43 USC 1605 - Alaska Native Fund

U.S Code last checked for updates: Nov 22, 2024

§ 1605.

Alaska Native Fund

(a)

Establishment in Treasury; deposits into Fund of general fund, interest, and revenue sharing moneys

There is hereby established in the United States Treasury an Alaska Native Fund into which the following moneys shall be deposited:

(1)

$462,500,000 from the general fund of the Treasury, which are authorized to be appropriated according to the following schedule:

(A)

$12,500,000 during the fiscal year in which this chapter becomes effective;

(B)

$50,000,000 during the second fiscal year;

(C)

$70,000,000 during each of the third, fourth, and fifth fiscal years;

(D)

$40,000,000 during the period beginning July 1, 1976, and ending September 30, 1976; and

(E)

$30,000,000 during each of the next five fiscal years, for transfer to the Alaska Native Fund in the fourth quarter of each fiscal year.

(2)

Four percent interest per annum, which is authorized to be appropriated, on any amount authorized to be appropriated by this paragraph that is not appropriated within six months after the fiscal year in which payable.

(3)

$500,000,000 pursuant to the revenue sharing provisions of section 1608 of this title.

(b)

Prohibition of expenditures for propaganda or political campaigns; misdemeanor; penalty

(c)

Distribution of Fund moneys among organized Regional Corporations; basis as relative number of Native enrollees in each region; reserve for payment of attorney and other fees; retention of share in Fund until organization of corporation

(Pub. L. 92–203, § 6, Dec. 18, 1971, 85 Stat. 690; Pub. L. 94–273, § 38, Apr. 21, 1976, 90 Stat. 380.)

cite as: 43 USC 1605