(a)Notwithstanding any other provision of law, the Secretary of the Interior shall not, in disbursing funds provided under sections
640c–3 of this title, use any method of payment which was not used during fiscal year 1987 in the disbursement of funds provided under sections
640c–3 of this title.
(A)Notwithstanding any provision of law other than subparagraph (B), any interest or investment income that accrues on any funds provided under sections
640c–3 of this title after such funds are paid to Dine College and before such funds are expended for the purpose for which such funds were provided under sections
640c–3 of this title shall be the property of Dine College and shall not be taken into account by any officer or employee of the Federal Government in determining whether to provide assistance, or the amount of assistance, to Dine College under any provision of Federal law.
(B)All interest or investment income described in subparagraph (A) shall be expended by Dine College by no later than the close of the fiscal year succeeding the fiscal year in which such interest or investment income accrues.
(2)Funds provided under sections
640c–3 of this title may only be invested by Dine College in obligations of the United States or in obligations or securities that are guaranteed or insured by the United States.
Section was not enacted as part of act Apr. 19, 1950, ch. 92, 64 Stat. 44, which comprises this subchapter.
2008—Subsec. (b). Pub. L. 110–315substituted “Dine College” for “the Navajo Community College” wherever appearing.
For effective date and applicability of section, see section 6303 ofPub. L. 100–297, set out as an Effective Date of 1988 Amendment note under section
1071 of Title
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
LII has no control over and does not endorse any external Internet site that contains links to or references LII.