|Other titles||Payment of interest on certain Indian trust funds|
|Contributions||United States. Congress. House. Committee on Indian Affairs|
|The Physical Object|
Effective November 2, , settlement funds held in trust, including interest and investment income accruing on such funds, and payments made to members of the Confederated Tribes of the Colville Reservation under the Confederated Tribes of the Colville Reservation Grand Coulee Dam Settlement Act are excluded from income and resources. counts, with a dramatic loss of interest income to the Indian tribes. The amount of money involved is not insignificant: the sum held in trust has grown from 35 million dollars in to million dollarsAuthor: Nell Jessup Newton. c, provides authority to Indian tribes to make per capita payments to Indians out of tribal trust revenue. Under 25 U.S.C. § a, funds held in trust by the Secretary of the Interior for an Indian tribe that are to be distributed per capita to members of that tribe. U.S. to pay $ million to 17 tribes in trust settlement. Septem Categories: Trust Fund Matters. When President Obama took office, he pledged to honor the United States’ treaty responsibilities to Indian tribes.
In addition to Individual Indian Monies, the Office of Trust Funds Management administers Tribal Trust Accounts. The Special Trustee for American Indians oversees annual payments of $ million for , Native Americans, but the whereabouts of 47, Native Americans eligible for payment . The federal regulations that govern the administration of tribal trust funds are found in 25 CFR Part § and § to , public laws, statutes, legislation, use and distribution plans or other tribal governing instruments. Trust funds are generally held for federally recognized tribes. tribes and individuals (e.g., per capita payments). If funds are held in an account for more than one day, they are invested and earn interest. Th ere are two primary kinds of Indian trust accounts: tribal and Individual Indian Money (IIM) accounts. Your new account is an IIM account. IIM accounts are established for individual trust benefi File Size: KB. The court concluded that the 4% statutory rate of interest on tribal trust funds represented "a floor rather than a ceiling" and that the BIA had the duty to maximize the return on investment of tribal trust funds.
Per capita distributions made to Native American tribe members from funds held in trust by the U.S. secretary of the interior are exempt from federal income taxes, according to interim guidance Author: Ama Sarfo. More than tribes have some assets held in trust by the federal government. Under those trust agreements, the U.S. government must make sure tribes receive "just compensation" for . The Department of Interior (“DOI”) is responsible for holding these trust funds on behalf of federall y-r ecognized tribes and certain individ ual Indians w ho have an interest in trust lands, trust resources, or trust assets. The Office of Special Trustee within the DOI is tasked with the responsibility of managing these funds. Trust acquisitions also allow tribes to grant certain rights-of-way and enter into leases necessary for tribes to negotiate the use and sale of the natural resources. Additionally, trust lands provide the greatest protections for many communities who rely on subsistence hunting and agriculture that are important elements of tribal cultures and.