[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 1480 Referred in House (RFH)]
109th CONGRESS
1st Session
S. 1480
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IN THE HOUSE OF REPRESENTATIVES
July 27, 2005
Referred to the Committee on Resources
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AN ACT
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.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 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.
Passed the Senate July 26, 2005.
Attest:
EMILY J. REYNOLDS,
Secretary.