§ 1833 TITLE 25—INDIANS Page 558

of which shall be invested in the same manner

as funds are invested under paragraph (2) of

section 1065(c) of title 20, except that for purposes of this paragraph, the term ‘‘trust fund’’

means a fund established by an institution of

higher education or by a foundation that is exempt from taxation and is maintained for the

purpose of generating income for the support

of the institution, and may include real estate;

(2) provides for the deposit in such trust fund

of—

(A) any Federal capital contributions

made from funds appropriated under section

1836 of this title;

(B) a capital contribution by such college

in an amount (or of a value) equal to half of

the amount of each Federal capital contribution; and

(C) any earnings of the funds so deposited;

(3) provides that such funds will be deposited

in such a manner as to insure the accumulation of interest thereon at a rate not less than

that generally available for similar funds deposited at the banking or savings institution

for the same period or periods of time;

(4) provides that, if at any time such college

withdraws any capital contribution made by

that college, an amount of Federal capital

contribution equal to twice the amount of (or

value of) such withdrawal shall be withdrawn

and returned to the Secretary for reallocation

to other colleges;

(5) provides that no part of the net earnings

of such trust fund will inure to the benefit of

any private person; and

(6) includes such other provisions as may be

necessary to protect the financial interest of

the United States and promote the purpose of

this subchapter and as are agreed to by the

Secretary and the college, including a description of recordkeeping procedures for the expenditure of accumulated interest which will

allow the Secretary to audit and monitor programs and activities conducted with such interest.

(Pub. L. 95–471, title III, §302, as added Pub. L.

98–192, §13, Dec. 1, 1983, 97 Stat. 1341; amended

Pub. L. 101–477, §1(d)(1)(A), (B), Oct. 30, 1990, 104

Stat. 1152, 1153; Pub. L. 103–382, title III, §383,

Oct. 20, 1994, 108 Stat. 4018.)

AMENDMENTS

1994—Subsec. (a). Pub. L. 103–382, §383(1), substituted

‘‘section 1065 of title 20’’ for ‘‘section 1065a of title 20’’.

Subsec. (b)(1). Pub. L. 103–382, §383(2)(A), amended

par. (1) generally. Prior to amendment, par. (1) read as

follows: ‘‘provides for the establishment and maintenance of a trust fund at a federally insured banking or

savings institution;’’.

Subsec. (b)(3). Pub. L. 103–382, §383(2)(B), struck out

‘‘same’’ before ‘‘banking or savings institution’’.

1990—Subsec. (b)(2)(B). Pub. L. 101–477, §1(d)(1)(A),

substituted ‘‘(or of a value) equal to half of’’ for ‘‘equal

to’’.

Subsec. (b)(4). Pub. L. 101–477, §1(d)(1)(B), substituted

‘‘an amount of Federal capital contribution equal to

twice the amount of (or value of) such withdrawal’’ for

‘‘an equal amount of Federal capital contribution’’.

EFFECTIVE DATE OF 1990 AMENDMENT

Section 1(d)(2) of Pub. L. 101–477 provided that: ‘‘The

amendments made by paragraphs (A) through (E) of

subsection (a) [probably means subpars. (A) to (E) of

subsec. (d)(1), amending this section and sections 1834

and 1835 of this title] shall take effect October 1, 1991.’’

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 1833, 1834, 1835

of this title.

§ 1833. Use of funds

Interest deposited, pursuant to section

1832(b)(2)(C) of this title, in the trust fund of any

tribally controlled community college may be

periodically withdrawn and used, at the discretion of such college, to defray any expenses associated with the operation of such college, including expense of operations and maintenance,

administration, academic and support personnel, community and student services programs,

and technical assistance.

(Pub. L. 95–471, title III, §303, as added Pub. L.

98–192, §13, Dec. 1, 1983, 97 Stat. 1342.)

§ 1834. Compliance with matching requirement

For the purpose of complying with the contribution requirement of section 1832(b)(2)(B) of

this title, a tribally controlled community college may use funds which are available from any

private or tribal source. Any real or personal

property received by a tribally controlled community college as a donation or gift on or after

October 30, 1990, may, to the extent of its fair

market value as determined by the Secretary,

be used by such college as its contribution pursuant to section 1832(b)(2)(B) of this title, or as

part of such contribution, as the case may be. In

any case in which any such real or personal

property so used is thereafter sold or otherwise

disposed of by such college, the proceeds therefrom shall be deposited pursuant to section

1832(b)(2)(B) of this title but shall not again be

considered for Federal capital contribution purposes.

(Pub. L. 95–471, title III, §304, as added Pub. L.

98–192, §13, Dec. 1, 1983, 97 Stat. 1342; amended

Pub. L. 101–477, §1(d)(1)(C), Oct. 30, 1990, 104 Stat.

1153.)

AMENDMENTS

1990—Pub. L. 101–477 inserted at end ‘‘Any real or personal property received by a tribally controlled community college as a donation or gift on or after October

30, 1990, may, to the extent of its fair market value as

determined by the Secretary, be used by such college as

its contribution pursuant to section 1832(b)(2)(B) of this

title, or as part of such contribution, as the case may

be. In any case in which any such real or personal property so used is thereafter sold or otherwise disposed of

by such college, the proceeds therefrom shall be deposited pursuant to section 1832(b)(2)(B) of this title but

shall not again be considered for Federal capital contribution purposes.’’

EFFECTIVE DATE OF 1990 AMENDMENT

Amendment by Pub. L. 101–477 effective Oct. 1, 1991,

see section 1(d)(2) of Pub. L. 101–477, set out as a note

under section 1832 of this title.

§ 1835. Allocation of funds

(a) From the amount appropriated pursuant to

section 1836 of this title, the Secretary shall allocate to each tribally controlled community