Us Code § 1408 - Resources exemption

Full text of Us Code United States Code § 1408 — Resources exemption, with citation guidance and answers to common questions.

§ 1408. Resources exemption

Interests of individual Indians in trust or restricted lands shall not be considered a resource, and up to $2,000 per year of income received by individual Indians that is derived from such interests shall not be considered income, in determining eligibility for assistance under the Social Security Act [42 U.S.C. 301 et seq.] or any other Federal or federally assisted program.

(Pub. L. 93–134, §8, as added Pub. L. 97–458, §4, Jan. 12, 1983, 96 Stat. 2514; amended Pub. L. 103–66, title XIII, §13736(a), Aug. 10, 1993, 107 Stat. 663.)


Editorial Notes

References in Text

The Social Security Act, referred to in text, is act Aug. 14, 1935, ch. 531, 49 Stat. 620, which is classified generally to chapter 7 (§301 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see section 1305 of Title 42 and Tables.

Amendments

1993—Pub. L. 103–66 inserted ", and up to $2,000 per year of income received by individual Indians that is derived from such interests shall not be considered income," after "resource".


Statutory Notes and Related Subsidiaries

Effective Date of 1993 Amendment

Pub. L. 103–66, title XIII, §13736(b), Aug. 10, 1993, 107 Stat. 663, provided that: "The amendment made by this section [amending this section] shall take effect on January 1, 1994."

CHAPTER 17—FINANCING ECONOMIC DEVELOPMENT OF INDIANS AND INDIAN ORGANIZATIONS

GENERAL PROVISIONS

Sec.
1451.
Congressional declaration of policy.
1452.
Definitions.
1453.
Assistance or activities of other Federal agencies unaffected.

        

SUBCHAPTER I—INDIAN REVOLVING LOAN FUND

1461.
Administration as single Indian Revolving Loan Fund sums from diverse sources; availability of fund for loans to Indians and for administrative expenses.
1462.
Economic development; educational loans; limitation of loans to or investments in non-Indian organizations.
1463.
Repayment of loan; financing from other sources.
1464.
Maturity of loans; interest rate; interest deferral on educational loans.
1465.
Modification of amount of loan and document securing loan in collection of loan or in best interests of the United States.
1466.
Land and personal property title.
1467.
Security for loan; assignment of securities; reasonable assurance of repayment.
1468.
Authorization of appropriations.
1469.
Rules and regulations.

        

SUBCHAPTER II—LOAN GUARANTY AND INSURANCE

1481.
Loan guaranties and insurance.
1482.
Premium charges; deposits in Indian Loan Guaranty and Insurance Fund.
1483.
Interest rate.
1484.
Application for loan; approval by Secretary; issuance of certificate; limitations on amount of loans to individual Indians or economic enterprises; review by Secretary.
1485.
Sale or assignment of loans and underlying security.
1486.
Loans ineligible for guaranty or insurance.
1487.
Loans eligible for insurance.
1488.
Lenders authorized to make loans; decrease or increase of liability under the guaranty.
1489.
Loans made by certain financial institutions without regard to limitations and restrictions of other Federal statutes with respect to certain particulars.
1490.
Maturity of loans.
1491.
Defaults; written notification; pro rata payments; subrogation and assignment rights of Secretary; cancellation of uncollectable portion of obligations; forbearance for benefit of borrower; interest or charges cessation date.
1492.
Claims for losses; submission to Secretary; reimbursement: single and aggregate loss limitations, conditions; assignment of note or judgment; collection or cancellation by Secretary; interest or charges cessation date.
1493.
Loan refusal; conditions; prohibition against acquisition of additional loans; payment of claims on loans made in good faith.
1494.
Evidence of eligibility of loan for and amount of guaranty or insurance; defenses and partial defenses against original lender.
1495.
Land and personal property titles.
1496.
Powers of Secretary; finality of financial transactions and property acquisitions, management, and dispositions.
1497.
Indian Loan Guaranty and Insurance Fund.
1497a.
Supplemental surety bond guarantee.
1498.
Rules and regulations.
1499.
Limitation on guarantee of debt issues; approval of bond issue sale.

        

SUBCHAPTER III—INTEREST SUBSIDIES AND ADMINISTRATIVE EXPENSES

1511.
Interest subsidies; rules and regulations.
1512.
Authorization of appropriations for interest payments.

        

SUBCHAPTER IV—INDIAN BUSINESS GRANTS

1521.
Indian Business Development Program; establishment; statement of purpose.
1522.
Conditions.
1523.
Authorization of appropriations.
1524.
Rules and regulations.

        

SUBCHAPTER V—MISCELLANEOUS PROVISIONS

1541.
Competent management and technical assistance for economic enterprises.
1542.
Agency cooperation; private contracts for management services and technical assistance.
1543.
Funds limitation for private contracts.
1544.
Additional compensation to contractors of Federal agency.
1545.
Livestock loans; cash settlements.
1546.
Disposition of cash settlements.

        

GENERAL PROVISIONS

About This Section

25 U.S.C. § 1408 is part of Title 25 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.

This section may be cited in legal writing as 25 U.S.C. § 1408. For the most current official text, including any recent amendments, use the official source links below. Do not rely on this page as the sole authority for legal citation or litigation.

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Sources

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Frequently Asked Questions About Us Code § 1408

What does United States Code § 1408 cover?

Section 1408 ("Resources exemption") is part of the United States Code, the codified statutory law of Us Code. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Us Code § 1408?

A common citation format is "United States Code § 1408" (Us Code). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Us Code law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Us Code official source linked on this page or consult a licensed Us Code attorney.

How does Us Code § 1408 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Us Code can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Us Code.