A bill to provide for the division, use, and distribution of judgment funds of the Ottawa and Chippewa Indians of Michigan pursuant to Dockets Numbered 18-E, 58, 364, and 18-R before the Indian Claims Commission.

Provides for the division, use, and distribution of funds appropriated in full satisfaction of judgments made by the Indian Claims Settlement Commission to: (1) the Bay Mills Indian Community, the Sault Ste. Marie Tribe of Chippewa Indians, and the Grand Traverse Band of Ottawa and Chippewa Indians (the three federally recognized Ottawa and Chippewa successor organizations); and (2) the Ottawa and Chippewa descendant group.

Requires the Secretary of the Interior to supervise the preparation of tribal membership rolls and to prepare a membership roll for the descendant group. Sets forth procedures for the enrollment of members on the tribal rolls.

Sets forth formulae for the division and distribution of such funds among the successor tribal organizations and the descendant group, including payments: (1) on a per capita basis; (2) for social and economic development; and (3) for the establishment of an Elderly Assistance Program (Sault Ste. Marie Tribe only). Provides for the payment of funds to competent and legally incompetent individuals and minors, and deceased individual beneficiaries.

Exempts such funds from: (1) Federal and State income tax; and (2) being considered as income or resources for purposes of eligibility for assistance under Federal assistance programs (including the Social Security Act).