dreamproit/uscode huggingface dataset:
25 U.S.C. § 1406 (INDIANS)
§ 1406. Rules and regulations
(a) Promulgation
The Secretary shall promulgate rules and regulations to implement this chapter no later than the end of the one hundred and eighty-day period beginning on October 19, 1973. Among other things, such rules and regulations shall provide for adequate notice to all entities and persons who may receive funds under any Indian judgment of all relevant procedures pursuant to this chapter concerning any such judgment.
(b) Publication in Federal Register
No later than sixty days prior to the promulgation of such rules and regulations the Secretary shall publish the proposed rules and regulations in the Federal Register.
(c) Hearings
No later than thirty days prior to the promulgation of such rules and regulations, the Secretary shall provide, with adequate public notice, the opportunity for hearings on the proposed rules and regulations, once published, to all interested parties.
(Pub. L. 93–134, § 6, Oct. 19, 1973, 87 Stat. 468.)
25 U.S.C. § 1407 (INDIANS)
§ 1407. Tax exemption; resources exemption limitation
None of the funds which—
(1) are distributed per capita or held in trust pursuant to a plan approved under the provisions of this chapter, or 1
(2) on January 12, 1983, are to be distributed per capita or are held in trust pursuant to a plan approved by the Congress prior to January 12, 1983,
(3) were distributed pursuant to a plan approved by Congress after December 31, 1981 but prior to January 12, 1983, and any purchases made with such funds, or
(4) are paid by the State of Minnesota to the Bois Forte Band of Chippewa Indians pursuant to the agreements of such Band to voluntarily restrict tribal rights to hunt and fish in territory cede 2 under the Treaty of September 30, 1854 (10 Stat. 1109), including all interest accrued on such funds during any period in which such funds are held in a minor’s trust,
including all interest and investment income accrued thereon while such funds are so held in trust, shall be subject to Federal or State income taxes, nor shall such funds nor their availability be considered as income or resources nor otherwise utilized as the basis for denying or reducing the financial assistance or other benefits to which such household or member would otherwise be entitled under the Social Security Act [42 U.S.C. 301 et seq.] or, except for per capita shares in excess of $2,000, any Federal or federally assisted program.
(Pub. L. 93–134, § 7, Oct. 19, 1973, 87 Stat. 468; Pub. L. 97–458, § 4, Jan. 12, 1983, 96 Stat. 2513; Pub. L. 106–568, title VIII, § 818, Dec. 27, 2000, 114 Stat. 2918.)
heading: References in Text
text: The Social Security Act, referred to in text, is act Aug. 14, 1935, ch. 531, 49 Stat. 620, as amended, which is classified generally to chapter 7 (§ 301 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see section 1305 of Title 42 and Tables.
heading: Amendments
text: 2000—Par. (4). Pub. L. 106–568 added par. (4).
1983—Pub. L. 97–458 amended section generally. Prior to amendment, section read as follows: “None of the funds distributed per capita or held in trust under the provisions of this chapter shall be subject to Federal or State income taxes, and the per capita payments shall not be considered as income or resources when determining the extent of eligibility for assistance under the Social Security Act”.
25 U.S.C. § 1408 (INDIANS)
§ 1408. Resources exemption
Interests of individual Indians in trust or restricted lands shall not be considered a resource, and up to $2,000 per year of income received by individual Indians that is derived from such interests shall not be considered income, in determining eligibility for assistance under the Social Security Act [42 U.S.C. 301 et seq.] or any other Federal or federally assisted program.
(Pub. L. 93–134, § 8, as added Pub. L. 97–458, § 4, Jan. 12, 1983, 96 Stat. 2514; amended Pub. L. 103–66, title XIII, § 13736(a), Aug. 10, 1993, 107 Stat. 663.)
heading: References in Text
text: The Social Security Act, referred to in text, is act Aug. 14, 1935, ch. 531, 49 Stat. 620, as amended, which is classified generally to chapter 7 (§ 301 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see section 1305 of Title 42 and Tables.
heading: Amendments
text: 1993—Pub. L. 103–66 inserted “, and up to $2,000 per year of income received by individual Indians that is derived from such interests shall not be considered income,” after “resource”.
heading: Effective Date of 1993 Amendment
text: Pub. L. 103–66, title XIII, § 13736(b), Aug. 10, 1993, 107 Stat. 663, provided that: “The amendment made by this section [amending this section] shall take effect on January 1, 1994.”
25 U.S.C. § 1451 (INDIANS)
§ 1451. Congressional declaration of policy
It is hereby declared to be the policy of Congress to provide capital on a reimbursable basis to help develop and utilize Indian resources, both physical and human, to a point where the Indians will fully exercise responsibility for the utilization and management of their own resources and where they will enjoy a standard of living from their own productive efforts comparable to that enjoyed by non-Indians in neighboring communities.
(Pub. L. 93–262, § 2, Apr. 12, 1974, 88 Stat. 77.)
heading: Short Title of 2006 Amendment
text: Pub. L. 109–221, § 1(a), May 12, 2006, 120 Stat. 336, provided that: “This Act [enacting section 494a of this title and section 1613a of Title 43, Public Lands, amending sections 348, 415, 464, 1481, 1485, 1486, 1497, 2206, 2706, and 2717 of this title and sections 1629b and 1629e of Title 43, enacting provisions set out as notes under sections 348 and 415 of this title and section 1629b of Title 43, and amending provisions set out as a note under section 2201 of this title] may be cited as the ‘Native American Technical Corrections Act of 2006’.”
heading: Short Title of 2002 Amendment
text: Pub. L. 107–331, title I, § 101, Dec. 13, 2002, 116 Stat. 2835, provided that: “This Act [enacting subchapter XIII of chapter 19 of this title, amending sections 415, 1484, and 1485 of this title, and enacting provisions set out as notes under sections 415 and 1485 of this title] may be cited as the ‘Indian Financing Amendments Act of 2002’.”
heading: Short Title of 1984 Amendment
text: Pub. L. 98–449, § 1, Oct. 4, 1984, 98 Stat. 1725, provided: “That this Act [enacting section 47a of this title and amending sections 1461, 1465, 1481, 1484, 1491, 1497, 1512, 1522, 1523, 1541, and 1543 of this title] may be cited as the ‘Indian Financing Act Amendments of 1984’.”
heading: Short Title
text: Pub. L. 93–262, § 1, Apr. 12, 1974, 88 Stat. 77, provided: “That this Act [enacting this chapter] may be cited as the ‘Indian Financing Act of 1974’.”
25 U.S.C. § 1452 (INDIANS)
§ 1452. Definitions
For the purpose of this chapter, the term—
(a) “Secretary” means the Secretary of the Interior.
(b) “Indian” means any person who is a member of any Indian tribe, band, group, pueblo, or community which is recognized by the Federal Government as eligible for services from the Bureau of Indian Affairs and any “Native” as defined in the Alaska Native Claims Settlement Act [43 U.S.C. 1601 et seq.].
(c) “Tribe” means any Indian tribe, band, group, pueblo, or community, including Native villages and Native groups (including corporations organized by Kenai, Juneau, Sitka, and Kodiak) as defined in the Alaska Native Claims Settlement Act [43 U.S.C. 1601 et seq.], which is recognized by the Federal Government as eligible for services from the Bureau of Indian Affairs.
(d) “Reservation” includes Indian reservations, public domain Indian allotments, former Indian reservations in Oklahoma, and land held by incorporated Native groups, regional corporations, and village corporations under the provisions of the Alaska Native Claims Settlement Act [43 U.S.C. 1601 et seq.].
(e) “Economic enterprise” means any Indian-owned (as defined by the Secretary of the Interior) commercial, industrial, or business activity established or organized for the purpose of profit: Provided, That such Indian ownership shall constitute not less than 51 per centum of the enterprise.
(f) “Organization”, unless otherwise specified, shall be the governing body of any Indian tribe, as defined in subsection (c) of this section, or entity established or recognized by such governing body for the purpose of this chapter.
(g) “Other organizations” means any non-Indian individual, firm, corporation, partnership, or association.
(h) “Surety” has the same meaning as in section 694a of title 15.
(i) “Surety Bond” means a bid bond, payment bond, or performance bond as those terms are defined in section 694a of title 15.
(Pub. L. 93–262, § 3, Apr. 12, 1974, 88 Stat. 77; Pub. L. 100–442, § 5(b), Sept. 22, 1988, 102 Stat. 1764.)
heading: References in Text
text: The Alaska Native Claims Settlement Act, referred to in pars. (b) to (d), is Pub. L. 92–203, Dec. 18, 1971, 85 Stat. 688, as amended, which is classified generally to chapter 33 (§ 1601 et seq.) of Title 43, Public Lands. For complete classification of this Act to the Code, see Short Title note set out under section 1601 of Title 43 and Tables.
heading: Amendments
text: 1988—Pars. (h), (i). Pub. L. 100–442 added pars. (h) and (i).
25 U.S.C. § 1453 (INDIANS)
§ 1453. Assistance or activities of other Federal agencies unaffected
No provision of this chapter or any other Act shall be construed to terminate or otherwise curtail the assistance or activities of the Small Business Administration or any other Federal agency with respect to any Indian tribe, organization, or individual because of their eligibility for assistance under this chapter.
(Pub. L. 93–262, § 4, Apr. 12, 1974, 88 Stat. 77.)
25 U.S.C. § 1462 (INDIANS)
§ 1462. Economic development; educational loans; limitation of loans to or investments in non-Indian organizations
Loans may be made for any purpose which will promote the economic development of (a) the individual Indian borrower, including loans for educational purposes, and (b) the Indian organization and its members including loans by such organizations to other organizations and investments in other organizations regardless of whether they are organizations of Indians: Provided, That not more than 50 per centum of loan made to an organization shall be used by such organization for the purpose of making loans to or investments in non-Indian organizations.
(Pub. L. 93–262, title I, § 102, Apr. 12, 1974, 88 Stat. 78.)
25 U.S.C. § 1463 (INDIANS)
§ 1463. Repayment of loan; financing from other sources
Loans may be made only when, in the judgment of the Secretary, there is a reasonable prospect of repayment, and only to applicants who in the opinion of the Secretary are unable to obtain financing from other sources on reasonable terms and conditions.
(Pub. L. 93–262, title I, § 103, Apr. 12, 1974, 88 Stat. 78.)
25 U.S.C. § 1464 (INDIANS)
§ 1464. Maturity of loans; interest rate; interest deferral on educational loans
Loans shall be for terms that do not exceed thirty years and shall bear interest at (a) a rate determined by the Secretary of the Treasury taking into consideration the market yield on municipal bonds: Provided, That in no event shall the rate be greater than the rate determined by the Secretary of the Treasury taking into consideration the current average yield on outstanding marketable obligations of the United States of comparable maturity, plus (b) such additional charge, if any, toward covering other costs of the program as the Secretary may determine to be consistent with its purpose: Provided, That educational loans may provide for interest to be deferred while the borrower is in school or in the military service.
(Pub. L. 93–262, title I, § 104, Apr. 12, 1974, 88 Stat. 78.)
25 U.S.C. § 1465 (INDIANS)
§ 1465. Modification of amount of loan and document securing loan in collection of loan or in best interests of the United States
The Secretary may cancel, adjust, compromise, or reduce the amount of any loan or any portion thereof heretofore or hereafter made from the revolving loan fund established by this subchapter and its predecessor constituent funds which he determines to be uncollectable in whole or in part, or which is collectable only at an unreasonable cost, or when such action would, in his judgment, be in the best interests of the United States. He may also adjust, compromise, subordinate, or modify the terms of any mortgage, lease, assignment, contract, agreement, or other document taken to secure such loans.
(Pub. L. 93–262, title I, § 105, Apr. 12, 1974, 88 Stat. 78; Pub. L. 98–449, § 3, Oct. 4, 1984, 98 Stat. 1725.)
heading: Amendments
text: 1984—Pub. L. 98–449 struck out proviso at end of first sentence which provided that proceedings pursuant to this section would be effective only after following the procedure set out in section 386a of this title.
25 U.S.C. § 1466 (INDIANS)
§ 1466. Land and personal property title
Title to any land purchased by a tribe or by an individual Indian with loans made from the revolving loan fund may be taken in trust unless the land is located outside the boundaries of a reservation or a tribal consolidation area approved by the Secretary. Title to any land purchased by a tribe or an individual Indian which is outside the boundaries of the reservation or approved consolidation area may be taken in trust if the purchaser was the owner of trust or restricted interests in the land before the purchase, otherwise title shall be taken in the name of the purchasers without any restriction on alienation, control, or use. Title to any personal property purchased with a loan from the revolving loan fund shall be taken in the name of the purchaser.
(Pub. L. 93–262, title I, § 106, Apr. 12, 1974, 88 Stat. 78.)
25 U.S.C. § 1467 (INDIANS)
§ 1467. Security for loan; assignment of securities; reasonable assurance of repayment
Any organization receiving a loan from the revolving loan fund shall be required to assign to the United States as security for the loan all securities acquired in connection with the loans made to its members from such funds unless the Secretary determines that the repayment of the loan to the United States is otherwise reasonably assured.
(Pub. L. 93–262, title I, § 107, Apr. 12, 1974, 88 Stat. 79.)
25 U.S.C. § 1468 (INDIANS)
§ 1468. Authorization of appropriations
There is authorized to be appropriated, to provide capital and to restore any impairment of capital for the revolving loan fund $50,000,000 exclusive of prior authorizations and appropriations.
(Pub. L. 93–262, title I, § 108, Apr. 12, 1974, 88 Stat. 79.)
25 U.S.C. § 1481 (INDIANS)
§ 1481. Loan guaranties and insurance
(a) In general
In order to provide access to private money sources which otherwise would not be available, the Secretary may—
(1) guarantee not to exceed 90 per centum of the unpaid principal and interest due on any loan made to any organization of Indians having a form or organization satisfactory to the Secretary, and to individual Indians; or
(2) insure loans under an agreement approved by the Secretary whereby the lender will be reimbursed for losses in an amount not to exceed 15 per centum of the aggregate of such loans made by it, but not to exceed 90 per centum of the loss on any one loan.
(b) Eligible borrowers
The Secretary may guarantee or insure loans under subsection (a) to both for-profit and nonprofit borrowers.
(Pub. L. 93–262, title II, § 201, Apr. 12, 1974, 88 Stat. 79; Pub. L. 98–449, § 4, Oct. 4, 1984, 98 Stat. 1725; Pub. L. 109–221, title IV, § 401(a), May 12, 2006, 120 Stat. 341.)
heading: Amendments
text: 2006—Pub. L. 109–221, § 401(a)(1), (2), (4), inserted section catchline, designated existing provisions as subsec. (a) and inserted heading, substituted “the Secretary may—
“(1) guarantee”
for “Secretary is authorized (a) to guarantee”, and added subsec. (b).
Pub. L. 109–221, § 401(a)(3), which directed substitution of “members; or
“(2) insure”
for “members; and (b) in lieu of such guaranty, to insure”, was executed by making the substitution for “and (b) in lieu of such guaranty, to insure” to reflect the probable intent of Congress and the amendment by Pub. L. 98–449. See 1984 Amendment note below.
1984—Pub. L. 98–449 struck out “who are not members of or eligible for membership in an organization which is making loans to its members” before “; and (b)”.
25 U.S.C. § 1482 (INDIANS)
§ 1482. Premium charges; deposits in Indian Loan Guaranty and Insurance Fund
The Secretary shall fix such premium charges for the insurance and guarantee of loans as are in his judgment adequate to cover expenses and probable losses, and deposit receipts from such charges in the Indian Loan Guaranty and Insurance Fund established pursuant to section 1497(a) of this title.
(Pub. L. 93–262, title II, § 202, Apr. 12, 1974, 88 Stat. 79.)
25 U.S.C. § 1483 (INDIANS)
§ 1483. Interest rate
Loans guaranteed or insured pursuant to this subchapter shall bear interest (exclusive of premium charges for insurance, and service charge, if any) at rates not to exceed such per centum per annum on the principal obligation outstanding as the Secretary determines to be reasonable taking into consideration the range of interest rates prevailing in the private market for similar loans and the risks assumed by the United States.
(Pub. L. 93–262, title II, § 203, Apr. 12, 1974, 88 Stat. 79.)
25 U.S.C. § 1484 (INDIANS)
§ 1484. Application for loan; approval by Secretary; issuance of certificate; limitations on amount of loans to individual Indians or economic enterprises; review by Secretary
The application for a loan to be guaranteed hereunder shall be submitted to the Secretary for approval. The Secretary may review each loan application individually and independently from the lender. Upon approval, the Secretary shall issue a certificate as evidence of the guaranty. Such certificate shall be issued only when, in the judgment of the Secretary, there is a reasonable prospect of repayment. No loan to an individual Indian may be guaranteed or insured which would cause the total unpaid principal indebtedness to exceed $500,000. No loan to an economic enterprise (as defined in section 1452 of this title) in excess of $250,000, or such lower amount as the Secretary may determine to be appropriate, shall be insured unless prior approval of the loan is obtained from the Secretary.
(Pub. L. 93–262, title II, § 204, Apr. 12, 1974, 88 Stat. 79; Pub. L. 98–449, § 5, Oct. 4, 1984, 98 Stat. 1725; Pub. L. 100–442, § 1, Sept. 22, 1988, 102 Stat. 1763; Pub. L. 101–644, title III, § 303(b), Nov. 29, 1990, 104 Stat. 4668; Pub. L. 107–331, title I, § 103(a), Dec. 13, 2002, 116 Stat. 2836.)
heading: Amendments
text: 2002—Pub. L. 107–331 substituted “$250,000” for “$100,000”.
1990—Pub. L. 101–644 struck out “prior” before “approval” in first sentence and substituted “may review” for “shall review” in second sentence.
1988—Pub. L. 100–442 substituted “$500,000” for “$350,000”.
1984—Pub. L. 98–449 substituted “$350,000” for “$100,000”, and inserted after first sentence “The Secretary shall review each loan application individually and independently from the lender.”
25 U.S.C. § 1486 (INDIANS)
§ 1486. Loans ineligible for guaranty or insurance
Loans made by any agency or instrumentality of the Federal Government (not including an eligible Community Development Finance Institution), or by an organization of Indians from funds borrowed from the United States, and loans the interest on which is not included in gross income for the purposes of chapter 1 of title 26 shall not be eligible for guaranty or insurance hereunder.
(Pub. L. 93–262, title II, § 206, Apr. 12, 1974, 88 Stat. 80; Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095; Pub. L. 109–221, title IV, § 401(c), May 12, 2006, 120 Stat. 342.)
heading: Amendments
text: 2006—Pub. L. 109–221 inserted “(not including an eligible Community Development Finance Institution)” after “Government”.
1986—Pub. L. 99–514 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text.
25 U.S.C. § 1487 (INDIANS)
§ 1487. Loans eligible for insurance
Any loans insured hereunder shall be restricted to those made by a financial institution subject to examination and supervision by an agency of the United States, a State, or the District of Columbia, and to loans made by Indian organizations from their own funds to other tribes or organizations of Indians.
(Pub. L. 93–262, title II, § 207, Apr. 12, 1974, 88 Stat. 80.)
25 U.S.C. § 1488 (INDIANS)
§ 1488. Lenders authorized to make loans; decrease or increase of liability under the guaranty
Loans guaranteed hereunder may be made by any lender satisfactory to the Secretary, except as provided in section 1486 of this title. The liability under the guaranty shall decrease or increase pro rata with any decrease or increase in the unpaid portion of the obligation.
(Pub. L. 93–262, title II, § 208, Apr. 12, 1974, 88 Stat. 80.)
25 U.S.C. § 1489 (INDIANS)
§ 1489. Loans made by certain financial institutions without regard to limitations and restrictions of other Federal statutes with respect to certain particulars
Any loan made by any national bank or Federal savings and loan association, or by any bank, trust company, building and loan association, or insurance company authorized to do business in the District of Columbia, at least 20 per centum of which is guaranteed hereunder, may be made without regard to the limitations and restrictions of any other Federal statute with respect to (a) ratio of amount of loan to the value of the property; (b) maturity of loans; (c) requirement of mortgage or other security; (d) priority of lien; or (e) percentage of assets which may be invested in real estate loans.
(Pub. L. 93–262, title II, § 209, Apr. 12, 1974, 88 Stat. 80.)
25 U.S.C. § 1491 (INDIANS)
§ 1491. Defaults; written notification; pro rata payments; subrogation and assignment rights of Secretary; cancellation of uncollectable portion of obligations; forbearance for benefit of borrower; interest or charges cessation date
In the event of a default of a loan guaranteed hereunder, the holder of the guaranty certificate may immediately notify the Secretary in writing of such default and the Secretary shall thereupon pay to such holder the pro rata portion of the amount guaranteed and shall be subrogated to the rights of the holder of the guaranty and receive an assignment of the obligation and security. The Secretary may cancel the uncollectable portion of any obligation, to which he has an assignment or a subrogated right under this section. Nothing in this section shall be construed to preclude any forbearance for the benefit of the borrower as may be agreed upon by the parties to the loan and approved by the Secretary. The Secretary may establish the date, not later than the date of judgment and decree of foreclosure or sale, upon which accrual of interest or charges shall cease.
(Pub. L. 93–262, title II, § 211, Apr. 12, 1974, 88 Stat. 80; Pub. L. 98–449, § 6, Oct. 4, 1984, 98 Stat. 1725.)
heading: Amendments
text: 1984—Pub. L. 98–449 struck out proviso at end of second sentence which provided that proceedings pursuant to this section shall be effective only after following the procedure set out in section 386a of this title.