AMENDING THE INDIAN FINANCING ACT
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Mr. McCAIN. Mr. President, today I rise in support of the Indian Fianancing Act Amendments of 2005, originally introduced as a component of the Native American Omnibus Act of 2005. I'm pleased to be joined by the vice chairman of the Senate Indian Affairs Committee, Byron Dorgan, on this bill.
The Indian financing act amendments, amends the Indian finance act of 1974 to clarify that non-profit tribal entities are eligible for the BIA Loan Guaranty program. The amendments also raises the limit on the amount of loans to $1.5 billion from $500 million.
I look forward to working with my respective colleagues on both sides of the aisle to enact this legislation.