A bill 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 Native American owned or operated 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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Documents

8 official files

• Referred in House (text)

  Referred in House · EN · 26 September 2005

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• Referred in House (PDF)

  Referred in House · EN · 26 September 2005

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• Considered and Passed Senate (text)

  Considered and Passed Senate · EN · 22 September 2005

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• Considered and Passed Senate (PDF)

  Considered and Passed Senate · EN · 22 September 2005

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• Engrossed in Senate (text)

  Engrossed in Senate · EN · 22 September 2005

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• Engrossed in Senate (PDF)

  Engrossed in Senate · EN · 22 September 2005

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• Passed Senate without amendment

  summary · EN · 22 September 2005

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• Introduced in Senate

  summary · EN · 22 September 2005

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