§ 161a. Tribal funds in trust in Treasury Department; investment by Secretary of the Treasury; maturities; interest; funds held in trust for individual Indians

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1929

   Pub. L. 70–178 § 1 · 45 Stat. 287

   Enacted · 25 U.S.C. § 161a

   Feb. 12, 1929, ch. 178, § 1, 45 Stat. 1164

   Source evidence

   Code source credit
   Feb. 12, 1929, ch. 178, § 1, 45 Stat. 1164

2. 1984

   Pub. L. 98–451 · 98 Stat. 1729

   1. Amended · 25 U.S.C. § 161a

      Pub. L. 98–451 amended section generally

   2. Substituted · 25 U.S.C. § 161a

      Pub. L. 98–451 substituting provisions directing that all funds held in trust by the United States and carried in principal accounts on the books of the United States Treasury to the credit of Indian tribes be invested by the Secretary of the Treasury, at the request of the Secretary of the Interior, in public debt securities with maturities suitable to the needs of the fund involved, as determined by the Secretary of the Interior, and bearing interest at rates determined by the Secretary of the Treasury, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable maturities for provisions which required that all funds with account balances exceeding $500 held in trust by the United States and carried in principal accounts on the books of the Treasury Department to the credit of Indian tribes, upon which interest was not otherwise authorized by law, bear simple interest at the rate of 4 per centum per annum

   Source evidence

   Code amendment note
   Pub. L. 98–451 amended section generally, substituting provisions directing that all funds held in trust by the United States and carried in principal accounts on the books of the United States Treasury to the credit of Indian tribes be invested by the Secretary of the Treasury, at the request of the Secretary of the Interior, in public debt securities with maturities suitable to the needs of the fund involved, as determined by the Secretary of the Interior, and bearing interest at rates determined by the Secretary of the Treasury, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable maturities for provisions which required that all funds with account balances exceeding $500 held in trust by the United States and carried in principal accounts on the books of the Treasury Department to the credit of Indian tribes, upon which interest was not otherwise authorized by law, bear simple interest at the rate of 4 per centum per annum.

3. 1994

   American Indian Trust Fund Management Reform Act of 1994

   Pub. L. 103–412 title I § 103(a) · 108 Stat. 4239

   1. Amended · 25 U.S.C. § 161a

      Pub. L. 103–412 designated existing provisions as subsec. (a)

   2. Added · 25 U.S.C. § 161a

      Pub. L. 103–412 added subsec. (b)

   Source evidence

   Code amendment note
   Pub. L. 103–412 designated existing provisions as subsec. (a) and added subsec. (b).

   Enacted provision · exact public law section
   (a) Payment of Interest.— The first section of the Act of February 12, 1929 (25 U.S.C. 161a), is amended— (1) by striking out “That all” and inserting in lieu thereof “That (a) all”; and (2) by adding after subsection (a) (as designated by paragraph (1) of this subsection) the following: “(b) All funds held in trust by the United States and carried in principal accounts on the books of the United States Treasury to the credit of individual Indians shall be invested by the Secretary of the Treasury, at the request of the Secretary of the Interior, in public debt securities with maturities suitable to the needs of the fund involved, as determined by the Secretary of the Interior, and bearing interest at rates determined by the Secretary of the Treasury, taking into consideration current market yields on outstanding marketable obligations of the United States of com-parable securities.”.

   Effective date note
   Pub. L. 103–412, title I, § 103(d), Oct. 25, 1994, 108 Stat. 4241, provided that: “The amendment made by subsection (a) [amending this section] shall apply to interest earned on amounts deposited or invested on or after the date of the enactment of this Act [Oct. 25, 1994].”

2 of 5 references resolved to an enrolled provision · 3 partial