H.R. 5780: To amend the Indian Financing Act of 1974 to provide for sale and assignment of loans and underlying security, and for other purposes.

109th Congress · introduced 2006-07-12 · Native Americans · Latest: Executive Comment Requested from Interior.

federal

Follow this bill, step by step

Where it came from: introduced 2006-07-12 · official record
Who proposed it: Rep. Udall, Mark [D-CO-2] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Executive Comment Requested from Interior. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

To amend the Indian Financing Act of 1974 to provide for sale and assignment of loans and underlying security, and for other purposes.

Plain summary

Amends the Indian Financing Act of 1974 with respect to loan guaranty and insurance to: (1) authorize the Secretary of the Interior to guarantee or insure loans to both for-profit and nonprofit borrowers; and (2) allow all or any portion of a guaranteed or insured loan, including its security, to be transferred by the lender by sale or assignment to any person, and be retransferred by the transferee. Allows a fiscal transfer agent to be compensated through any of the fees assessed and any interest earned on any funds or fees the agent has collected while the funds or fees are in the agent's control and before the time at which the agent is contractually required to transfer such funds to the Secretary or to transferees or other holders. Makes loans made by an eligible Community Development Finance Institution eligible for guaranty or insurance. Increases from $500 million to $1.5 billion the amount of loans the Bureau of Indian Affairs can have outstanding. .

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

To amend the Indian Financing Act of 1974 to provide for sale and assignment of loans and underlying security, and for other purposes.

Source: Congressional Research Service summary (Introduced in House)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Udall, Mark [D-CO-2] · 0 cosponsors

Cost estimate: No cost estimate published yet.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Authorization: A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-109hr5780.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/109/hr>

Record fed-us-cong109-hr5780 · catalog fed-us-congress-bills-cong109 · updated 2026-11-15 by psicol fed-bills-cong109