Shoalwater Bay Indian Tribe-Dexter by the Sea Claim Settlement Act

(Measure passed Senate, amended)

Shoalwater Bay Indian Tribe-Dexter by the Sea Claim Settlement Act - Authorizes the Secretary of the Treasury to pay a specified amount to the Shoalwater Bay Indian Tribe of Washington to settle tribal claims regarding a previous transfer by the United States of certain lands within the Shoalwater Bay Reservation known as Dexter by the Sea.

Extinguishes tribal claims of title to such lands upon receipt of payment. Ratifies the validity of a specific land transfer by the United States to George N. Brown, patentee.

Conditions such payment upon: (1) tribal waiver of all rights and claims to certain lands within the Reservation; and (2) dismissal with prejudice by a certain Federal district court of a specified Shoalwater Bay Indian Tribe complaint.

Prohibits any per capita distribution of such payment to Shoalwater Bay tribal members.

Authorizes the Tribe to use the funds for purposes authorized by tribal ordinance or resolution, including investment for economic development.

Requires the Tribe to maintain a segregated accounting system for all principal and income from the funds and to conduct an annual audit.

States that the funds held and administered by the Tribe shall be treated as if held in trust by the Secretary of the Interior. Absolves such Secretary from any trust responsibility after payment of the funds to the Tribe.

Exempts the principal and income of the fund from Federal or State income taxes, and from any consideration for eligibility under Federal assistance programs, including Social Security.