S. 1758 · 109th Congress
A bill to amend the Indian Financing Act of 1974, to provide for sale and assignment of loans and underlying…
Full title
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.
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Passed the Senate without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 109th Congress ended.
R
McCainSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- Senate Introduced Sep 22, 2005
- Senate Passed 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…
What it does: CRS summary · Passed Senate without amendment · Sep 22, 2005
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: 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.
Latest action (Sep 26, 2005): Referred to the House Committee on Resources.
Policy area: Native Americans · Origin: Senate · Introduced: Sep 22, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- Senate Introduced Sep 22, 2005
- Senate Passed Sep 22, 2005
No recorded floor vote found.