SALE Act

To ensure equitable treatment of Shee Atiká, Incorporated, under the Alaska Native Claims Settlement Act by facilitating the transfer of land on Admiralty Island, Alaska, and for other purposes. 1. Short title This Act may be cited as the Shee Atiká Land Entitlement Act SALE Act 2. Shee Atiká, Incorporated (a) Definitions In this section: (1) Account The term Account (2) Agency The term agency (A) any department, agency, or other instrumentality of the Federal Government; and (B) any Government corporation (as defined in section 9101 of title 31, United States Code). (3) Agreement The term Agreement (4) Cube cove land The term Cube Cove Land (5) Property The term property 43 U.S.C. 1611 Public Law 94–204 (6) Secretary The term Secretary (7) Segment The term segment (8) Shee atiká The term Shee Atiká (b) Authorization (1) In general All consideration, whether in cash or in kind, received by Shee Atiká under the Agreement shall be treated for purposes of all Federal laws as if the consideration was, within the meaning of section 21(c) of the Alaska Native Claims Settlement Act ( 43 U.S.C. 1620(c) 43 U.S.C. 1601 et seq. 43 U.S.C. 1621(f) (2) Effect Nothing in the Agreement or this section imposes any duty on Shee Atiká not expressly set forth in the Agreement. In the event such Agreement is terminated prior to a complete acquisition by the United States of all of Shee Atiká’s Cube Cove Lands and interests in such lands, neither such Agreement nor this section shall— (A) constitute a cloud of title, lien, or encumbrance of any sort on Shee Atiká’s remaining Cube Cove Lands or interests therein; or (B) limit in any manner the use of any portion of Shee Atiká’s remaining Cube Cove Lands or interests therein. (3) Indian legislation This section is a further implementation of the Alaska Native Claims Settlement Act and is Indian legislation enacted by Congress pursuant to plenary authority under the Constitution of the United States to regulate Indian Affairs. (c) Option To receive credits (1) In general (A) Credits On election by Shee Atiká made in writing not later than the day before the date on which a closing of any segment of the Cube Cove Land is scheduled to occur, the Secretary, in accordance with subsection (d), may pay all or part of the amounts due to Shee Atiká under the Agreement on the closing date in the form of credits that may be used by Shee Atiká to purchase property sold at public sale. (B) Cash Amounts otherwise due to Shee Atiká for which Shee Atiká has not made the election described in subparagraph (A) shall be paid to Shee Atiká in cash. (2) Requirement The Secretary shall make a payment in the form described in paragraph (1) without regard to whether Shee Atiká has made any other election under paragraph (1). (3) Closing date Closing of any segment for which Shee Atiká has made an election under paragraph (1) shall occur not later than 30 days after the date on which the Secretary notifies Shee Atiká that the applicable credit is ready to be deposited into the Account. (d) Establishment of account (1) In general Notwithstanding any other provision of law, not later than 90 days after Shee Atiká first makes an election under subsection (c)(1), the Secretary of the Treasury, in consultation with the Secretary, shall establish an account in the Treasury to be known as the Shee Atiká Account (2) Credits into account The Secretary of the Treasury, in consultation with the Secretary, shall— (A) deposit into the Account amounts equal to any credit received under subsection (c); and (B) establish procedures under which Shee Atiká may— (i) receive deposits into the Account; (ii) make deposits from the Account into escrow when an escrow is required for the sale of any property; (iii) reinstate to the Account any unused escrow deposits under clause (ii) if the applicable sale is not completed; and (iv) notwithstanding any other provision of law and on written notice to the Secretary of the Treasury and the Secretary, assign, without restriction, any or all of the amounts in the Account. (3) Availability of amounts The balance of the Account shall— (A) be immediately available to Shee Atiká for use in accordance with paragraph (4); and (B) remain available until expended. (4) Use of funds (A) In general Shee Atiká may use amounts in the Account to bid for, and purchase, any property at any public sale by an agency. (B) Requirement In conducting a transaction under subparagraph (A), an agency shall accept any amount tendered from the Account in the same manner as if the amount were tendered in cash. (5) Effect Notwithstanding any other provision of law, any property purchased under paragraph (4) shall be considered to be a conveyance made under the Alaska Native Claims Settlement Act ( 43 U.S.C. 1601 et seq.

Summary: Shee Atika Land Entitlement Act or the SALE Act This bill declares that consideration received by the urban Native corporation of Shee Atika under the agreement between Shee Atika and the United States must be treated as the receipt of land or interest in land pursuant to the Alaska Native Claims Settlement Act or as cash to equalize the values of properties exchanged pursuant to that Act. (Under the Act, these considerations are not taxed.) Shee Atika may elect to accept payment from the Department of Agriculture for Cube Cove lands into an account that may be used to purchase property sold at public sale by a federal agency. Purchases made through that account must be considered to be conveyances under the Alaska Native Claims Settlement Act.