Conditions — Us Code Code § 1522
Us Code Code § 1522 — Conditions. Reproduced from the official United States Code, with a citation summary, verification link, and related provisions.
§ 1522. Conditions
(a) Limitation of amount
No grant in excess of $100,000 in the case of an Indian and $250,000 in the case of an Indian tribe, or such lower amount as the Secretary may determine to be appropriate, may be made under this subchapter.
(b) Financing from other sources; inability to obtain funds; applicant's financial resources
A grant may be made only to an applicant who, in the opinion of the Secretary, is unable to obtain adequate financing for its economic enterprise from other sources: Provided, That prior to making any grant under this subchapter, the Secretary shall assure that, where practical, the applicant has reasonably made available for the economic enterprise funds from the applicant's own financial resources.
(c) Percentage requirement
No grant may be made to an applicant who is unable to obtain at least 60 per centum of the necessary funds for the economic enterprise from other sources.
(Pub. L. 93–262, title IV, §402, Apr. 12, 1974, 88 Stat. 83; Pub. L. 98–449, §9, Oct. 4, 1984, 98 Stat. 1725.)
Editorial Notes
Amendments
1984—Subsec. (a). Pub. L. 98–449 amended subsec. (a) generally, substituting provisions setting forth different levels of maximum grant amounts in cases of Indians and Indian tribes for provisions providing a maximum of $50,000 in cases of both Indians and Indian tribes.
About This Section
25 U.S.C. § 1522 is part of Title 25 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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