PREC 15-97    Treatment of Income received from Bonds of Tribal Enterprise     Citation: Vet. Aff. Op. Gen Couns. Prec. 15-97, VAOPGCPREC 15-97, 1997

QUESTIONS PRESENTED:

a.  Are interest payments received from bonds issued by Menominee Enterprises, Inc. countable as income for purposes of determining entitlement to improved pension?

b.  Are interest payments received from such bonds countable as income under the section 306 pension program, the old law pension program, or the parents’ dependency and indemnity compensation program?

HELD:

a.  Interest payments received by individuals based upon their status as holders of bonds issued by Menominee Enterprises, Inc., a corporation formed upon termination of Federal supervision of the Menominee Indian Tribe, must be included in annual income for purposes of determining eligibility for improved pension.

b.  Interest payments received by individuals based on their status as holders of bonds issued by Menominee Enterprises, Inc. are likewise countable as income for purposes of determining entitlement under the section 306 pension, old law
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pension, and parents’ dependency and indemnity compensation programs.