Internal Revenue Code · 26 U.S.C.

§ 139G. Assignments to Alaska Native Settlement Trusts

In force Text current through Public Law 119-121 (October 9, 2026) release point 119-121

Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).

Cite as 26 U.S.C. § 139G

At a glance

Read from the text, the source credit and the official notes. Not part of the law.

Status: In force
Added: December 22, 2017 by Pub. L. 115–97
Length: 6 subsections · 300 words · about 1 min to read
Defines: 2 terms
Cross-references: cites 2; cited by 0 Code sections and 0 other regulations

¶(a) In general In the case of a Native Corporation, gross income shall not include the value of any payments that would otherwise be made, or treated as being made, to such Native Corporation pursuant to, or as required by, any provision of the Alaska Native Claims Settlement Act (43 U.S.C. 1601 et seq.), including any payment that would otherwise be made to a Village Corporation pursuant to section 7(j) of the Alaska Native Claims Settlement Act (43 U.S.C. 1606(j)), provided that any such payments—

¶(1) are assigned in writing to a Settlement Trust, and

¶(2) were not received by such Native Corporation prior to the assignment described in paragraph (1).

¶(b) Inclusion in gross income

In the case of a Settlement Trust which has been assigned payments described in subsection (a), gross income shall include such payments when received by such Settlement Trust pursuant to the assignment and shall have the same character as if such payments were received by the Native Corporation.

¶(c) Amount and scope of assignment

The amount and scope of any assignment under subsection (a) shall be described with reasonable particularity and may either be in a percentage of one or more such payments or in a fixed dollar amount.

¶(d) Duration of assignment; revocability Any assignment under subsection (a) shall specify—

¶(1) a duration either in perpetuity or for a period of time, and

¶(2) whether such assignment is revocable.

¶(e) Prohibition on deduction

Notwithstanding section 247, no deduction shall be allowed to a Native Corporation for purposes of any amounts described in subsection (a).

¶(f) Definitions

For purposes of this section, the terms “Native Corporation” and “Settlement Trust” have the same meaning given such terms under section 646(h).

(Added Pub. L. 115–97, title I, § 13821(a)(1), Dec. 22, 2017, 131 Stat. 2178.)

Terms defined here

Where the text says “the term … means”. Select a term to jump to its definition.

Native Corporation § 139G(f)
Settlement Trust § 139G(f)

Cross-references

Computed from the citations in the text of Title 26 and 26 CFR.

This section cites 2 other sections

Amendment history

From the source credit and the official notes, newest first.

December 22, 2017Added by Pub. L. 115–97

Where it sits in the Code

Nearby sections

Official notes

Show the Law Revision Counsel's notes (amendments, effective dates)

Editorial Notes

References in Text

The Alaska Native Claims Settlement Act, referred to in subsec. (a), is Pub. L. 92–203, Dec. 18, 1971, 85 Stat. 688, which is classified generally to chapter 33 (§ 1601 et seq.) of Title 43, Public Lands. For complete classification of this Act to the Code, see Short Title note set out under section 1601 of Title 43 and Tables.

Effective Date

Pub. L. 115–97, title I, § 13821(a)(3), Dec. 22, 2017, 131 Stat. 2178, provided that: “The amendments made by this subsection [enacting this section] shall apply to taxable years beginning after December 31, 2016.”