Saginaw Chippewa Indian Tribe of Michigan Distribution of Judgment Funds Act
Official title: A bill to provide for the use and distribution of funds appropriated in satisfaction of judgments awarded to the Saginaw Chippewa Tribe of Michigan in Dockets … Show full official titleShow less
Official title: A bill to provide for the use and distribution of funds appropriated in satisfaction of judgments awarded to the Saginaw Chippewa Tribe of Michigan in Dockets Numbered 59 and 13E before the Indian Claims Commission and Docket Numbered 13F before the United States Claims Court, and for other purposes.
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Saginaw Chippewa Indian Tribe of Michigan Distribution of Judgment Funds Act - Authorizes the Saginaw Chippewa Tribe of Michigan, through its Tribal Council, to establish a Principal Investment Fund to be held in trust by the Council for the benefit of the tribe.
Requires the income from such fund to be used exclusively 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.
Requires the Secretary to transfer to the tribe for deposit in the Principal Investment Fund certain judgment funds awarded the Saginaw Chippewa Indian Tribe of Michigan in satisfaction of specified claims. Absolves the Secretary under 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.
Cite this page
U.S. Congress. (2026). H.R. 5960: Saginaw Chippewa Indian Tribe of Michigan Distribution of Judgment Funds Act. 98th Congress. Open America. https://openamerica.io/bill/98-HR-5960/
"H.R. 5960: Saginaw Chippewa Indian Tribe of Michigan Distribution of Judgment Funds Act." 98th Congress, 2026, Open America, https://openamerica.io/bill/98-HR-5960/.
H.R. 5960, 98th Cong. (2026), https://openamerica.io/bill/98-HR-5960/.
[H.R. 5960: Saginaw Chippewa Indian Tribe of Michigan Distribution of Judgment Funds Act](https://openamerica.io/bill/98-HR-5960/)