§ 1522. — Conditions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 25USC1522]
TITLE 25--INDIANS
CHAPTER 17--FINANCING ECONOMIC DEVELOPMENT OF INDIANS AND INDIAN
ORGANIZATIONS
SUBCHAPTER IV--INDIAN BUSINESS GRANTS
Sec. 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 determine to be appropriate, may be made under this subchapter.
(b) Financing from other sources; inability to obtain 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 subchapter, 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, Sec. 402, Apr. 12, 1974, 88 Stat. 83; Pub. L.
98-449, Sec. 9, Oct. 4, 1984, 98 Stat. 1725.)
Amendments
1984--Subsec. (a). Pub. L. 98-449 amended subsec. (a) generally,
substituting provisions setting forth different levels of maximum grant
amounts in cases of Indians and Indian tribes for provisions providing a
maximum of $50,000 in cases of both Indians and Indian tribes.
