Indian Finance Corporation Act

[AI summary unavailable — showing source text] Indian Finance Corporation Act - Title I: Establishment of Corporation - Establishes the Indian Finance Corporation. Requires the Corporation to: (1) provide technical and managerial assistance for new and existing Indian businesses; and (2) make loans to Indian businesses at the lowest reasonable cost, taking into account the Corporation's cost of money, necessary reserve, and expenses to purchase, insure, or discount obligations of such businesses if they meet specified financial conditions. Authorizes the Corporation to guarantee up to 90 percent of the principal and interest of any loan made to an Indian business by a State or federally chartered lending institution on terms permissible for Corporation loans. Sets forth administrative provisions concerning the Corporation. Title II: Financing - Authorizes the Corporation to issue a limited amount of bonds and notes. Title III: Audit; Transfer of Certain Functions - Directs the Comptroller General to audit and review outstanding loans and loans guaranteed or insured by the Secretary of the Interior in administering the Indian Financing Act of 1974 (the Act). Prohibits new loans from being made and guaranteed or insured by the Se…