Native American Housing Assistance and Self-Determination Act Amendments of 1997

Native American Housing Assistance and Self-Determination Act Amendments of 1997 - Makes amendments to the Native American Housing Assistance and Self-Determination Act of 1996 (NAHASDA), including: (1) setting forth a requirement for assistance to Indian families that are not low-income; (2) eliminating separate Indian housing plan requirements for small Indian tribes; (3) expanding the authority of the Secretary of Housing and Urban Development to review Indian housing plans; (4) revising provisions regarding review and audit by the Secretary; (5) prescribing an allocation formula with respect to certain Indian tribes; (6) excepting from the hearing requirement certain actions by the Secretary affecting grant amounts if the Secretary makes a determination that the failure of a recipient of assistance to comply substantially with any material provision of the Act is resulting, and would continue to result, in a continuing unauthorized expenditure of Federal funds; and (7) revising requirements regarding noncompliance by recipients because of technical incapacity to permit the provision of technical assistance if the recipient enters into a performance agreement with the Secretary (limits the period of such an agreement to one year).

(Sec. 10) Amends the Internal Revenue Code to treat block grants and guarantees provided under the HOME Investment Partnerships Act or NAHASDA not as Federal subsidies, under specified circumstances, for the purposes of determining eligibility for the low-income housing credit.

(Sec. 11) Amends NAHASDA to repeal the requirement regarding the certification of compliance with subsidy layering requirements with respect to housing assisted with grant amounts provided under the Act.