Mashantucket Pequot Indian Claims Settlement Act

[AI summary unavailable — showing source text] Mashantucket Pequot Indian Claims Settlement Act - Establishes the Mashantucket Pequot Settlement Fund (the Fund) in the Treasury and directs the Secretary of the Interior to act as trustee for the benefit of the Mashantucket Pequot Tribe (the Tribe). Directs the Secretary to spend, upon the Tribe's request, the principal and income accruing to the Fund. Specifies the amounts available to the Secretary for acquisition of private settlement lands. Directs the Tribe to submit economic development plans subject to the Secretary's approval, and establishes guidelines for the disbursement of trust funds under such plans. Establishes guidelines reducing the Government's trust responsibility to the Tribe as the Fund is disbursed. Specifies lands to be held by the United States as trustee. Provides formulae for land acquisition and condemnation proceedings by the Secretary. Deems transfers of specified private settlement lands as involuntary conversions for Internal Revenue Code purposes. Authorizes appropriations for the Fund. Approves transfers of land or natural resources executed by the Tribe prior to the Act. Extinguishes Tribal or Indian claims to such lands based upon rights, intere…