Madam Speaker, I move to suspend the rules and pass the bill (S. 108) to authorize the Seminole Tribe of Florida to lease or transfer certain land, and for other purposes. Madam Speaker, I ask…
Madam Speaker, I move to suspend the rules and pass the bill (S. 108) to authorize the Seminole Tribe of Florida to lease or transfer certain land, and for other purposes.
Madam Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and include extraneous material on the measure under consideration.
Madam Speaker, I yield myself such time as I may consume.
Madam Speaker, S. 108, introduced by Senator Rubio of Florida, will allow the Seminole Tribe of Florida to lease, sell, convey, warrant, or transfer its real property that is not held in trust by the United States.
The Seminole Tribe of Florida is a federally recognized Tribe with its Tribal headquarters located in Hollywood, Florida. It is one of three federally recognized Seminole entities, and many of its enrolled members reside on its six reservations in Florida.
In recent decades, a large portion of the Tribe's economic development strategy has been its investment in commercial real estate properties. So far the Tribe owns one of the largest cattle operations in the U.S., along with the Hard Rock Hotel and Casino franchise and its 74 international properties.
To manage the Tribe's growing portfolio, the Tribal Council established a commercial real estate investment fund to help create generational stability for the Seminole Tribe. Ultimately, the Tribe's hope is to establish a State-chartered subsidiary entity to act as a holding company for certain properties owned by the Tribe.
Unfortunately, the Tribe has been unable to move forward with this project due to concerns raised by lenders and proposed title insurance companies about the Indian Nonintercourse Act.
The act prohibits any ``purchase, grant, lease, or other conveyance of lands, or of any title or claim thereto, from an Indian nation or Tribe of Indians'' unless authorized by Congress.
At least two title insurance companies approached by the Tribe have interpreted the act to apply to real estate owned by a State-chartered subsidiary entity of the Tribe. As such, the title companies will not insure the mortgage without an exemption from the act, which in turn effectively kills any ability to finance an acquisition.
S. 108 will, therefore, provide relief from the Indian Nonintercourse Act by clarifying that the Seminole Tribe of Florida has the authority to lease, sell, convey, warrant, or otherwise transfer their interests in property not held in trust by the Federal Government without further approval from the Federal Government.
This bipartisan effort is led in the House by the gentleman from Florida (Mr. Soto), who is the sponsor of the House companion bill. I congratulate him on his strong advocacy to get this legislation to the President's desk.
S. 108 will allow the Seminole Tribe the ability to continue its economic development, and I urge my colleagues to vote in favor of this bill.
Madam Speaker, I reserve the balance of my time.
Madam Speaker, I am grateful for this bipartisan legislation. I also think it gives us a path forward on what we might need to do for all Tribes who encounter this issue, but for now I am very much in support of S. 108 and urge my colleagues to support the legislation.
I yield back the balance of my time.