Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 25 - Indians |
Chapter V - Bureau of Indian Affairs, Department of the Interior, and Indian Health Service, Department of Health and Human Services |
Part 900 - Contracts Under the Indian Self-Determination and Education Assistance Act |
Subpart P - Retrocession and Reassumption Procedures |
§ 900.255 - What obligation does the Indian tribe or tribal organization have with respect to returning property that was used in the operation of the rescinded contract?
Latest version.
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§ 900.255 What obligation does the Indian tribe or tribal organization have with respect to returning property that was used in the operation of the rescinded contract?
On the effective date of any rescission, the Indian tribe or tribal organization shall, at the request of the Secretary, deliver to the Secretary all property and equipment provided under the contract which has a per item current fair market value, less the cost of improvements borne by the Indian tribe or tribal organization, in excess of $5,000 at the time of the retrocession.