25 U.S.C. § 1835: Allocation of funds

Summary

The Secretary must use the program’s appropriation to give each tribally controlled college or university that is eligible for an endowment grant a federal capital payment equal to twice the value of property or money the college shows it has placed under its control and can use as its own capital. No college can get more than $750,000 in any fiscal year. If the total money available is not enough to pay every college that full amount, each college’s payment will be cut back by the same percentage so the available funds can be shared.

Title 25, §1835

Indians, Source: USLM XML via OLRC

(a)From the amount appropriated pursuant to section 1836 of this title, the Secretary shall allocate to each tribally controlled college or university which is eligible for an endowment grant under this subchapter an amount for a Federal capital contribution equal to twice the value of the property or the amount which such college or university demonstrates has been placed within the control of, or irrevocably committed to the use of, the college or university and is available for deposit as a capital contribution of that college or university in accordance with section 1832(b)(2)(B) of this title, except that the maximum amount which may be so allocated to any such college or university for any fiscal year shall not exceed $750,000.

(b)If for any fiscal year the amount appropriated pursuant to section 1836 of this title is not sufficient to allocate to each tribally controlled college or university an amount equal to twice the value of the property or the amount demonstrated by such college or university pursuant to subsection (a), then the amount of the allocation to each such college or university shall be ratably reduced.

Notes & Related Subsidiaries

Editorial Notes

Amendments

1998—Subsec. (a). Pub. L. 105–244 substituted “controlled college or university” for “controlled community college”, “such college or university” for “such college” in two places, “the college or university” for “the college”, and “that college or university” for “that college”. Subsec. (b). Pub. L. 105–244, § 901(b)(5), (7), substituted “controlled college or university” for “controlled community college” and substituted “such college or university” for “such college” in two places. 1990—Pub. L. 101–477 inserted “twice the value of the property or” after “equal to” in subsecs. (a) and (b) and substituted “$750,000” for “$350,000” in subsec. (a).

Statutory Notes and Related Subsidiaries

Effective Date

of 1998 AmendmentAmendment by Pub. L. 105–244 effective Oct. 1, 1998, except as otherwise provided in Pub. L. 105–244, see section 3 of Pub. L. 105–244, set out as a note under section 1001 of Title 20, Education.

Effective Date

of 1990 AmendmentAmendment by Pub. L. 101–477 effective Oct. 1, 1991, see section 1(d)(2) of Pub. L. 101–477, set out as a note under section 1832 of this title.

§1835 Allocation of Funds

Summary

Title 25, §1835

Notes & Related Subsidiaries

Editorial Notes

Amendments

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Citations & Metadata