§ 4191. Authority and requirements

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1996

   Native American Housing Assistance and Self-Determination Act of 1996

   Pub. L. 104–330 title VI § 601 · 110 Stat. 4016

   Enacted · 25 U.S.C. § 4191

   Pub. L. 104–330, title VI, § 601, Oct. 26, 1996, 110 Stat. 4046

   Source evidence

   Code source credit
   Pub. L. 104–330, title VI, § 601, Oct. 26, 1996, 110 Stat. 4046

   Enacted provision · exact public law section
   SEC. 601. AUTHORITY AND REQUIREMENTS. (a) Authority.— To such extent or in such amounts as provided in appropriations Acts, the Secretary may, subject to the limitations of this title (including limitations designed to protect and maintain the viability of rental housing units owned or operated by the recipient that were developed under a contract between the Secretary and an Indian housing authority pursuant to the United States Housing Act of 1937), and upon such terms and conditions as the Secretary may prescribe, guarantee and make commitments to guarantee, the notes or other obligations issued by Indian tribes or tribally designated housing entities with tribal approval, for the purposes of financing affordable housing activities described in section 202. (b) Lack of Financing Elsewhere.— A guarantee under this title may be used to assist an Indian tribe or housing entity in obtaining financing only if the Indian tribe or housing entity has made efforts to obtain such financing without the use of such guarantee and cannot complete such financing consistent with the timely execution of the program plans without such guarantee. (c) Terms of Loans.— Notes or other obligations guaranteed pursuant to this title shall be in such form and denominations, have such maturities, and be subject to such conditions as may be prescribed by regulations issued by the Secretary. The Secretary may not deny a guarantee under this title on the basis of the proposed repayment period for the note or other obligation, unless the period is more than 20 years or the Secretary determines that the period causes the guarantee to constitute an unacceptable financial risk. (d) Limitation on Outstanding Guarantees.— No guarantee or commitment to guarantee shall be made with respect to any note or other obligation if the total outstanding notes or obligations of the issuer guaranteed under this title (excluding any amount defeased under the contract entered into under section 602(a)(1)) would thereby exceed an amount equal to 5 times the amount of the grant approval for the issuer pursuant to title III.

2. 2002

   Native American Housing Assistance and Self-Determination Reauthorization Act of 2002

   Pub. L. 107–292 § 7(1) · 116 Stat. 2053

   Inserted · 25 U.S.C. § 4191(a)

   Pub. L. 107–292, § 7(1), inserted “and housing related community development activity as consistent with the purposes of this chapter” after “section 4132 of this title”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 107–292, § 7(1), inserted “and housing related community development activity as consistent with the purposes of this chapter” after “section 4132 of this title”.

   Enacted provision · exact public law section
   (1) in subsection (a), by inserting after “section 202” the following: “and housing related community development activity as consistent with the purposes of this Act”;

3. 2002

   Native American Housing Assistance and Self-Determination Reauthorization Act of 2002

   Pub. L. 107–292 § 7(2) · 116 Stat. 2053

   1. Redesignated · 25 U.S.C. § 4191(b)(d)

      Pub. L. 107–292, § 7(2), (3), redesignated subsecs. (c) and (d) as (b) and (c), respectively

   2. Struck · 25 U.S.C. § 4191(b)(d)

      Pub. L. 107–292, § 7(2), (3), struck out heading and text of former subsec. (b). Text read as follows: “A guarantee under this subchapter may be used to assist an Indian tribe or housing entity in obtaining financing only if the Indian tribe or housing entity has made efforts to obtain such financing without the use of such guarantee and cannot complete such financing consistent with the timely execution of the program plans without such guarantee.”

   Source evidence

   Code amendment note
   Subsecs. (b) to (d). Pub. L. 107–292, § 7(2), (3), redesignated subsecs. (c) and (d) as (b) and (c), respectively, and struck out heading and text of former subsec. (b). Text read as follows: “A guarantee under this subchapter may be used to assist an Indian tribe or housing entity in obtaining financing only if the Indian tribe or housing entity has made efforts to obtain such financing without the use of such guarantee and cannot complete such financing consistent with the timely execution of the program plans without such guarantee.”

   Enacted provision · exact public law section
   (2) by striking subsection (b); and

4. 2004

   Homeownership Opportunities for Native Americans Act of 2004

   Pub. L. 108–393 § 2 · 118 Stat. 2246

   Added · 25 U.S.C. § 4191(d)

   Pub. L. 108–393 added subsec. (d)

   Source evidence

   Code amendment note
   Subsec. (d). Pub. L. 108–393 added subsec. (d).

   Enacted provision · exact public law section
   SEC. 2. FEDERAL GUARANTEES FOR FINANCING FOR TRIBAL HOUSING ACTIVITIES.   Section 601 of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4191) is amended by adding at the end the following new subsection: “(d) Limitation on Percentage.— A guarantee made under this title shall guarantee repayment of 95 percent of the unpaid principal and interest due on the notes or other obligations guaranteed.” .

5 of 5 references resolved to an enrolled provision