
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 25USC955]

 
                            TITLE 25--INDIANS
 
                        CHAPTER 14--MISCELLANEOUS
 
SUBCHAPTER XLIV--AGUA CALIENTE (PALM SPRINGS) RESERVATION OF CALIFORNIA: 
                       EQUALIZATION OF ALLOTMENTS
 
Sec. 955. Tax exemption

    (a) The right to an equalization allotment or to a cash payment in 
lieu thereof pursuant to section 953(d) of this title, shall be 
transferable by will or descent in the same manner as are trust payments 
under existing law and shall not be subject to State or Federal 
inheritance, estate, legacy, or succession taxes.
    (b) A cash payment made in lieu of an equalization allotment 
pursuant to section 953(d) of this title shall not be regarded as income 
or capital gain for purposes of Federal or State income taxation and 
shall not, as long as it remains in the form of cash or a bank deposit 
in the ownership of the allottee, be subject to taxation as personal 
property. A payment and the income derived therefrom heretofore or 
hereafter made to an allottee as compensation for the acquisition of 
part or all of the allottee's allotment for a public purpose is--
        (1) deemed a cash payment in lieu of an allotment for purposes 
    of this subsection;
        (2) deemed a right under subsection (a) of this section; and
        (3) subject to sections 409a and 410 of this title.

(Pub. L. 86-339, Sec. 5, Sept. 21, 1959, 73 Stat. 604; Pub. L. 100-581, 
title II, Sec. 216, Nov. 1, 1988, 102 Stat. 2941.)


                               Amendments

    1988--Subsec. (b). Pub. L. 100-581 inserted sentence at end relating 
to payment and income derived therefrom made as compensation for 
acquisition of part of all of allottee's allotment for public purpose.

                  Section Referred to in Other Sections

    This section is referred to in section 162a of this title.
