130 
to any one structure) as the Secretary of Housing and Urban Development 
considers appropriate, to cover the costs incurred by the National Trust in 
renovating or restoring structures that the National Trust considers to be of 
historic or architectural value and that the National Trust has accepted and 
will maintain (after the renovation or restoration) for historic purposes. 
§ 302904. Direct grants for the preservation of properties in-
cluded on National Register 
(a) ADMINISTRATION OF PROGRAM.—The Secretary shall administer a pro-
gram of direct grants for the preservation of properties included on the Na-
tional Register. 
(b) AVAILABLE AMOUNT.—Funds to support the program annually shall 
not exceed 10 percent of the amount appropriated annually for the Historic 
Preservation Fund. 
(c) USES OF GRANTS.— 
(1) IN GENERAL.—Grants under this section may be made by the Sec-
retary, in consultation with the appropriate State Historic Preservation 
Officer— 
(A) for the preservation of— 
(i) National Historic Landmarks that are threatened with 
demolition or impairment; and 
(ii) historic property of World Heritage significance; 
(B) for demonstration projects that will provide information con-
cerning professional methods and techniques having application to 
historic property; 
(C) for the training and development of skilled labor in trades 
and crafts, and in analysis and curation, relating to historic preser-
vation; and 
(D) to assist individuals or small businesses within any historic 
district included on the National Register to remain within the dis-
trict. 
(2) LIMIT ON CERTAIN GRANTS.—A grant may be made under sub-
paragraph (A) or (D) of paragraph (1) only to the extent that the project 
cannot be carried out in as effective a manner through the use of an in-
sured loan under section 303901 of this title. 
§ 302905. Religious property 
(a) IN GENERAL.—Grants may be made under this chapter for the preser-
vation, stabilization, restoration, or rehabilitation of religious property listed 
on the National Register if the purpose of the grant— 
(1) is secular; 
(2) does not promote religion; and 
(3) seeks to protect qualities that are historically significant. 
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(b) EFFECT OF SECTION.—Nothing in this section shall be construed to au-
thorize the use of any funds made available under this subdivision for the ac-
quisition of any religious property listed on the National Register. 
§ 302906. Grants and loans to Indian tribes and nonprofit or-
ganizations representing ethnic or minority groups 
The Secretary may, in consultation with the appropriate State Historic 
Preservation Officer, make grants or loans or both under this subdivision to 
Indian tribes and to nonprofit organizations representing ethnic or minority 
groups for the preservation of their cultural heritage. 
§ 302907. Grants to Indian tribes and Native Hawaiian orga-
nizations 
The Secretary shall administer a program of direct grants to Indian tribes 
and Native Hawaiian organizations for the purpose of carrying out this divi-
sion as it pertains to Indian tribes and Native Hawaiian organizations. 
Matching fund requirements may be modified. Federal funds available to an 
Indian tribe or Native Hawaiian organization may be used as matching 
funds for the purposes of the Indian tribe’s or Native Hawaiian organiza-
tion’s conducting its responsibilities pursuant to this subdivision. 
§ 302908. Grants to the Federated States of Micronesia, the 
Republic of the Marshall Islands, and the Republic 
of Palau 
(a) IN GENERAL.—As part of the program of matching grant assistance 
from the Historic Preservation Fund to States, the Secretary shall administer 
a program of direct grants to the Federated States of Micronesia, the Republic 
of the Marshall Islands, and the Republic of Palau in furtherance of the Com-
pact of Free Association between the United States and the Federated States 
of Micronesia and the Marshall Islands, approved by the Compact of Free As-
sociation Act of 1985 (48 U.S.C. 1901 et seq., 2001 et seq.), and the Compact 
of Free Association between the United States and Palau, approved by the 
Joint Resolution entitled ‘‘Joint Resolution to approve the ‘Compact of Free 
Association’ between the United States and Government of Palau, and for 
other purposes’’ (48 U.S.C. 1931 et seq.) or any successor enactment. 
(b) GOAL OF PROGRAM.—The goal of the program shall be to establish his-
toric and cultural preservation programs that meet the unique needs of each 
of those nations so that at the termination of the compacts the programs shall 
be firmly established. 
(c) BASIS OF ALLOCATING AMOUNTS.—The amounts to be made available 
under this subsection shall be allocated by the Secretary on the basis of needs 
as determined by the Secretary. 
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(d) WAIVERS AND MODIFICATIONS.—The Secretary may waive or modify 
the requirements of this subdivision to conform to the cultural setting of those 
nations. Matching funds may be waived or modified. 
§ 302909. Prohibited use of grant amounts 
No part of any grant made under this subdivision shall be used to com-
pensate any person intervening in any proceeding under this division. 
§ 302910. Recordkeeping 
A recipient of assistance under this division shall keep— 
(1) such records as the Secretary shall prescribe, including records that 
fully disclose— 
(A) the disposition by the recipient of the proceeds of the assist-
ance; 
(B) the total cost of the project or undertaking in connection with 
which the assistance is given or used; and 
(C) the amount and nature of that portion of the cost of the 
project or undertaking supplied by other sources; and 
(2) such other records as will facilitate an effective audit. 
Chapter 3031—Historic Preservation Fund 
Sec. 
303101.
Establishment. 
303102.
Content. 
303103.
Use and availability. 
§ 303101. Establishment 
To carry out this division (except chapter 3041) and chapter 3121, there 
is established in the Treasury the Historic Preservation Fund. 
§ 303102. Contents 
For each of fiscal years 2012 to 2015, $150,000,000 shall be deposited in 
the Historic Preservation Fund from revenues due and payable to the United 
States under section 9 of the Outer Continental Shelf Lands Act (43 U.S.C. 
1338), section 7433(b) of title 10, or both, notwithstanding any provision of 
law that those proceeds shall be credited to miscellaneous receipts of the Treas-
ury. 
§ 303103. Use and availability 
Amounts in the Historic Preservation Fund shall be used only to carry out 
this division and shall be available for expenditure only when appropriated 
by Congress. Any amount not appropriated shall remain available in the His-
toric Preservation Fund until appropriated for those purposes. Appropria-
tions made pursuant to this section may be made without fiscal year limita-
tion. 
Chapters 3033 Through 3037—Reserved 
Chapter 3039—Miscellaneous 
Sec. 
303901.
Loan insurance program for preservation of property included on National Register. 
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303902.
Training in, and dissemination of information concerning, professional methods and 
techniques for preservation of historic property. 
303903.
Preservation education and training program. 
§ 303901. Loan insurance program for preservation of prop-
erty included on National Register 
(a) ESTABLISHMENT.—The Secretary shall establish and maintain a pro-
gram by which the Secretary may, on application of a private lender, insure 
loans (including loans made in accordance with a mortgage) made by the 
lender to finance any project for the preservation of a property included on 
the National Register. 
(b) LOAN QUALIFICATIONS.—A loan may be insured under this section if— 
(1) the loan is made by a private lender approved by the Secretary 
as financially sound and able to service the loan properly; 
(2) the amount of the loan, and interest rate charged with respect to 
the loan, do not exceed the amount and rate established by the Secretary 
by regulation; 
(3) the Secretary has consulted the appropriate State Historic Preser-
vation Officer concerning the preservation of the historic property; 
(4) the Secretary has determined that the loan is adequately secured 
and there is reasonable assurance of repayment; 
(5) the repayment period of the loan does not exceed the lesser of 40 
years or the expected life of the asset financed; 
(6) the amount insured with respect to the loan does not exceed 90 per-
cent of the loss sustained by the lender with respect to the loan; and 
(7) the loan, the borrower, and the historic property to be preserved 
meet such other terms and conditions as may be prescribed by the Sec-
retary by regulation, especially terms and conditions relating to the na-
ture and quality of the preservation work. 
(c) CONSULTATION.—The Secretary shall consult with the Secretary of the 
Treasury regarding the interest rate of loans insured under this section. 
(d) LIMITATION ON AMOUNT OF UNPAID PRINCIPAL BALANCE OF LOANS.— 
The aggregate unpaid principal balance of loans insured under this section 
may not exceed the amount that has been deposited in the Historic Preserva-
tion Fund but which has not been appropriated for any purpose. 
(e) INSURANCE CONTRACTS.—Any contract of insurance executed by the 
Secretary under this section may be assignable, shall be an obligation sup-
ported by the full faith and credit of the United States, and shall be incontest-
able except for fraud or misrepresentation of which the holder had actual 
knowledge at the time it became a holder. 
(f) CONDITIONS AND METHODS OF PAYMENT AS RESULT OF LOSS.—The 
Secretary shall specify, by regulation and in each contract entered into under 
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