Indian Financing Act of 1974
Public Law 93-262 · S. 1341 · 93rd Congress · began in the Senate
Signed by Richard Nixon (R) on Apr 12, 1974 · Native Americans
Sponsor: Sen. Scoop Jackson (D-WA)
Cosponsors (2): Sen. Claiborne Pell, Sen. Thomas McIntyre
Passage votes
- HouseMethod not stated
- SenateMethod not stated
Data notes
The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.
Summary
The Congressional Research Service’s plain-language summary of what the law does.
Indian Financing Act - =Title I: Indian Revolving Loan Fund= - Establishes an Indian Revolving Loan Fund. Provides that the fund shall be available for loans to Indians having a form of organization that is satisfactory to the Secretary of the Interior and to other eligible Indians. States that loans may be made for any purpose which will promote the economic development of the individual Indian borrower, including loans for educational purposes, and the economic development of the Indian organizations. Sets out the terms and conditions of such loans.
=Title II: Loan Guaranty and Insurance= - Authorizes the Secretary of the Interior to guarantee up to 90 percent of the unpaid principal and interest due on any loan made to any organization of Indians or to individual Indians or in lieu of such guaranty, to insure such loans.
Requires the Secretary to fix premium charges for the insurance and guarantee of loans at such a rate as will adequately cover expenses and probable losses.
Sets out the terms and conditions of loan guarantees and insurance.
Makes provision for the eventuality of a default on a loan guaranteed under the provisions of this Act.
Requires lenders and holders of guaranty certificates to maintain adequate accounting records and to adequately service guaranteed or insured loans.
Authorizes the Secretary, with respect to matters arising out of the guaranty or insurance program authorized by this Act, to sue and be sued in his official capacity in any court of competent jurisdiction.
Provides that the Secretary may buy and sell property.
Creates an Indian Loan Guaranty and Insurance Fund which shall be available to the Secretary without fiscal year limitation for carrying out the provisions of this Act.
=Title III: Interest Subsidies and Administrative Expenses= - Authorizes the Secretary to pay interest subsidies on loans which are guaranteed or insured under the provisions of title II of this Act.
=Title IV: Indian Business Grants= - Establishes within the Department of the Interior, the Indian Business Development Program for the purpose of stimulating and increasing Indian entrepreneurship and employment by providing equity capital to aid in establishing and expanding Indian-owned economic enterprises on or near reservations.
=Title V:= Requires the Secretary to insure that any loan or grant applicant be provided with competent management and technical assistance consistent with the nature of the enterprise being funded.
Committees
The committees the bill was sent to, and what each did with it.
Data notes
A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 12 actions.
- Apr 12, 1974Became lawBecame law · Signed by President.
- PresidentPresident · Public law 93-262.
- Apr 2, 1974PresidentPresident · Measure presented to President.
- Apr 1, 1974Resolving differencesResolving differences · House agreed to Senate amendments.
- Mar 27, 1974Resolving differencesResolving differences · Senate agreed to House amendments with an amendment.
- Mar 18, 1974FloorFloor · Measure passed House, amended, in lieu of H.R. 6371.
- CommitteeCommittee · Discharged from House Natural Resources Committee
- Jul 30, 1973CommitteeCommittee · Referred to House Natural Resources Committee
- Jul 28, 1973FloorFloor · Measure passed Senate, amended.
- Jul 26, 1973CommitteeCommittee · Reported by Senate Energy and Natural Resources Committee
- Mar 22, 1973CommitteeCommittee · Referred to Senate Energy and Natural Resources Committee
- IntroducedIntroduced · Introduced in the Senate
Data notes
Shows the introduction, each committee and subcommittee step the source dates (referral, hearings, markup, report, discharge), and the floor, conference, presidential and became-law steps. Calendar placements, messages between the chambers, amendments and committee report numbers are not shown for laws before the 108th Congress. Two entries the source lists twice are shown once.
Official record
The bill’s full text and every action, including introduction and committee steps, are on Congress.gov. Data through Oct 7, 2026.