PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Resources.
Congressional Research Service
Version 00 · Introduced in Senate · Sep 22, 2005
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.
People & committees
Sen. McCain, John [R-AZ] · R–AZ
Legislative record
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Referred to the House Committee on Resources.
Message on Senate action sent to the House.
Received in the House.
Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S10388-10389; text as passed Senate: CR S10389)
Passed/agreed to in Senate: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.(consideration: CR S10388-10389; text as passed Senate: CR S10389)
Introduced in Senate
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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