[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 1480 Considered and Passed Senate (CPS)]








109th CONGRESS
  1st Session
                                S. 1480

  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.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 26, 2005

 Mr. McCain (for himself, Mr. Dorgan, and Mr. Johnson) introduced the 
following bill; which was read twice, considered, read the third time, 
                               and passed

_______________________________________________________________________

                                 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.

    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.
                                 <all>