A bill to provide for the use and distribution of Seminole judgment funds in Dockets 73 and 151 before the Indian Claims Commission, and for other purposes.

Provides for the use and distribution of judgment funds awarded by the Indian Claims Commission to the Seminole Indians. Directs the Secretary of the Interior to divide such funds by specified percentages between the Seminole Nation of Oklahoma and the Seminole Indians of Florida.

Distributes to the Seminole Nation of Oklahoma: (1) 64 percent of such funds in per capita payments to tribal members by blood; (2) 20 percent of such funds in investments for social and economic programs; and (3) 16 percent in investments for periodic payments to such members. Requires the tribal governing body to maintain a Standing Judgment Fund Committee comprised of 12 members representing the 12 Oklahoma Seminole by blood bands. Authorizes such committee to make recommendations regarding the implementation of programming elements for such tribes.

Provides that the share of funds awarded to the Seminole Indians of Florida be divided among the Seminole Tribe of Florida, the Miccosukee Tribe of Indians of Florida, and the unaffiliated Seminoles of Florida on the basis of their respective numbers. Requires that for the Seminole Tribe and the Miccosukee Tribe 80 percent of such funds be distributed on a per capita basis and 20 percent be available for tribal social and economic programs.

Makes unaffiliated Florida Seminoles, who are or who have direct ancestors who were enrolled on certain Florida Seminole censuses, eligible to participate in such distribution. Provides that all such funds be distributed on a per capita basis.

Sets forth procedures for handling per capita shares of living competent adults, deceased beneficiaries, legal incompetents, and minors.

Exempts any funds distributed under this Act from Federal or State income taxes and from income counted in determining eligibility for Federal, State, or local programs of assistance.