Title 25 — IndiansRelease 119-73not60

§4193 Payment of Interest

Title 25 › Chapter 43— NATIVE AMERICAN HOUSING ASSISTANCE AND SELF-DETERMINATION › Subchapter VI— FEDERAL GUARANTEES FOR FINANCING FOR TRIBAL HOUSING ACTIVITIES › § 4193

Last updated Apr 5, 2026|Official source

Summary

When Congress provides money, the Secretary may give grants (or contract for them) to an Indian tribe or housing group that issues guaranteed notes or other obligations to cover up to 30% of the net interest cost, including servicing or underwriting costs the Secretary lists. If funded and the Secretary finds the issuer cannot pay because of extreme hardship beyond its control, the Secretary may also help pay part or all of the principal and interest.

Full Legal Text

Title 25, §4193

Indians — Source: USLM XML via OLRC

The Secretary may make, and contract to make, grants, in such amounts as may be approved in appropriations Acts, to or on behalf of an Indian tribe or housing entity issuing notes or other obligations guaranteed under this subchapter, to cover not to exceed 30 percent of the net interest cost (including such servicing, underwriting, or other costs as may be specified in regulations of the Secretary) to the borrowing entity or agency of such obligations. The Secretary may also, to the extent approved in appropriations Acts, assist the issuer of a note or other obligation guaranteed under this subchapter in the payment of all or a portion of the principal and interest amount due under the note or other obligation, if the Secretary determines that the issuer is unable to pay the amount because of circumstances of extreme hardship beyond the control of the issuer.

Legislative History

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

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.

Reference

Citations & Metadata

Citation

25 U.S.C. § 4193

Title 25 — Indians

Last Updated

Apr 5, 2026

Release point: 119-73not60