25 U.S. Code § 2506 - Payment of grants; investment of funds
In a case in which the amount provided to a grant recipient under paragraph (1)(A) is in excess of the amount that the recipient is entitled to receive for the academic year involved, the recipient shall return to the Secretary such excess amount not later than 30 days after the final determination that the school was overpaid pursuant to this section. The amount returned to the Secretary under this paragraph shall be distributed equally to all schools in the system.
For any school for which no payment under this chapter was made from Bureau funds in the preceding academic year, full payment of the amount computed for the first academic year of eligibility under this chapter shall be made not later than December 1 of the academic year.
The provisions of chapter 39 of title 31 shall apply to the payments required to be made by paragraphs (1), (3), and (4).
Paragraphs (1), (3), and (4) shall be subject to any restriction on amounts of payments under this chapter that are imposed by a continuing resolution or other Act appropriating the funds involved.
Notwithstanding any other provision of law, any interest or investment income that accrues to any funds provided under this chapter after such funds are paid to the Indian tribe or tribal organization and before such funds are expended for the purpose for which such funds were provided under this chapter shall be the property of the Indian tribe or tribal organization 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, under any provision of Federal law. Such interest income shall be spent on behalf of the school.
 So in original. Probably should be “insured by an”.
A prior section 2506, Pub. L. 100–297, title V, § 5207, Apr. 28, 1988, 102 Stat. 391; Pub. L. 100–427, § 12, Sept. 9, 1988, 102 Stat. 1608, related to duration of eligibility determination, prior to repeal by Pub. L. 107–110, title X, § 1043, Jan. 8, 2002, 115 Stat. 2063. See section 2505 of this title.
LII has no control over and does not endorse any external Internet site that contains links to or references LII.