[Congressional Record Volume 147, Number 71 (Tuesday, May 22, 2001)]
[Extensions of Remarks]
[Page E888]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




THE INTRODUCTION OF H.R. 1692, TO SIMPLIFY AND MAKE MORE EQUITABLE THE 
 TAX TREATMENT OF SETTLEMENT TRUSTS ESTABLISHED PURSUANT TO THE ALASKA 
                      NATIVE CLAIMS SETTLEMENT ACT

                                 ______
                                 

                             HON. DON YOUNG

                               of alaska

                    in the house of representatives

                         Tuesday, May 22, 2001

  Mr. YOUNG of Alaska. Mr. Speaker, on May 3, 2001, eighteen of our 
colleagues from both sides of the aisle and I introduced H.R. 1692, a 
bill to simplify and make more equitable the tax treatment of 
Settlement Trusts established pursuant to the Alaska Native Claims 
Settlement Act.
  I am very pleased today to add the names of two of our distinguished 
colleagues, Representative Wes Watkins, a cosponsor from last Congress 
and Member of the Ways and Means Committee to which the bill was 
referred, and Representative Mark Souder.
  Also, in my statement upon introduction of the bill, there were two 
items that need correcting. First, Representative Frost, Representative 
Bono, and Representative Stupak should have been referred to as 
``Representative'' as were the other cosponsors. And, in the last 
paragraph of the statement, the word ``vetted'' was inadvertently 
transcribed in the Record to read ``vetoed.'' With that edit, that 
paragraph should have read:

       A version of this bill was included by the Ways and Means 
     Committee in legislation last Congress that was vetoed and a 
     version of it passed the Senate as well. This current version 
     of the bill we are introducing today has been vetted over the 
     past several years with the tax writing committees of 
     Congress in the House and Senate, the Joint Committee on 
     Taxation and the Department of Treasury. It addresses the key 
     deficiencies in the current law. I urge that it be included 
     in tax-related legislation considered by the House in this 
     session of the 107th Congress and that our colleagues join 
     the co-sponsors of the bill in supporting this meritorious 
     legislation.

     

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