Tribal tax-exempt bond bill advances in California

A California Senate committee unanimously approved a bill on Wednesday to allow tribes to issue tax-exempt bonds for development projects.

State Sen. Dean Florez (D) said tribes should be able to offer bonds just like any other municipality. "If a city and county can do it, we believe a tribe should be able to do it as well," he said, according to The Los Angeles Times.

The Internal Revenue Service is cracking down on tribes, including some in California, for issuing tax-exempt bonds. The IRS says the deals aren't allowed under federal law because casinos and hotels aren't "essential" government services.

Get the Story:
Bill Granting Tax Breaks for Tribal Resorts Clears Panel (The Los Angeles Times 4/28)

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