United States Congress
To amend the Act of August 9, 1955 (commonly known as the "Long-Term Leasing Act"), to authorize leases of up to 99 years for land held in trust for the Mashpee Wampanoag Tribe and the Wampanoag Tribe of Gay Head (Aquinnah), and for other purposes.
December 18, 2024
Summary
The bill would amend the Long-Term Leasing Act to permit leases of up to 99 years on trust land held for the Mashpee Wampanoag Tribe and the Wampanoag Tribe of Gay Head (Aquinnah), rather than the standard 25-year term with renewal options. It is an introduced House bill with no stated effective date and does not amend any mortgage or consumer-financial statute directly, but it would affect the viability of leasehold mortgage financing on these reservations.
AI-generated summary · Sep 23, 2026. Verify with your compliance counsel before acting.
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Source: https://www.congress.gov/bill/118th-congress/hr-bill/10492
Common questions
- What does "To amend the Act of August 9, 1955 (commonly known as the "Long-Term Leasing Act"), to authorize leases of up to 99 years for land held in trust for the Mashpee Wampanoag Tribe and the Wampanoag Tribe of Gay Head (Aquinnah), and for other purposes." cover?
- The bill would amend the Long-Term Leasing Act to permit leases of up to 99 years on trust land held for the Mashpee Wampanoag Tribe and the Wampanoag…
- Which agency issued this update?
- This update was issued by United States Congress.
- When was it published?
- It was published on December 18, 2024.