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25 U.S.C. § 1522 — Interest subsidies; rules and regulations

Federal law — U.S. Code and appendices · legal_authorities

25 U.S.C. § 1522 — Interest subsidies; rules and regulations

The Secretary is authorized under such rules and regulations as he may prescribe to pay as an interest subsidy on loans which are guaranteed or insured under the provisions of subchapter II of this chapter amounts which are necessary to reduce the rate payable by the borrower to the rate determined under [section 1464 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title25-section1464&num=0&edition=prelim).

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Source location: Title 25, Chapter 17, § 1522; chapter-017-financing-economic-development-of-indians-and-indian-organizations.md

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Federal law — U.S. Code and appendices · legal_authorities

25 U.S.C. § 1464 — Administration as single Indian Revolving Loan Fund sums from diverse sources; availability of fund for loans to Indians and for administrative expenses

In order to provide credit that is not available from private money markets, or to supplement funds from private lenders, including loans guaranteed by the Secretary pursuant to [section 1481 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title25-section1481&num=0&edition=prelim), all funds that are now or hereafter a part of the revolving fund authorized by the Act of June 18, 1934 (48 Stat. 986) [[25 U.S.C. 5101](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title25-section5101&num=0&edition=prelim) et seq.], the Act of June 26, 1936 (49 Stat. 1968),11 So in original. Probably should be “(49 Stat. 1967),”. and the Act of April 19, 1950 (64 Stat. 44), as amended and supplemented, including sums received in settlement of debts of livestock pursuant to sections 1545 and 1546 of this title, and sums collected in repayment of loans heretofore or hereafter made, and as interest or other charges on loans, shall hereafter be administered as a single Indian Revolving Loan Fund. The fund shall be available for loans to Indians having a form of organization that is satisfactory to the Secretary and for loans to individual Indians: Provided, That, where the Secretary determines a rejection of a loan application from a member of an organization making loans to its membership from moneys borrowed from the fund is unwarranted, he may, in his discretion, make a direct loan to such individual from the fund. The fund shall also be available for administrative expenses incurred in connection therewith, or, in the discretion of the Secretary of the Interior, as a contribution to the Indian Loan Guaranty and Insurance Fund authorized by [section 1497 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title25-section1497&

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Federal law — U.S. Code and appendices · legal_authorities

25 U.S.C. § 1522 — Conditions

Page 237 TITLE 25—INDIANS § 1541 SUBCHAPTER III—INTEREST SUBSIDIES AND ADMINISTRATIVE EXPENSES § 1511. Interest subsidies; rules and regulations The Secretary is authorized under such rules and regulations as he may prescribe to pay as an interest subsidy on loans which are guaranteed or insured under the provisions of subchapter II of this chapter amounts which are necessary to reduce the rate payable by the borrower to the rate determined under section 1464 of this title. (Pub. L. 93–262, title III, § 301, Apr. 12, 1974, 88 Stat. 82.) § 1512. Authorization of appropriations for inter- est payments There are authorized to be appropriated for fiscal year 1985, and for each fiscal year there- after, an amount which does not exceed $5,500,000 for purposes of making interest pay- ments authorized under this subchapter. Sums appropriated under this section, shall remain available until expended. (Pub. L. 93–262, title III, § 302, Apr. 12, 1974, 88 Stat. 82; Pub. L. 98–449, § 8, Oct. 4, 1984, 98 Stat. 1725.) Editorial Notes AMENDMENTS 1984—Pub. L. 98–449 amended section generally, sub- stituting provisions authorizing appropriations for pay- ment of interest under this subchapter for provisions authorizing appropriations for the Indian Loan Guar- antee and Insurance Fund, interest subsidies and ad- ministrative expenses. SUBCHAPTER IV—INDIAN BUSINESS GRANTS § 1521. Indian Business Development Program; establishment; statement of purpose There is established within the Department of the Interior the Indian Business Development Program whose purpose is to stimulate and in- crease Indian entrepreneurship and employment by providing equity capital through non- reimbursable grants made by the Secretary of the Interior to Indians and India

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