25 U.S.C. § 4134

Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)

Section 4134 - Types of investments

(a) In general

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) Investments

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.

25 U.S.C. § 4134

Pub. L. 104-330, title II, §204, Oct. 26, 1996, 110 Stat. 4033.

EDITORIAL NOTES

REFERENCES IN TEXTThis chapter, referred to in subsec. (a)(1), was in the original "this Act", meaning Pub. L. 104-330, 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 DATESection effective Oct. 1, 1997, except as otherwise expressly provided, see section 107 of Pub. L. 104-330set out as a note under section 4101 of this title.

Indian housing plan

The term "Indian housing plan" means a plan under section 4112 of this title.

Indian

The term "Indian" means any person who is a member of an Indian tribe.

affordable housing

The term "affordable housing" means housing that complies with the requirements for affordable housing under subchapter II. The term includes permanent housing for homeless persons who are persons with disabilities, transitional housing, and single room occupancy housing.

recipient

The term "recipient" means an Indian tribe or the entity for one or more Indian tribes that is authorized to receive grant amounts under this chapter on behalf of the tribe or tribes.