25 U.S.C. § 1512 — Authorization of appropriations for inter-

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 Indian tribes to es- tablish and expand profit-making Indian-owned economic enterprises on or near reservations. (Pub. L. 93–262, title IV, § 401, Apr. 12, 1974, 88 Stat. 82.) § 1522. Conditions (a) Limitation of amount No grant in excess of $100,000 in the case of an Indian and $250,000 in the case of an Indian tribe, or such lower amount as the Secretary may de- termine to be appropriate, may be made under this subchapter. (b) Financing from other sources; inability to ob- tain funds; applicant’s financial resources A grant may be made only to an applicant who, in the opinion of the Secretary, is unable to obtain adequate financing for its economic enterprise from other sources: Provided, That prior to making any grant under this sub- chapter, the Secretary shall assure that, where practical, the applicant has reasonably made available for the economic enterprise funds from the applicant’s own financial resources. (c) Percentage requirement No grant may be made to an applicant who is unable to obtain at least 60 per centum of the necessary funds for the economic enterprise from other sources. (Pub. L. 93–262, title IV, § 402, Apr. 12, 1974, 88 Stat. 83; Pub. L. 98–449, § 9, Oct. 4, 1984, 98 Stat. 1725.) Editorial Notes AMENDMENTS 1984—Subsec. (a). Pub. L. 98–449 amended subsec. (a) generally, substituting provisions setting forth dif- ferent levels of maximum grant amounts in cases of In- dians and Indian tribes for provisions providing a max- imum of $50,000 in cases of both Indians and Indian tribes. § 1523. Authorization of appropriations There are authorized to be appropriated not to exceed the sum of $10,000,000 per year for fiscal year 1986 and each fiscal year thereafter for the purposes of this subchapter. (Pub. L. 93–262, title IV, § 403, Apr. 12, 1974, 88 Stat. 83; Pub. L. 95–68, July 20, 1977, 91 Stat. 272; Pub. L. 98–449, § 10, Oct. 4, 1984, 98 Stat. 1726.) Editorial Notes AMENDMENTS 1984—Pub. L. 98–449 amended section generally, sub- stituting ‘‘$10,000,000’’ for ‘‘$14,000,000’’ and ‘‘1986 and each fiscal year thereafter’’ for ‘‘1978 and 1979’’. 1977—Pub. L. 95–68 substituted ‘‘$14,000,000 for each of the fiscal years 1978 and 1979’’ for ‘‘$10,000,000 for each of the fiscal years 1975, 1976, and 1977’’. § 1524. Rules and regulations The Secretary of the Interior is authorized to prescribe such rules and regulations as may be necessary to carry out the purposes of this chap- ter. (Pub. L. 93–262, title IV, § 404, Apr. 12, 1974, 88 Stat. 83.) SUBCHAPTER V—MISCELLANEOUS PROVISIONS § 1541. Competent management and technical as- sistance for economic enterprises Prior to and concurrent with the making or guaranteeing of any loan under subchapters I and II of this chapter and with the making of a grant under subchapter IV of this chapter, the purpose of which is to fund the development of an economic enterprise, the Secretary shall in- sure that the loan or grant applicant shall be provided competent management and technical assistance for preparation of the application and/or administration of funds granted con- sistent with the nature of the enterprise pro- posed to be or in fact funded. (Pub. L. 93–262, title V, § 501, Apr. 12, 1974, 88 Stat. 83; Pub. L. 98–449, § 12, Oct. 4, 1984, 98 Stat. 1726.)