§ 4195. — Limitations on amount of guarantees.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 25USC4195]
TITLE 25--INDIANS
CHAPTER 43--NATIVE AMERICAN HOUSING ASSISTANCE AND SELF-DETERMINATION
SUBCHAPTER VI--FEDERAL GUARANTEES FOR FINANCING FOR TRIBAL HOUSING
ACTIVITIES
Sec. 4195. Limitations on amount of guarantees
(a) Aggregate fiscal year limitation
Notwithstanding any other provision of law and subject only to the
absence of qualified applicants or proposed activities and to the
authority provided in this subchapter, to the extent approved or
provided in appropriations Acts, the Secretary may enter into
commitments to guarantee notes and obligations under this subchapter
with an aggregate principal amount not to exceed $400,000,000 for each
of fiscal years 1997 through 2007.
(b) Authorization of appropriations for credit subsidy
There are authorized to be appropriated to cover the costs (as such
term is defined in section 661a of title 2) of guarantees under this
subchapter such sums as may be necessary for each of fiscal years 1997
through 2007.
(c) Aggregate outstanding limitation
The total amount of outstanding obligations guaranteed on a
cumulative basis by the Secretary pursuant to this subchapter shall not
at any time exceed $2,000,000,000 or such higher amount as may be
authorized to be appropriated for this subchapter for any fiscal year.
(d) Fiscal year limitations on tribes
The Secretary shall monitor the use of guarantees under this
subchapter by Indian tribes. If the Secretary finds that 50 percent of
the aggregate guarantee authority under subsection (c) of this section
has been committed, the Secretary may--
(1) impose limitations on the amount of guarantees any one
Indian tribe may receive in any fiscal year of $50,000,000; or
(2) request the enactment of legislation increasing the
aggregate outstanding limitation on guarantees under this
subchapter.
(Pub. L. 104-330, title VI, Sec. 605, Oct. 26, 1996, 110 Stat. 4047;
Pub. L. 107-292, Sec. 2(b), Nov. 13, 2002, 116 Stat. 2053.)
Amendments
2002--Subsecs. (a), (b). Pub. L. 107-292 substituted ``1997 through
2007'' for ``1997, 1998, 1999, 2000, and 2001''.
Effective Date
Section effective Oct. 26, 1996, see section 606 of Pub. L. 104-330,
set out as a note under section 4191 of this title.
