§1522 — Title 25 Indians | U.S. Code

Summary

Limits how big grants can be and who can get them. Grants may not exceed $100,000 for an Indian and $250,000 for an Indian tribe, unless the Secretary sets lower caps. Only applicants who cannot get other financing, who have used their own funds when practical, and who can obtain at least 60% of the needed funds from other sources may receive a grant.

Title 25, §1522

Indians — Source: USLM XML via OLRC

(a)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)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)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.

Notes & Related Subsidiaries

Editorial Notes

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.

§1522 Conditions

Summary

Title 25, §1522

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata