PAYMENT OF GRANTS; INVESTMENT OF FUNDS.

SEC 5208. PAYMENT OF GRANTS; INVESTMENT OF FUNDS. (a) Payments.— (1) Except as otherwise provided in this subsection, the Secretary shall make payments to grantees under this part in two payments: (A) one payment to be made no later than October 1 of each fiscal year in an amount equal to one-half the amount paid during the preceding fiscal year to the grantee or a contractor that has elected to have the provisions of this part apply, and (B) the second payment consisting of the remainder to which the grantee or contractor is entitled for the fiscal year to be made by no later than January 1 of the fiscal year. (2) For any school for which no payment was made under this part in the preceding fiscal year, full payment of the amount computed for each fiscal year shall be made by January 1 of the fiscal year. (b) Investment of Funds.— (1) Notwithstanding any other provision of law, any interest or investment income that accrues on any funds provided under this part 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 part 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. (2) Funds provided under this part may be— (A) invested by the Indian tribe or tribal organization only in obligations of the United States or in obligations or 102 STAT. 394securities that are guaranteed or insured by the United States, or (B) deposited only into accounts that are insured by an agency or instrumentality of the United States. (c) Recoveries.—For the purposes of underrecovery and overrecovery determinations by any Federal agency for any other funds, from whatever source derived, funds received under this part shall not be taken into consideration.