To amend the Indian Financing Act of 1974 to provide for sale and assignment of loans and underlying security, and for other purposes.

Summary

Amends the Indian Financing Act of 1974 with respect to loan guaranty and insurance to: (1) authorize the Secretary of the Interior to guarantee or insure loans to both for-profit and nonprofit borrowers; and (2) allow all or any portion of a guaranteed or insured loan, including its security, to be transferred by the lender by sale or assignment to any person, and be retransferred by the transferee. Allows a fiscal transfer agent to be compensated through any of the fees assessed and any interest earned on any funds or fees the agent has collected while the funds or fees are in the agent's control and before the time at which the agent is contractually required to transfer such funds to the Secretary or to transferees or other holders. Makes loans made by an eligible Community Development Finance Institution eligible for guaranty or insurance. Increases from $500 million to $1.5 billion the amount of loans the Bureau of Indian Affairs can have outstanding. .

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Timeline

1. 8 February 2007

   Introduced

   Referred to the House Committee on Natural Resources.

   Source: IntroReferral

2. 8 February 2007

   Introduced

   Sponsor introductory remarks on measure. (CR 2/9/207 E300-301)

   Source: IntroReferral

3. 8 February 2007

   Introduced

   Introduced in House

   Source: IntroReferral

4. 8 February 2007

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 8 February 2007 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 8 February 2007

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 8 February 2007

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 8 February 2007

  Open at official source

Sponsors

• Sen. Udall, Mark [D-CO] · D · Sponsor
• · hsii00 · Standing

Related records

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