[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 1494 Introduced in Senate (IS)]

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115th CONGRESS
  1st Session
                                S. 1494

 To amend the Alaska Native Claims Settlement Act in order to increase 
            the dividend exclusion, and for other purposes.


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                   IN THE SENATE OF THE UNITED STATES

                             June 29, 2017

 Ms. Murkowski (for herself and Mr. Sullivan) introduced the following 
bill; which was read twice and referred to the Committee on Energy and 
                           Natural Resources

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                                 A BILL


 
 To amend the Alaska Native Claims Settlement Act in order to increase 
            the dividend exclusion, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``ANCSA Dividend Exclusion Act of 
2017''.

SEC. 2. DIVIDEND EXCLUSION INCREASE.

    Section 29(c)(A) of the Alaska Native Claims Settlement Act (43 
U.S.C. 1626(c)(A)) is amended by striking ``exceed $2,000 per 
individual per annum'' and inserting the following: ``exceed--
                    ``(i) for any calendar year preceding 2017, $2,000 
                per individual per annum; and
                    ``(ii) for calendar year 2017 and all subsequent 
                calendar years, $5,000 per individual per annum, to be 
                adjusted for inflation in fiscal year 2022, and every 5 
                years thereafter, by increasing the amount provided 
                under this subparagraph for the preceding year by the 
                percentage increase in the Consumer Price Index for All 
                Urban Consumers, as published by the Bureau of Labor 
                Statistics, during the preceding 5-year period;''.
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