[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 1484 Referred in House (RFH)]
109th CONGRESS
1st Session
S. 1484
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
July 27, 2005
Referred to the Committee on Resources
_______________________________________________________________________
AN ACT
To amend the Fallon Paiute Shoshone Indian Tribes Water Rights
Settlement Act of 1990.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. FALLON PAIUTE SHOSHONE TRIBES SETTLEMENT.
(a) Settlement Fund.--Section 102 of the Fallon Paiute Shoshone
Indian Tribes Water Rights Settlement Act of 1990 (Public Law 101-618;
104 Stat. 3289) is amended--
(1) in subsection (C)--
(A) in paragraph (1)--
(i) by striking the matter preceding
subparagraph (a) and inserting the following:
``Notwithstanding any conflicting provision in
the original Fund plan during Fund fiscal year
2006 or any subsequent Fund fiscal year, 6
percent of the average quarterly market value
of the Fund during the immediately preceding 3
Fund fiscal years (referred to in this title as
the `Annual 6 percent Amount'), plus any
unexpended and unobligated portion of the
Annual 6 percent Amount from any of the 3
immediately preceding Fund fiscal years that
are subsequent to Fund fiscal year 2005, less
any negative income that may accrue on that
portion, may be expended or obligated only for
the following purposes:''; and
(ii) by adding at the end the following:
``(g) Fees and expenses incurred in connection with the
investment of the Fund, for investment management, investment
consulting, custodianship, and other transactional services or
matters.''; and
(B) by striking paragraph (4) and inserting the
following:
``(4) No monies from the Fund other than the amounts authorized
under paragraphs (1) and (3) may be expended or obligated for any
purpose.
``(5) Notwithstanding any conflicting provision in the original
Fund plan, during Fund fiscal year 2006 and during each subsequent Fund
fiscal year, not more than 20 percent of the Annual 6 percent Amount
for the Fund fiscal year (referred to in this title as the `Annual 1.2
percent Amount') may be expended or obligated under paragraph (1)(c)
for per capita distributions to tribal members, except that during each
Fund fiscal year subsequent to Fund fiscal year 2006, any unexpended
and unobligated portion of the Annual 1.2 percent Amount from any of
the 3 immediately preceding Fund fiscal years that are subsequent to
Fund fiscal year 2005, less any negative income that may accrue on that
portion, may also be expended or obligated for such per capita
payments.''; and
(2) in subsection (D), by adding at the end the following:
``Notwithstanding any conflicting provision in the original
Fund plan, the Fallon Business Council, in consultation with
the Secretary, shall promptly amend the original Fund plan for
purposes of conforming the Fund plan to this title and making
nonsubstantive updates, improvements, or corrections to the
original Fund plan.''.
(b) Definitions.--Section 107 of the Fallon Paiute Shoshone Indian
Tribes Water Rights Settlement Act of 1990 (Public Law 101-618; 104
Stat. 3293) is amended--
(1) by redesignating subsections (D), (E), (F), and (G) as
subsections (F), (G), (H), and (I), respectively; and
(2) by striking subsections (B) and (C) and inserting the
following:
``(B) the term `Fund fiscal year' means a fiscal year of
the Fund (as defined in the Fund plan);
``(C) the term `Fund plan' means the plan established under
section 102(F), including the original Fund plan (the `Plan for
Investment, Management, Administration and Expenditure dated
December 20, 1991') and all amendments of the Fund plan under
subsection (D) or (F)(1) of section 102;
``(D) the term `income' means the total net return from the
investment of the Fund, consisting of all interest, dividends,
realized and unrealized gains and losses, and other earnings,
less all related fees and expenses incurred for investment
management, investment consulting, custodianship and
transactional services or matters;
``(E) the term `principal' means the total amount
appropriated to the Fallon Paiute Shoshone Tribal Settlement
Fund under section 102(B);''.
Passed the Senate July 26, 2005.
Attest:
EMILY J. REYNOLDS,
Secretary.