Settlement
In December 2009 the government announced having reached a settlement in the trust case. In 2010 Congress passed the Claims Resolution Act of 2010, which provided $3.4 billion for the settlement of the Cobell v. Salazar class-action trust case (and four Indian water-rights cases.) Among the provisions are for the government to buy land from Indian owners, which has been highly fractionated, and finally return it to communal tribal ownership, correcting for a longstanding issue that was supposed to be a temporary provision.
"The $3.4 billion will be placed in a still-to-be-selected bank and $1.4 billion will go to individuals, mostly in the form of checks ranging from $500 to $1,500. A small group, such as members of the Osage tribe who benefit from huge Oklahoma oil revenues, will get far more, based on a formula incorporating their 10 highest years of income between 1985 and 2009. As important, $2 billion will be used to buy trust land from Indian owners at fair market prices, with the government finally returning the land to tribes. Nobody can be forced to sell."
Read more about this topic: Cobell V. Salazar
Famous quotes containing the word settlement:
“Free from public debt, at peace with all the world, and with no complicated interests to consult in our intercourse with foreign powers, the present may be hailed as the epoch in our history the most favorable for the settlement of those principles in our domestic policy which shall be best calculated to give stability to our Republic and secure the blessings of freedom to our citizens.”
—Andrew Jackson (1767–1845)
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—S.J. Perelman, U.S. screenwriter, Arthur Sheekman, Will Johnstone, and Norman Z. McLeod. Groucho Marx, Monkey Business, terms for a divorce settlement proposed while trying to woo Lucille Briggs (Thelma Todd)
“The settlement of America had its origins in the unsettlement of Europe. America came into existence when the European was already so distant from the ancient ideas and ways of his birthplace that the whole span of the Atlantic did not widen the gulf.”
—Lewis Mumford (1895–1990)