S. 1480 (109th): A bill to establish the treatment of actual rental proceeds from leases of land acquired under an ...
...Act providing for loans to Indian tribes and tribal corporations.
109th Congress, 2005–2006. Text as of Jul 26, 2005 (Passed the Senate (Engrossed)).
Status & Summary | PDF | Source: GPO
S 1480 ES
To establish the treatment of actual rental proceeds from leases of land acquired under an Act providing for loans to Indian tribes and tribal corporations.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. CERTIFICATION OF RENTAL PROCEEDS.
Notwithstanding any other provision of law, any actual rental proceeds from the lease of land acquired under the first section of the Act entitled `An Act to provide for loans to Indian tribes and tribal corporations, and for other purposes' (25 U.S.C. 488) certified by the Secretary of the Interior shall be deemed--
(1) to constitute the rental value of that land; and
(2) to satisfy the requirement for appraisal of that land.
Passed the Senate July 26, 2005.
Attest:
Secretary.
To establish the treatment of actual rental proceeds from leases of land acquired under an Act providing for loans to Indian tribes and tribal corporations.