Pub. L. 95-471, tit. III, sec. 304 (as amended)

compliance with matching requirement

Year: 2008Length: 153 wordsOfficial source
compliance with matching requirement Sec. 304. [25 U.S.C. 1834] For the purpose of complying with the contribution requirement of section 302(b)(2)(B), a tribally controlled college or university may use funds which are available from any private or tribal source. Any real or personal property received by a tribally controlled college or university as a donation or gift on or after the date of the enactment of this sentence may, to the extent of its fair market value as determined by the Secretary, be used by such college or university as its contribution pursuant to section 302(b)(2)(B), or as part of such contribution, as the case may be. In any case in which any such real or personal property so used is thereafter sold or otherwise disposed of by such college or university, the proceeds therefrom shall be deposited pursuant to section 302(b)(2)(B) but shall not again be considered for Federal capital contribution purposes.
Cross-references to the US Code
25 U.S.C. 1834
Pub. L. 95-471, tit. III, sec. 304 (as amended): compliance with matching requirement | Justis AI