Sec. 2. Set-aside of USDA rural housing funding for Indian Tribes
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Section 509 of the Housing Act of 1949 ( 42 U.S.C. 1479 ) is amended by adding at the end the following: In this subsection— the term community development financial institution has the meaning given the term in section 103 of the Community Development Banking and Financial Institutions Act of 1994 ( 12 U.S.C. 4702 ); the term Indian Tribe , notwithstanding section 501 of this Act, has the meaning given the term Indian tribe in section 4 of the Native American Housing Assistance and Self-Determination Act of 1996 ( 25 U.S.C. 4103 ); the term Native community development financial institution means an entity— that has been certified as a community development financial institution by the Secretary of the Treasury; that is not less than 50 percent owned or controlled by Indian Tribes, members of Indian Tribes, or Native Hawaiians; and for which not less than 50 percent of the activities of the entity serve Indian Tribes, members of Indian Tribes, or Native Hawaiians; the term Native Hawaiian has the meaning given the term in section 801 of the Native American Housing Assistance and Self-Determination Act of 1996 ( 25 U.S.C. 4221 ); the term tribally designated housing entity has the meaning given the term in section 4 of the Native American Housing Assistance and Self-Determination Act of 1996 ( 25 U.S.C. 4103 ); and the term tribal-owned entity means an entity, whether for-profit or non-profit— that is not less than 50 percent owned or controlled by Indian Tribes, members of Indian Tribes, or Native Hawaiians; and for which not less than 50 percent of the activities of the entity serve Indian Tribes, members of Indian Tribes, or Native Hawaiians.
For each fiscal year, with respect to assistance under sections 502, 504, 514, 515, 516, 521(a), 525, 533, and 538, the Secretary shall set aside and reserve for assistance for the Indian Tribes, tribally designated housing entities, members of Indian Tribes and Native Hawaiians, and tribal-owned entities (including Native community development financial institutions) that are otherwise eligible for assistance under the applicable sections an amount equal to 5.0 percent of the aggregate amount of lending authority, budget authority, or guarantee authority, as appropriate, made available for the fiscal year for assistance under each of those sections to make, modify, or guarantee loans or to carry out programs or activities.
The procedure under paragraph
(2)for reserving amounts shall provide that any assistance set aside in any fiscal year that has not been expended by a reasonable date established by the Secretary shall be made available and allocated under the laws and regulations relating to such assistance, notwithstanding this subsection. .
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Sec. 2
Set-aside of USDA rural housing funding for Indian Tribes
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