1. (a) In general Subject to section 4133 of this title and the Indian housing plan for an Indian tribe, the recipient for that tribe shall have—

   1. (1) the discretion to use grant amounts for affordable housing activities through equity investments, interest-bearing loans or advances, noninterest-bearing loans or advances, interest subsidies, leveraging of private investments, or any other form of assistance that the Secretary has determined to be consistent with the purposes of this chapter; and
   2. (2) the right to establish the terms of assistance.
2. (b) Investments A recipient may invest grant amounts for the purposes of carrying out affordable housing activities in investment securities and other obligations as approved by the Secretary.

(Pub. L. 104–330, title II, § 204, Oct. 26, 1996, 110 Stat. 4033.)

References in Text This chapter, referred to in subsec. (a)(1), was in the original “this Act”, meaning Pub. L. 104–330, Oct. 26, 1996, 110 Stat. 4016, known as the Native American Housing Assistance and Self-Determination Act of 1996. For complete classification of this Act to the Code, see Short Title note set out under section 4101 of this title and Tables.

Effective Date Section effective Oct. 1, 1997, except as otherwise expressly provided, see section 107 of Pub. L. 104–330, set out as a note under section 4101 of this title.