H.R. 5779

To establish the treatment of actual rental proceeds from leases of land acquired under an Act providing for loans to Indian tribes and tribal corporations.

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I

109th CONGRESS

2d Session

H. R. 5779

IN THE HOUSE OF REPRESENTATIVES

July 12, 2006

Mr. Udall of Colorado introduced the following bill; which was referred to the Committee on Resources

A BILL

To establish the treatment of actual rental proceeds from leases of land acquired under an Act providing for loans to Indian tribes and tribal corporations.

1.

Certification of rental proceeds

Notwithstanding any other provision of law, any actual rental proceeds from the lease of land acquired under the first section of the Act entitled An Act to provide for loans to Indian tribes and tribal corporations, and for other purposes (25 U.S.C. 488) certified by the Secretary of the Interior shall be deemed—

(1)

to constitute the rental value of that land; and

(2)

to satisfy the requirement for appraisal of that land.