Tribal Government Tax-Exempt Bond Authority Amendments Act of 2001

This bill would change federal tax and securities laws to give Indian tribal governments the same authority as state and local governments to issue tax-exempt bonds. By removing current restrictions that limit tribal bonding to "essential government functions," the legislation would allow tribes to more easily finance a broader range of community facilities and private activity projects, such as manufacturing plants or infrastructure, provided they meet specific employment and ownership criteria. For citizens, this is intended to promote economic development and job creation on or near tribal lands by lowering the cost of borrowing for large-scale construction and improvement projects.