The president is poised to sign into law a bill sponsored by U.S. Sen. John Hoeven (R-ND) that aims to bolster economic opportunity, regulatory relief and increased access to capital for Native American tribes and businesses.
“This legislation provides regulatory relief and resources to better help tribes attract investment, diversify their economies and create good jobs for their members,” Sen. Hoeven said. “This comes as part of our broader efforts to empower tribal communities to determine their own economic future.”
The Indian Community Economic Enhancement Act of 2020, S. 212, which Sen. Hoeven authored and introduced in January 2019, makes several revisions related to economic development for Native American communities; requires coordination between the U.S. Commerce Department, the U.S. Department of the Interior, and the U.S. Treasury Department to support economic development in Native American communities; requires the U.S. Department of Health and Human Services to use Native American labor and purchase Native American industry products; and authorizes the Administration for Native Americans (ANA) to provide financial assistance to Native American community development financial institutions, among other provisions in the congressional record bill summary.
The U.S. House of Representatives on Dec. 3 approved the bill, which then received U.S. Senate approval on Dec. 17 before being presented to the president on Dec. 21 to be signed into law.