25 U.S.C. § 4195 — Limitations on amount of guarantees

FEDERAL · 25 U.S.C. · Chapter 43

Limitations on amount of guarantees

Current through Pub. L. 119-102

Title 25 — Indians·Ch. 43 — NATIVE AMERICAN HOUSING ASSISTANCE AND SELF-DETERMINATION·Subch. VI

(a)Aggregate fiscal year limitation Notwithstanding any other provision of law and subject only to the absence of qualified applicants or proposed activities and to the authority provided in this subchapter, to the extent approved or provided in appropriations Acts, the Secretary may enter into commitments to guarantee notes and obligations under this subchapter with an aggregate principal amount not to exceed $400,000,000 for each of fiscal years 2009 through 2013.

(b)Authorization of appropriations for credit subsidy There are authorized to be appropriated to cover the costs (as such term is defined in section 661a of title 2) of guarantees under this subchapter such sums as may be necessary for each of fiscal years 2009 through 2013.

(c)Aggregate outstanding limitation The total amou

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(a) Aggregate fiscal year limitation
Notwithstanding any other provision of law and subject only to the absence of qualified applicants or proposed activities and to the authority provided in this subchapter, to the extent approved or provided in appropriations Acts, the Secretary may enter into commitments to guarantee notes and obligations under this subchapter with an aggregate principal amount not to exceed $400,000,000 for each of fiscal years 2009 through 2013.
(b) Authorization of appropriations for credit subsidy
There are authorized to be appropriated to cover the costs (as such term is defined in section 661a of title 2) of guarantees under this subchapter such sums as may be necessary for each of fiscal years 2009 through 2013.
(c) Aggregate outstanding limitation
The total amount of outstanding obligations guaranteed on a cumulative basis by the Secretary pursuant to this subchapter shall not at any time exceed $2,000,000,000 or such higher amount as may be authorized to be appropriated for this subchapter for any fiscal year.
(d) Fiscal year limitations on tribes
The Secretary shall monitor the use of guarantees under this subchapter by Indian tribes. If the Secretary finds that 50 percent of the aggregate guarantee authority under subsection (c) has been committed, the Secretary may—
(1) impose limitations on the amount of guarantees any one Indian tribe may receive in any fiscal year of $50,000,000; or
(2) request the enactment of legislation increasing the aggregate outstanding limitation on guarantees under this subchapter.

25 U.S.C. § 4195 (Limitations on amount of guarantees) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 104–330, title VI, §605, Oct. 26, 1996, 110 Stat. 4047; Pub. L. 107–292, §2(b), Nov. 13, 2002, 116 Stat. 2053; Pub. L. 110–411, title VII, §701(b), Oct. 14, 2008, 122 Stat. 4334.)

Editorial Notes

Editorial Notes

Amendments
2008—Subsecs. (a), (b). Pub. L. 110–411 substituted "2009 through 2013" for "1997 through 2007".
2002—Subsecs. (a), (b). Pub. L. 107–292 substituted "1997 through 2007" for "1997, 1998, 1999, 2000, and 2001".

Statutory Notes and Related Subsidiaries

Effective Date
Section effective Oct. 26, 1996, see section 606 of Pub. L. 104–330, set out as a note under section 4191 of this title.