Section 4
The sum of $66 million (the distribution) for the benefit of
the people of Bikini, Enewetak, Rongelap and Utirik.
(a)
The Government of the United States shall provide $33
million of the distribution by the first anniversary of this
Agreement and $6.6 million annually thereafter for each of the
next five years.
(b)
The annual amounts shall be paid to owners in propor-
tion to thelr respective percentage share of the total
distribution,
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The distribution shall be owned as follows:
(1)
by the people of Bikini, $25million;
(2)
by the people of Enewetak, $ 4& million;
(3)
by the people of Rongelap, $¢§ million;
{4}
by the people of Utirik, §/0 million;
(¢)
No owner of any portion of the distribution shall have
control over any other portion.
{(d)
The distribution and any earnings derived therefrom may
be used for special needs, including education and island rehabilitation, as each owner may dictate, and distributed or reinvested as each owner may determine.
(e)
The distribution and any earnings derived shall not be
taxable by the Government of the United States, to the extent
that:
(1)
those earnings derive from investment in instruments
of the Government of the United States and other investments as
may otherwise be mutually agreed; and
(2)
The distribution remain intact in an institution in
the United States,
This provision is without prejudice to the
ability of the owners to redistribute all or a portion of the
distribution and its earnings to individuals or other entities.
The redistribution transaction itself shall not be taxable by the
Government of the United States, but after redistribution, the
earnings of such redistributed funds shall be taxable.
Article III
The sum of $34/million for utilization by the Government of
Le
the Marshall Islands in implementation of its programs and services
related to the consequences of the nuclear testing program.
The
Government of the Marshall Islands shall allocate, as it may deem
proper, this distribution among the following three categories of
programs;
,
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