AMERICAN INDIAN AND ALASKA NATIVE CULTURE AND ARTS DEVELOPMENT.

SEC. 386. AMERICAN INDIAN AND ALASKA NATIVE CULTURE AND ARTS DEVELOPMENT. (a) Staff of the Institute.— Subsection (f) of section 1509 of the Higher Education Amendments of 1986 (20 U.S.C. 4416(f)) is amended to read as follows: “(f) Applicability.— “(1) This section shall apply to any individual appointed after October 17, 1986, for employment in the Institute. Except as provided in subsections (d) and (g), the enactment of this title shall not affect— “(A) the continued employment of any individual employed before October 17, 1986; or “(B) such individual’s right to receive the compensation attached to such position. “(2) This section shall not apply to an individual whose services are procured by the Institute pursuant to a written procurement contract. “(3) This section shall not apply to employees of an entity performing services pursuant to a written contract with the Institute.”. (b) Endowment Program.— Section 1518 of the Higher Education Amendments of 1986 (20 U.S.C. 4425) is amended— 108 STAT. 4021 (1) in subsection (b), by adding at the end the following new paragraph: “(6) For the purpose of complying with the contribution requirement in this subsection, the Institute may use funds or in-kind contributions of real or personal property. For the purposes of this paragraph, all contributions, in-kind and real estate, which are held by the Institute beginning on November 29, 1990, and which were received after June 2, 1988, but which have not been included in their entirety in computations under this section shall be eligible for matching Federal funds appropriated in any year.”; and (2) in subsection (c), by amending paragraph (1) to read as follows: “(1) Funds in the trust funds described in subsections (a) and (b) shall be invested under the same conditions and limitations as funds are invested under section 331(c)(2) of the Higher Education Act of 1965 and the regulations implementing such section (as such regulations were in effect at the time the funds are invested).”.