Page:United States Statutes at Large Volume 97.djvu/872

 97 STAT. 840 PUBLIC LAW 98-129—OCT. 14, 1983 Memo randum submittal to Congress. Tax exemption. Agreements. Ante. p. 835. Report to Congress. Pribilof Islands Trust. 16 USC 1166. Transfer of funds. Distribution of funds. "(3) assumption of the State of Alaska of traditional State responsibilities for facilities and services on such islands in accordance with applicable laws and regulations; "(4) preservation of wildlife resources within the Secretary's jurisdiction; "(5) continued activities relating to the implementation of the Convention; "(6) oversight of the operation of the Trust established by section 206(a) to further progress toward creation of a stable, diversified, and enduring economy not dependent on commer- cial fur sealing; "(7) the cooperation of government agencies, rendered through existing programs, in assisting with an orderly transi- tion from Federal management and the creation of a private enterprise economy on the Pribilof Islands as described in this Act; and "(8) such other matters as may be necessary and appropriate for carrying out the purposes of the Act, including the assump- tion of responsibilities to ensure an orderly transition from Federal management of the Pribilof Islands. The Memorandum shall be submitted to Congress on or before October 31, 1983. "(e) The grant, sale, transfer or conveyance of any real or personal property pursuant to this section shall not be subject to any form of Federal, State or local taxation. The basis for computing gain or loss on subsequent sale or disposition of such real or personal property for purposes of any Federal, State or local tax imposed on, or measured by revenue shall be the fair market value of such real or personal property at the time of receipt. "(f) In carrying out the purposes of this Act, the Secretary is authorized to enter into agreements, including but not limited to land exchange agreements with other Departments and Agencies of both the State and Federal Governments, and with third parties, notwithstanding any provision of law relating to the transfer and disposal of Federal property to the contrary; except that the author- ity of the Secretary of the Interior regarding exchanges involving lands in the National Wildlife Refuge System on the date of enact- ment of the Fur Seal Act Amendments of 1983 is not affected by this section. "(g) The Secretary shall submit to Congress a report, no later than October 1, 1983, providing information on the status of the negotia- tions for concluding the documents described in subsections (a) and (d) of this section. "SEC. 206. (a)(1) In order to promote the development of a steble, self-sufficient enduring and diversified economy not dependent on sealing, the Secretary shall cause to be established a Trust for the benefit of the Natives of the Pribilof Islands, to be known as the 'Pribilof Islands Trust' (hereinafter referred to as the 'Trust'). "(2) All amounts appropriated to the Secretary under subsection (e) of this section shml be transferred by the Secretai^ to the Trust within fifteen days after submission of the Trust instrument to Congress in accordance with the requirements of subsection (c). "(3) Except as provided in subsection (e)(2), none of the amounts transferred to the Trust pursuant to paragraph (2) shall be distrib- uted by the trustee or trustees for the benefit of the Natives of the Pribilof Islands until 30 days after submission to Congress of the documents described in section 205(a) and (d). Such distributions

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