Summary: S.459 — 105th Congress (1997-1998)All Information (Except Text)

Bill summaries are authored by CRS.

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Passed House amended (10/09/1998)

Native American Programs Act Amendments of 1997 - Amends the Native American Programs Act of 1974 to extend authorizations of appropriations through FY 2002 for: (1) social and economic activities under such Act; (2) environmental improvement grants; and (3) native languages preservation grants.

(Sec. 3) Revises provisions relating to the Native Hawaiian revolving loan fund to: (1) direct the Secretary of Health and Human Services to award a grant (currently, award grants) to the Office of Hawaiian Affairs of the State of Hawaii for use in carrying out a demonstration project involving the establishment of the revolving loan fund to make loans or loan guarantees (currently, make loans) to Native Hawaiian organizations and to individual Native Hawaiians for the purpose of promoting economic development; (2) provide that each loan or loan guarantee made shall be for a term not to exceed seven years (currently, loans made shall be for a term not to exceed five years); (3) limit the rate of interest on each loan or loan guarantee made to a rate equal to the most recently published prime rate, and three percentage points (currently, the rate of interest is two percentage points below the average market yield on the most recent U.S. Treasury bills); and (4) authorize appropriations for FY 2000 and 2001.