Indian Financing Act Reform Amendment
Latest action. Placed on the Union Calendar, Calendar No. 379.
Indian Financing Act Reform Amendment - Amends the Indian Financing Act of 1974 to increase from $100,000 to $250,000 the amount of Bureau of Indian Affairs (BIA) insured loans a lender can offer to a borrower. Permits the transfer (currently sale or assign only) of insured or guaranteed loans made under such Act. Requires that the Secretary of the Interior be notified of such transfers. Continues the lender's obligation on the guarantee or insurance agreement, responsibility for servicing, and status as the secured creditor of record notwithstanding any transfer. Pledges the full faith and credit of the United States behind loan guarantees and loan insurance made under this Act. Authorizes the Secretary to recover damages from a lender for material breach of obligations under a guaranteed or insured loan.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Reported to House with amendment(s)" stage on September 4, 2002. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on September 4, 2002: Placed on the Union Calendar, Calendar No. 379.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 107th Congress (2001-02), 377 of the 9,126 bills and joint resolutions introduced became law, about 4.1 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
Mary Bono (R-CA) introduced it on December 5, 2001, and 6 members have since signed on as cosponsors.
They come from both major parties: 3 Democrats, 3 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on December 5, 2001, 9045 days ago. The most recent recorded action was 8772 days ago, on September 4, 2002.
Measures do not carry over. Anything the 107th Congress has not finished by January 3, 2003 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers