26 USC 139G - Assignments to Alaska Native Settlement Trusts

U.S Code last checked for updates: Nov 23, 2024

§ 139G.

Assignments to Alaska Native Settlement Trusts

(a)

In general

In the case of a Native Corporation, gross income shall not include the value of any payments that would otherwise be made, or treated as being made, to such Native Corporation pursuant to, or as required by, any provision of the Alaska Native Claims Settlement Act (43 U.S.C. 1601 et seq.), including any payment that would otherwise be made to a Village Corporation pursuant to section 7(j) of the Alaska Native Claims Settlement Act (43 U.S.C. 1606(j)), provided that any such payments—

(1)

are assigned in writing to a Settlement Trust, and

(2)

were not received by such Native Corporation prior to the assignment described in paragraph (1).

(b)

Inclusion in gross income

(c)

Amount and scope of assignment

(d)

Duration of assignment; revocability

Any assignment under subsection (a) shall specify—

(1)

a duration either in perpetuity or for a period of time, and

(2)

whether such assignment is revocable.

(e)

Prohibition on deduction

(f)

Definitions

(Added Pub. L. 115–97, title I, § 13821(a)(1), Dec. 22, 2017, 131 Stat. 2178.)

cite as: 26 USC 139G