This bill, titled the Tribal Tax and Investment Reform Act of 2026, seeks to establish greater tax parity between Indian Tribal Governments and State governments under the Internal Revenue Code. It recognizes the unique governmental status of tribes and aims to address historical disadvantages in economic development and infrastructure funding. The legislation is designed to further tribal self-governance and affirm the government-to-government relationship between the United States and Indian Tribes. A significant provision allows Indian Tribal Governments to issue tax-exempt bonds without the prior "essential governmental function" requirement, treating them similarly to states. A national bond volume cap of $400 million annually is established for tribal governments, with an additional $45 million for Alaska Native Intertribal Consortia, both indexed for inflation. Importantly, these bonds cannot be used to finance gaming facilities, and geographic restrictions are eased for projects on qualified Indian lands. The bill expands the definition of "governmental plan" to explicitly include plans maintained by Indian tribal governments for pension and employee benefit purposes. It grandfathers certain existing tribal deferred compensation plans and provides a moratorium on federal enforcement actions related to the Pension Protection Act of 2006 until regulatory guidance is issued. For larger tribal pension plans (500+ participants), the bill establishes uniform protections and fiduciary standards , including personal liability for fiduciaries, nondiscrimination rules, and clear notice requirements. To stimulate economic growth, the legislation creates an additional $175 million annual allocation for the New Markets Tax Credit specifically for "qualified tribal area investments" in designated "tribal statistical areas." It also includes "Indian areas" as difficult development areas for the Low-Income Housing Tax Credit, which can lead to increased housing development. Furthermore, the bill mandates educational and technical assistance for qualified community development entities investing in tribal areas. The bill clarifies that Indian general welfare benefits are excluded from income and resources for Supplemental Security Income (SSI) purposes, and grantor trusts established by tribes for Indian beneficiaries are also excluded from SSI resources. It extends the Indian Employment Tax Credit by removing its expiration date and increases the maximum qualified wages from $20,000 to $30,000 for credit calculation. Finally, payments received under the Indian Health Service Loan Repayment Program and the Indian Health Professions Scholarships Program are excluded from gross income.