25 U.S.C. § 1407 — Tax exemption; resources exemption limi-

Page 227 TITLE 25—INDIANS § 1407 1 So in original. The word ‘‘or’’ probably should not appear. 2 So in original. Probably should be ‘‘ceded’’. which statement shall specify the alter- natives, if any, proposed by such Indian tribe or individuals in lieu of such plan, together with an indication of the degree of support among the interested parties for each such al- ternative. (Pub. L. 93–134, § 4, Oct. 19, 1973, 87 Stat. 467.) § 1405. Effective date of plan; joint resolution of disapproval (a) Original plan The plan prepared by the Secretary shall be- come effective, and he shall take immediate ac- tion to implement the plan for the use or dis- tribution of such judgment funds, at the end of the sixty-day period (excluding days on which either the House of Representatives or the Sen- ate is not in session because of an adjournment of more than three calendar days to a day cer- tain) beginning on the day such plan is sub- mitted to the Congress, unless during such sixty-day period a joint resolution is enacted disapproving such plans. (b) Proposed legislation and report to Congress following Congressional disapproval Within thirty calendar days after the date of enactment of a joint resolution disapproving a plan, the Secretary shall submit to the Congress proposed legislation, together with a report thereon, authorizing use or distribution of such funds. (c) Successor plan previously withdrawn or amended prior to Congressional action; con- sent to amendments Within the sixty-day period and before the adoption of any resolution disapproving a plan, the Secretary may withdraw or amend such plan: Provided, That any amendments affecting the division of an award between two or more beneficiary entities shall be subject to the con- sent of these entities as provided in section 1402(d) of this title. Any such amended plan shall become valid at the end of a sixty-day pe- riod beginning on the day such amendment is submitted to the Congress, unless during such sixty-day period, a joint resolution is enacted disapproving such plan as amended. (d) Resubmission of successor plan within pre- scribed period following withdrawal of plan Once a plan is withdrawn before the end of a sixty-day period, the Secretary has until the ex- piration of the original one-year deadline to re- submit a plan to Congress. Such a plan shall be- come valid at the end of a sixty-day period be- ginning on the day such new plan is submitted to the Congress, unless during such sixty-day pe- riod, a joint resolution is enacted disapproving such plan. (e) Recomputation of sixty-day period from date of introduction of joint resolution of dis- approval; reextension restriction Upon the introduction of the first such resolu- tion of disapproval in either the House of Rep- resentatives or the Senate, the sixty-day period shall be recomputed from the date of such intro- duction and shall not again be extended. (Pub. L. 93–134, § 5, Oct. 19, 1973, 87 Stat. 468; Pub. L. 97–458, § 3, Jan. 12, 1983, 96 Stat. 2513.) Editorial Notes AMENDMENTS 1983—Subsec. (a). Pub. L. 97–458, § 3(a), substituted ‘‘unless during such sixty-day period a joint resolution is enacted’’ for ‘‘unless during such sixty-day period ei- ther House adopts a resolution disapproving such plans’’. Subsec. (b). Pub. L. 97–458, § 3(b), substituted ‘‘date of enactment of a joint resolution disapproving a plan’’ for ‘‘date of adoption of a resolution disapproving a plan’’. Subsecs. (c) to (e). Pub. L. 97–458, § 3(c), added subsecs. (c) to (e). § 1406. Rules and regulations (a) Promulgation The Secretary shall promulgate rules and reg- ulations to implement this chapter no later than the end of the one hundred and eighty-day period beginning on October 19, 1973. Among other things, such rules and regulations shall provide for adequate notice to all entities and persons who may receive funds under any Indian judgment of all relevant procedures pursuant to this chapter concerning any such judgment. (b) Publication in Federal Register No later than sixty days prior to the promul- gation of such rules and regulations the Sec- retary shall publish the proposed rules and regu- lations in the Federal Register. (c) Hearings No later than thirty days prior to the promul- gation of such rules and regulations, the Sec- retary shall provide, with adequate public no- tice, the opportunity for hearings on the pro- posed rules and regulations, once published, to all interested parties. (Pub. L. 93–134, § 6, Oct. 19, 1973, 87 Stat. 468.) § 1407. Tax exemption; resources exemption limi- tation None of the funds which— (1) are distributed per capita or held in trust pursuant to a plan approved under the provi- sions of this chapter, or 1 (2) on January 12, 1983, are to be distributed per capita or are held in trust pursuant to a plan approved by the Congress prior to Janu- ary 12, 1983, (3) were distributed pursuant to a plan ap- proved by Congress after December 31, 1981 but prior to January 12, 1983, and any purchases made with such funds, or (4) are paid by the State of Minnesota to the Bois Forte Band of Chippewa Indians or the Grand Portage Band of Lake Superior Chip- pewa Indians, or both, pursuant to the agree- ments of each Band to voluntarily restrict tribal rights to hunt and fish in territory cede 2 under the Treaty of September 30, 1854 (10 Stat. 1109), including all interest accrued on such funds during any period in which such funds are held in a minor’s trust, including all interest and investment income ac- crued thereon while such funds are so held in Page 228 TITLE 25—INDIANS § 1408 trust, shall be subject to Federal or State in- come taxes, nor shall such funds nor their avail- ability be considered as income or resources nor otherwise utilized as the basis for denying or re- ducing the financial assistance or other benefits to which such household or member would oth- erwise be entitled under the Social Security Act [42 U.S.C. 301 et seq.] or, except for per capita shares in excess of $2,000, any Federal or feder- ally assisted program. (Pub. L. 93–134, § 7, Oct. 19, 1973, 87 Stat. 468; Pub. L. 97–458, § 4, Jan. 12, 1983, 96 Stat. 2513; Pub. L. 106–568, title VIII, § 818, Dec. 27, 2000, 114 Stat. 2918; Pub. L. 113–290, § 2, Dec. 19, 2014, 128 Stat. 3291.) Editorial Notes REFERENCES IN TEXT The Social Security Act, referred to in text, is act Aug. 14, 1935, ch. 531, 49 Stat. 620, which is classified generally to chapter 7 (§ 301 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see section 1305 of Title 42 and Tables. AMENDMENTS 2014—Par. (4). Pub. L. 113–290 substituted ‘‘or the Grand Portage Band of Lake Superior Chippewa Indi- ans, or both, pursuant to the agreements of each Band’’ for ‘‘pursuant to the agreements of such Band’’. 2000—Par. (4). Pub. L. 106–568 added par. (4). 1983—Pub. L. 97–458 amended section generally. Prior to amendment, section read as follows: ‘‘None of the funds distributed per capita or held in trust under the provisions of this chapter shall be subject to Federal or State income taxes, and the per capita payments shall not be considered as income or resources when deter- mining the extent of eligibility for assistance under the Social Security Act’’. § 1408. Resources exemption Interests of individual Indians in trust or re- stricted lands shall not be considered a resource, and up to $2,000 per year of income received by individual Indians that is derived from such in- terests shall not be considered income, in deter- mining eligibility for assistance under the So- cial Security Act [42 U.S.C. 301 et seq.] or any other Federal or federally assisted program. (Pub. L. 93–134, § 8, as added Pub. L. 97–458, § 4, Jan. 12, 1983, 96 Stat. 2514; amended Pub. L. 103–66, title XIII, § 13736(a), Aug. 10, 1993, 107 Stat. 663.) Editorial Notes REFERENCES IN TEXT The Social Security Act, referred to in text, is act Aug. 14, 1935, ch. 531, 49 Stat. 620, which is classified generally to chapter 7 (§ 301 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see section 1305 of Title 42 and Tables. AMENDMENTS 1993—Pub. L. 103–66 inserted ‘‘, and up to $2,000 per year of income received by individual Indians that is derived from such interests shall not be considered in- come,’’ after ‘‘resource’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1993 AMENDMENT Pub. L. 103–66, title XIII, § 13736(b), Aug. 10, 1993, 107 Stat. 663, provided that: ‘‘The amendment made by this section [amending this section] shall take effect on January 1, 1994.’’ CHAPTER 17—FINANCING ECONOMIC DE- VELOPMENT OF INDIANS AND INDIAN OR- GANIZATIONS GENERAL PROVISIONS Sec. 1451. Congressional declaration of policy. 1452. Definitions. 1453. Assistance or activities of other Federal agencies unaffected. SUBCHAPTER I—INDIAN REVOLVING LOAN FUND 1461. Administration as single Indian Revolving Loan Fund sums from diverse sources; availability of fund for loans to Indians and for administrative expenses. 1462. Economic development; educational loans; limitation of loans to or investments in non-Indian organizations. 1463. Repayment of loan; financing from other sources. 1464. Maturity of loans; interest rate; interest de- ferral on educational loans. 1465. Modification of amount of loan and document securing loan in collection of loan or in best interests of the United States. 1466. Land and personal property title. 1467. Security for loan; assignment of securities; reasonable assurance of repayment. 1468. Authorization of appropriations. 1469. Rules and regulations. SUBCHAPTER II—LOAN GUARANTY AND INSURANCE 1481. Loan guaranties and insurance. 1482. Premium charges; deposits in Indian Loan Guaranty and Insurance Fund. 1483. Interest rate. 1484. Application for loan; approval by Secretary; issuance of certificate; limitations on amount of loans to individual Indians or economic enterprises; review by Secretary. 1485. Sale or assignment of loans and underlying security. 1486. Loans ineligible for guaranty or insurance. 1487. Loans eligible for insurance. 1488. Lenders authorized to make loans; decrease or increase of liability under the guaranty. 1489. Loans made by certain financial institutions without regard to limitations and restric- tions of other Federal statutes with respect to certain particulars. 1490. Maturity of loans. 1491. Defaults; written notification; pro rata pay- ments; subrogation and assignment rights of Secretary; cancellation of uncollectable portion of obligations; forbearance for ben- efit of borrower; interest or charges ces- sation date. 1492. Claims for losses; submission to Secretary; reimbursement: single and aggregate loss limitations, conditions; assignment of note or judgment; collection or cancellation by Secretary; interest or charges cessation date. 1493. Loan refusal; conditions; prohibition against acquisition of additional loans; payment of claims on loans made in good faith. 1494. Evidence of eligibility of loan for and amount of guaranty or insurance; defenses and par- tial defenses against original lender. 1495. Land and personal property titles. 1496. Powers of Secretary; finality of financial transactions and property acquisitions, management, and dispositions. 1497. Indian Loan Guaranty and Insurance Fund.