25 U.S. Code § 500g - Distribution of reindeer, property, and profits to natives
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The Secretary of the Interior is authorized to distribute the reindeer and other property acquired by the United States under this subchapter among the Eskimos or other natives of Alaska, or to corporations, associations, or organizations of said natives, either in the form of gifts or under such conditions as the Secretary of the Interior may prescribe, and to execute and deliver appropriate instruments of title, or to hold and use the same in trust for the use and benefit of said natives, with a view of effecting the widest possible distribution of such reindeer and other property among those natives of Alaska who are in need thereof and who can make proper use of the same: Provided, That during the period of the trust, income derived directly from the sale of reindeer and reindeer products as provided in this subchapter shall be exempt from Federal income taxation. The Secretary of the Interior may from time to time, in such manner as he determines to be proper for effectuating the purposes of this subchapter, distribute among those of said natives or corporations, associations, or other organizations of said natives, who are engaged in said industry or business or for whose subsistence reindeer are necessary, whatever profits may be earned by that part of the industry or business which is owned by the United States and which may, in the judgment of the Secretary of the Interior, be distributed in accordance with sound business practice.
Source(Sept. 1, 1937, ch. 897, § 8,50 Stat. 901; Pub. L. 99–514, title XVII, § 1709(a),Oct. 22, 1986, 100 Stat. 2783.)
1986—Pub. L. 99–514inserted proviso directing that during the period of the trust, income derived directly from the sale of reindeer and reindeer products as provided in this subchapter shall be exempt from Federal income taxation.
Effective Date of 1986 Amendment