribes.--
                        Five members of the Group shall be 
                        representatives of federally recognized Indian 
                        tribes.
                            ``(ii) Representatives of the alaska native 
                        community.--Three members of the Group shall be 
                        representatives of the Alaska Native Community.
                            ``(iii) Representative of the native 
                        hawaiian community.--One member of the Group 
                        shall be a representative of the Native 
                        Hawaiian Community.
                            ``(iv) Representative of the private 
                        sector.--Two members of the Group shall be 
                        representatives of nongovernmental economic 
                        activities carried out by private enterprises 
                        in the private sector.
                            ``(v) Federal officials.--One member of the 
                        Group shall be a representative of the 
                        Department of the Treasury with demonstrated 
                        experience in international economic 
                        development and international financial 
                        institutions.
                    ``(C) Chairperson.--The members of the Group shall 
                select a Chairperson.
                    ``(D) Personnel and services.--
                            ``(i) In general.--The Chairperson of the 
                        Group may appoint and terminate such personnel 
                        as are necessary to enable the Group to perform 
                        its duties.
                            ``(ii) Procurement of services.--The 
                        Chairperson may procure such services as are 
                        necessary to enable the Group to perform the 
                        duties of the Group.
                    ``(E) Study.--
                            ``(i) In general.--Not later than 270 days 
                        after the date of enactment of this 
                        subparagraph, the Group shall--
                                    ``(I) conduct a study to determine 
                                the feasibility of establishing an 
                                Indian Tribal Development Corporation 
                                (referred to in this subparagraph as 
                                the `Corporation'); and
                                    ``(II) submit to the Committee on 
                                Indian Affairs and the Committee on 
                                Appropriations of the Senate and the 
                                Committee on Resources and the 
                                Committee on Appropriations of the 
                                House of Representatives a report that 
                                describes the results of the study and 
                                any recommendations of the Group for 
                                further legislative action.
                            ``(ii) Contents.--The report shall 
                        contain--
                                    ``(I) a discussion and 
                                determination of the financial 
                                feasibility of the Corporation, 
                                including whether the Corporation can 
                                be, over the long term, financially 
                                self-sustainable;
                                    ``(II) a discussion and 
                                determination of the probable economic 
                                impact of the Corporation, including a 
                                demonstration of the quantitative and 
                                qualitative economic impact on Native 
                                American communities;
                                    ``(III) a discussion and 
                                determination of the best alternatives 
                                in the structure, organization, and 
                                lending terms and conditions of the 
                                Corporation, including the most 
                                appropriate structure of capital 
                                contributions to best serve, and be 
                                acceptable to, Native interests;
                                    ``(IV) a discussion and 
                                determination of the basic terms and 
                                conditions under which funding would be 
                                provided to member Indian tribes;
                                    ``(V) a discussion of nonfinancial 
                                and advisory activities to be 
                                undertaken by the Corporation, 
                                including the use of diagnostic studies 
                                by the Corporation to--
                                            ``(aa) identify tribal, 
                                        Federal, or State policies and 
                                        legal and regulatory conditions 
                                        and infrastructure deficiencies 
                                        that impede investment, both 
                                        private and public, needed to 
                                        promote economic development;
                                            ``(bb) provide specific 
                                        recommendations for remedial 
                                        actions that can be undertaken 
                                        by an Indian tribe to overcome 
                                        such inhibitors of investment; 
                                        and
                                            ``(cc) identify and 
                                        establish the terms for pre-
                                        appraisal studies of investment 
                                        opportunities, both private and 
                                        public, that can be developed 
                                        and promoted by an Indian 
                                        tribe; and
                                    ``(VI) a discussion and 
                                determination of--
                                            ``(aa) the capital 
                                        structure of the Corporation, 
                                        including the optimal level of 
                                        initial capital contributions 
                                        by both Indian tribes and the 
                                        United States Government; and
                                            ``(bb) the financial 
                                        instruments that will be 
                                        required by the Corporation to 
                                        ensure its success.
                    ``(F) Termination of study group.--The Group shall 
                terminate 120 days after the date on which the Group 
                submits the report under subparagraph (E).
                    ``(G) Authorization of appropriations.--There are 
                authorized to be appropriated to carry out this 
                paragraph--
                            ``(i) $3,000,000 for fiscal year 2005; and
                            ``(ii) $2,000,000 for fiscal year 2006.''.

            Passed the Senate November 19, 2004.

            Attest:

                                             EMILY J. REYNOLDS,

                                                             Secretary.

Summary: Indian Tribal Development Corporation Feasibility Study Act of 2004 - Amends the Native American Business Development, Trade Promotion, and Tourism Act of 2000 to direct the Secretary of Commerce to establish the Tribal Development Corporation Feasibility Study Group to study and report to Congress on the feasibility of establishing an Indian Tribal Development Corporation. Authorizes appropriations for FY 2005 and 2006.