§4134 — Title 25 Indians | U.S. Code

Summary

Allow a tribe’s grant recipient to use the grant money for affordable housing in different ways, as long as they follow section 4133 and the tribe’s housing plan. They can use the funds as equity, make loans or advances (with or without interest), provide help that lowers interest, draw in private investment, or use other kinds of assistance the Secretary says fit the program. The recipient gets to set the details of that help. They may also invest grant money in securities or other approved investments if the Secretary agrees.

Title 25, §4134

Indians — Source: USLM XML via OLRC

(a)Subject to section 4133 of this title and the Indian housing plan for an Indian tribe, the recipient for that tribe shall have—

(1)the discretion to use grant amounts for affordable housing activities through equity investments, interest-bearing loans or advances, noninterest-bearing loans or advances, interest subsidies, leveraging of private investments, or any other form of assistance that the Secretary has determined to be consistent with the purposes of this chapter; and

(2)the right to establish the terms of assistance.

(b)A recipient may invest grant amounts for the purposes of carrying out affordable housing activities in investment securities and other obligations as approved by the Secretary.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This chapter, referred to in subsec. (a)(1), was in the original “this Act”, meaning Pub. L. 104–330, Oct. 26, 1996, 110 Stat. 4016, known as the Native American Housing Assistance and Self-Determination Act of 1996. For complete classification of this Act to the Code, see

Short Title

note set out under section 4101 of this title and Tables.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective Oct. 1, 1997, except as otherwise expressly provided, see section 107 of Pub. L. 104–330, set out as a note under section 4101 of this title.

§4134 Types of investments