43 U.S.C. § 1620
Revenues originating from the Alaska Native Fund shall not be subject to any form of Federal, State, or local taxation at the time of receipt by a Regional Corporation, Village Corporation, or individual Native through dividend distributions (even if the Regional Corporation or Village Corporation distributing the dividend has not segregated revenue received from the Alaska Native Fund from revenue received from other sources) or in any other manner. This exemption shall not apply to income from the investment of such revenues.
The receipt of shares of stock in the Regional or Village Corporations by or on behalf of any Native shall not be subject to any form of Federal, State or local taxation.
The receipt of land or any interest therein pursuant to this chapter or of cash in order to equalize the values of properties exchanged pursuant to section 1621(f) of this title shall not be subject to any form of Federal, State, or local taxation. The basis for determining gain or loss from the sale or other disposition of such land or interest in land for purposes of any Federal, State, or local tax imposed on or measured by income shall be the fair value of such land or interest in land at the time of receipt, adjusted as provided in section 1016 of title 26, as amended: Provided, however, That the basis of any such land or interest therein attributable to an interest in a mine, well, other natural deposit, or block of timber shall be not less than the fair value of such mine, well, natural deposit, or block of timber (or such interest therein as the Secretary shall convey) at the time of the first commercial development thereof, adjusted as provided in section 1016 of title 26. For purposes of this subsection, the time of receipt of land or any interest therein shall be the time of the conveyance by the Secretary of such land or interest (whether by interim conveyance or patent).
Real property interests conveyed pursuant to this chapter to a Native individual, Native group, corporation organized under section 1613(h)(3) of this title, or Village or Regional Corporation shall, so long as the fee therein remains not subject to State or local taxes on real estate, continue to be regarded as public lands for the purpose of computing the Federal share of any highway project pursuant to title 23, as amended and supplemented, for the purpose of the Johnson-O'Malley Act of April 16, 1934, as amended ( 25 U.S.C. 452 ),1 and for the purpose of Public Laws 815 and 874, 81st Congress (64 Stat. 967, 1100). So long as there are no substantial revenues from such lands they shall continue to receive wildland fire protection services from the United States at no cost.
Until January 1, 1992, stock of any Regional Corporation organized pursuant to section 1606 of this title, including the right to receive distributions under subsection 1606(j) of this title, and stock of any Village Corporation organized pursuant to section 1607 of this title shall not be includable in the gross estate of a decedent under sections 2031 and 2033, or any successor provisions, of title 26.
In the case of any Native Corporation established pursuant to this chapter, income for purposes of any form of Federal, State, or local taxation shall not be deemed to include the value of-
This subsection shall be effective as of December 18, 1971, and, with respect to each Native Corporation, shall remain in full force and effect for a period of twenty years thereafter or until the Corporation has received conveyance of its full land entitlement, whichever first occurs. Except as set forth in this subsection and in subsection (d) hereof, all rents, royalties, profits, and other revenues or proceeds derived from real property interests selected and conveyed pursuant to sections 1611 and 1613 of this title shall be taxable to the same extent as such revenues or proceeds are taxable when received by a non-Native individual or corporation.
No Corporation created pursuant to this chapter shall be considered to be a personal holding company within the meaning of section 542(a) of title 26 prior to January 1, 1992.
A real property interest distributed by a Native Corporation to a shareholder of such Corporation pursuant to a program to provide homesites to its shareholders, shall be deemed conveyed and received pursuant to this chapter: Provided, That alienability of the Settlement Common Stock of the Corporation has not been terminated pursuant to section 1629c of this title: Provided further, That the land received is restricted by covenant for a period not less than ten years to single-family (including traditional extended family customs) residential occupancy, and by such other covenants and retained interests as the Native Corporation deems appropriate: Provided further, That the land conveyed does not exceed one and one-half acres: Provided further, That if the shareholder receiving the homesite subdivides such homesite, he or she shall pay all Federal, State, and local taxes that would have been incurred but for this subsection together with simple interest at 6 per centum per annum calculated from the date of receipt of the homesite, including taxes or assessments for the provision of road access and water and sewage facilities by the conveying corporation or the shareholder.
1 See References in Text note below.
43 U.S.C. § 1620
EDITORIAL NOTES
REFERENCES IN TEXTThe Alaska National Interest Lands Conservation Act, referred to in subsec. (d)(1), is Pub. L. 96-487, Dec. 2, 1980, 94 Stat. 2371. For complete classification of this Act to the Code, see Short Title note set out under section 3101 of Title 16, Conservation, and Tables.The Johnson-O'Malley Act of April 16, 1934, as amended ( 25 U.S.C. 452 ), referred to in subsec. (e), is act Apr. 16, 1934, ch. 147, 48 Stat. 596, which was classified to section 452 et seq. of Title 25, Indians, prior to editorial reclassification as section 5342 et seq. of Title 25. For complete classification of this Act to the Code, see Short Title note set out under section 5301 of Title 25 and Tables. Public Law 815 81st Congress (64 Stat. 967), referred to in subsec. (e), is act Sept. 23, 1950, ch. 995, as amended generally by Pub. L. 85-620, title I, §101, Aug. 12, 1958, 72 Stat. 548, which was classified generally to chapter 19 (§631 et seq.) of Title 20, Education, prior to repeal by Pub. L. 103-382, title III, §331(a), Oct. 20, 1994, 108 Stat. 3965. For complete classification of this Act to the Code, see Tables. Public Law 874 81st Congress (64 Stat. 1100), referred to in subsec. (e), is act Sept. 30, 1950, ch. 1124, 64 Stat. 1100, popularly known as the Educational Agencies Financial Aid Act, which was classified generally to chapter 13 (§236 et seq.) of Title 20, prior to repeal by Pub. L. 103-382, title III, §331(b), Oct. 20, 1994, 108 Stat. 3965. For complete classification of this Act to the Code, see Tables.
AMENDMENTS1992-Subsec. (j). Pub. L. 102-415 struck out "prior to December 18, 1991," after "A real property interest distributed" and substituted "Provided, That alienability of the Settlement Common Stock of the Corporation has not been terminated pursuant to section 1629c of this title: Provided further, That" for "Provided, That".1988-Subsec. (a). Pub. L. 100-241, §12(b)(1), inserted "(even if the Regional Corporation or Village Corporation distributing the dividend has not segregated revenue received from the Alaska Native Fund from revenue received from other sources)" after "distributions".Subsec. (j). Pub. L. 100-241, §12(b)(2), (3), substituted "Native Corporation" for "Village Corporation" in two places and "That if the shareholder receiving the homesite subdivides such homesite, he or she shall pay all Federal, State, and local taxes that would have been incurred but for this subsection together with simple interest at 6 per centum per annum calculated from the date of receipt of the homesite, including taxes or assessments for the provision of road access and water and sewage facilities by the conveying corporation or the shareholder." for "That the shareholder receiving the homesite, if the shareholder subdivides the land received, shall pay all Federal, State, and local taxes which would have been incurred but for this subsection, together with simple interest at six percent per annum calculated from the date of receipt of the land to be paid to the appropriate taxing authority."1986-Subsecs. (c), (i). Pub. L. 99-514 substituted "Internal Revenue Code of 1986" for "Internal Revenue Code of 1954", which for purposes of codification was translated as "title 26" thus requiring no change in text. 1980-Subsec. (c). Pub. L. 96-487, §1408, inserted provision requiring that fair value of such land or interest in land at time of receipt be adjusted as provided in section 1016 of title 26 and proviso defining the basis of any such land attributable to an interest in a mine, well, other natural deposit, or block of timber.Subsec. (d). Pub. L. 96-487, §904, designated existing provision as par. (1), substituted "Regional Corporation or corporation established pursuant to section 1613(h)(3) of this title" for "Regional Corporation", "third parties or which are used solely for the purposes of exploration shall" for "third parties shall", "from the vesting of title pursuant to the Alaska National Interest Lands Conservation Act or the date of issuance of an interim conveyance or patent, whichever is earlier, for those interests to such individual, group, or corporation" for "after December 18, 1971", and "any portion of such interest" for "leased or developed real property" and inserted "which is leased or developed for purposes other than exploration for so long as such portion is leased or being developed" after "laws of the State", and added par. (2).Subsec. (e). Pub. L. 96-487, §1409, substituted "Native Group, corporation organized under section 1613(h)(3) of this title, or Village" for "Native Group, or Village", "(64 Stat. 967, 1100). So long as there are no substantial" for "(64 Stat. 967, 1100), and so long as there are also no substantial", and "such lands they shall continue to receive wildland fire" for "such lands, continue to receive forest fire". Subsec. (j). Pub. L. 96-487, §1407, added subsec. (j). 1978-Subsecs. (g) to (i). Pub. L. 95-600 added subsecs. (g) to (i).1976-Subsec. (f). Pub. L. 94-204 added subsec. (f).