Pigford and Individual Indian Money Account Litigation Settlement Act of 2010 - Appropriates to the Department of Agriculture $1.15 billion to carry out the terms of a Settlement Agreement executed by In re Black Farmers Discrimination Litigation that is approved by a court order that has become final and nonappealable, and that is comprehensive and provides for the final settlement of all remaining Pigford claims (relating to a racial discrimination action against the Department of Agriculture). Provides that the $1.15 billion shall be in addition to the $100 million in funds of the Commodity Credit Corporation (CCC) made available for the payment of Pigford claims and are available only after such CCC funds have been fully obligated. Provides that if such Settlement Agreement is not executed and approved as provided above, then the sole funding available for Pigford claims shall be the $100 million of CCC funds.
Authorizes, ratifies, and confirms the Class Action Settlement Agreement dated December 7, 2009, in the case entitled Elouise Cobell et al. v. Ken Salazar et al.
Establishes the Trust Land Consolidation Fund, and provides for the deposit of $2 billion in the Fund, on final approval of the Settlement, with funds being made available to the Secretary of the Interior: (1) to conduct the Land Consolidation Program (a program under which the Secretary may purchase fractional interests in trust or restricted land); and (2) for other costs of the Settlement.
Establishes, on final approval of the Settlement, the Indian Education Scholarship Holding Fund to provide scholarships for Native Americans through an Indian Education Scholarship Fund.
Excludes amounts received by an individual Indian as a lump sum or a periodic payment pursuant to the Settlement from: (1) gross income and adjusted gross income under the Internal Revenue Code; and (2) being considered for purposes of determining eligibility or level of benefits under any federal or federally assisted program, during the one-year period beginning on the date of receipt.
Provides for the determination of incentive awards, fees, expenses, and costs under the Settlement.