Text: S.1494 — 115th Congress (2017-2018)All Information (Except Text)

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Introduced in Senate (06/29/2017)


115th CONGRESS
1st Session
S. 1494


To amend the Alaska Native Claims Settlement Act in order to increase the dividend exclusion, and for other purposes.


IN THE SENATE OF THE UNITED STATES

June 29, 2017

Ms. Murkowski (for herself and Mr. Sullivan) introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources


A BILL

To amend the Alaska Native Claims Settlement Act in order to increase the dividend exclusion, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “ANCSA Dividend Exclusion Act of 2017”.

SEC. 2. Dividend exclusion increase.

Section 29(c)(A) of the Alaska Native Claims Settlement Act (43 U.S.C. 1626(c)(A)) is amended by striking “exceed $2,000 per individual per annum” and inserting the following:

““exceed—

“(i) for any calendar year preceding 2017, $2,000 per individual per annum; and

“(ii) for calendar year 2017 and all subsequent calendar years, $5,000 per individual per annum, to be adjusted for inflation in fiscal year 2022, and every 5 years thereafter, by increasing the amount provided under this subparagraph for the preceding year by the percentage increase in the Consumer Price Index for All Urban Consumers, as published by the Bureau of Labor Statistics, during the preceding 5-year period;”.


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