Indian Financing Act Amendments of 1984

Summary

Indian Financing Act Amendments of 1984 - Amends the Indian Financing Act of 1974 to allow the Secretary of the Interior to modify the amount of an outstanding loan without following certain procedures prescribed by statute. Pledges the full faith and credit of the United States to fulfill loan obligations incurred by the Secretary with respect to Indian organizations and individual Indians. Raises from $100,000 to $200,000 the ceiling on loan guarantees made to individual Indians. Requires the Secretary to review each loan application independently from the lender. Directs the Secretary and the lender to maintain close supervision and management of approved loans. Requires the Secretary to adopt credit procedures which: (1) identify and predict problem situations before they occur; and (2) ensure that losses are minimized. Deletes the requirement that the Secretary must follow specified procedures before paying a guaranteed loan which is in default. Authorizes appropriations for deposit into the Indian Loan Guaranty and Insurance Fund. Pledges the full faith and credit of the United States behind any contractual obligation incurred by the Secretary to pay any interest subsidy on guaranteed loans. Authorizes appropriations for making specified interest payments for FY 1985 and each fiscal year thereafter. Places a ceiling on such payments at $5,500,000. Authorizes the Secretary to use any amounts in the Indian Loan Guaranty and Insurance Fund for contracts providing technical and management assistance to economic enterprises.

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Documents

6 official files

• Public Law (PDF)

  Public Law · EN · 5 October 1984

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• Senate agreed to House amendment with amendment

  summary · EN · 21 September 1984

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• Passed House amended

  summary · EN · 11 September 1984

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• Passed Senate amended

  summary · EN · 8 June 1984

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• Reported to Senate with amendment(s)

  summary · EN · 18 May 1984

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• Introduced in Senate

  summary · EN · 1 May 1984

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