Page:United States Statutes at Large Volume 96 Part 2.djvu/1151

 PUBLIC LAW 97-458—JAN. 12, 1983

96 STAT. 2513

governing body of the Indian tribe involved.". Such plan or plans shall be limited to urgent needs arising from extenuating circumstances and shall accord with general principles governing administration of trust funds of minors and legal incompetents, including a requirement for strict accounting for expenditures. Ob) Clause (5) of section 3(b) of said Act is hereby striking out "warrant otherwise" and inserting in lieu thereof the following: "warrant otherwise: Provided, That in the development of such plan the Secretary shall survey past and present plans of the tribe for economic development, shall consider long range benefits which might accrue to the tribe from such plans, and shall encourage programing of funds for economic development purposes where appropriate,". SEC. 3. (a) Subsection (a) of section 5 of said Act is amended by deleting "either House adopts a resolution" and inserting in lieu thereof "a joint resolution is enacted". (b) Subsection (b) of section 5 of said Act is amended by deleting "adoption of a resolution" and inserting in lieu thereof "enactment of a joint resolution". (c) Section 5 of said Act is amended by adding the following new subsections at the end thereof: "(c) 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 consent of these entities as provided in section 2(d) of this Act. Any such amended plan shall become valid at the end of a sixty-day period 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 "(d) Once a plan is withdrawn before the end of a sixty-day period, the Secretary has until the expiration of the original one-year deadline to resubmit a plan to Congress. Such a plan shall become valid at the end of a sixty-day period beginning on the day such new plan is submitted to the Congress, unless during such sixty-day period, a joint resolution is enacted disapproving such plan. "(e) Upon the introduction of the first such resolution of disapproval in either the House of Representatives or the Senate, the sixty-day period shall be recomputed from the date of such introduction and shall not again be extended.". SEC. 4. Section 7 of said Act is amended to read as follows: "SEC. 7. None of the funds which— "(1) are distributed per capita or held in trust pursuant to a plan approved under the provisions of this Act, or "(2) on the date of enactment of this Act, are to be distributed per capita or are held in trust pursuant to a plan approved by the Congress prior to the date of enactment of this Act, or "(3) were distributed pursuant to a plan approved by Congress after December 31, 1981 but prior to the date of enactment of this Act, and any purchases made with such funds, including all interest and investment income accrued thereon while such funds are so held in trust, shall be subject to Federal or State income taxes, nor shall such funds nor their availability be considered as income or resources nor otherwise utilized as the basis for denying or reducing the financial assistance or other benefits to which such household or member would otherwise be entitled under

25 USC 1403 note.

25 USC 1403.

25 USC 1405.

Plan, withdrawal or amendment.

25 USC 1407. Tax exemption.

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