Summary: H.R.2983 — 99th Congress (1985-1986)All Information (Except Text)

There is one summary for H.R.2983. Bill summaries are authored by CRS.

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Introduced in House (07/11/1985)

Saginaw Chippewa Indian Tribe of Michigan Distribution of Judgment Funds Act - Authorizes the Saginaw Chippewa Tribe of Michigan, through its Tribal Council, to establish an Investment Fund to be held in trust by the Council for the benefit of the tribe.

Requires the principal from such fund to be used exclusively for investments and for tribal economic development or development of tribal resources.

Requires a certain percentage of the Fund's net income to be retained and included in its principal.

Requires the Fund to be audited once every fiscal year and treats such report as a tribal public document.

Permits the tribe, without approval of the Secretary of the Interior, to adopt any amendments to the constitution of the tribe which were approved by the Tribe Council on a specified date.

Requires the Secretary to transfer to the Tribal Council certain judgment funds awarded to the Saginaw Chippewa Indian Tribe of Michigan in satisfaction of specified claims. Absolves the Secretary of any further trust responsibility for the funds after such transfer.

Exempts payment or distributions from the Fund from State, local, or Federal income tax. Prohibits the consideration of such payments or distributions in determinations to deny or reduce benefits under Federal assistance programs or the Social Security Act.

Permits the tribe, under specified conditions, to waive its sovereign immunity and to consent to the civil jurisdiction of Michigan courts with regard to the use of the Fund as security for indebtedness.

Requires the Secretary to transfer to the Tribal Council all or any portion of undistributed funds appropriated in satisfaction of a specified judgment awarded to the tribe. Sets forth specified requirements with respect to such funds.