To establish the Trinity River Restoration Fund, and for other purposes.

Summary: Trinity River Restoration Fund Act of 2007 - Establishes in the Treasury the Trinity River Restoration Fund to be available to the Secretary of the Interior for use solely for the purpose of implementing the preferred alternative identified in the Record of Decision issued by the Secretary with the concurrence of the Hoopa Valley Tribe on December 19, 2000, on Trinity River Mainstem Fishery Restoration. Authorizes the Secretary to accept and expend funds from public and private sources to assist in the implementation of the Record of Decision.

Provides that amounts deposited into the Fund for specific purposes shall be expended for those purposes only and shall not be subject to appropriation. Requires specified deposits to the Fund from: (1) the capital component of payments made pursuant to long-term contracts with the Bureau of Reclamation by Central Valley Project (CVP) water and power contractors; and (2) non-federal funds contributed to the United States for implementation of the Record of Decision or federal funds appropriated to the Trinity River Restoration Fund.

Makes federal costs of implementing this Act nonreimburseable under federal reclamation law.

Sets forth provisions regarding: (1) funding in the event Central Valley Project (CVP) capital repayments fall below necessary levels; (2) biennial summary reports from the Secretary; (3) required cost of living adjustments; and (4) a reduction of CVP's capital repayment obligation by the amount paid into the Fund.

SECTION 1. SHORT TITLE; DEFINITIONS.

    (a) Short Title.--This Act may be cited as the ``Trinity River 
Restoration Fund Act of 2007''.
    (b) Definitions.--For the purposes of this Act:
            (1) Appendix c.--The term ``Appendix C'' means Appendix C 
        of the Final Environmental Impact Statement/Environmental 
        Impact Report for the Trinity River Mainstem Fishery.
            (2) Record of decision.--The term ``Record of Decision'' 
        means the Record of Decision issued by the Secretary with the 
        concurrence of the Hoopa Valley Tribe on December 19, 2000, on 
        ``Trinity River Mainstem Fishery Restoration''.
            (3) Secretary.--The term ``Secretary'' means the Secretary 
        of the Interior.

SEC. 2. ESTABLISHMENT AND PURPOSE OF FUND.

    (a) Establishment, Purpose.--There is hereby established in the 
United States Treasury a fund, to be known as the ``Trinity River 
Restoration Fund'', to be available to the Secretary for expenditure 
without further appropriation or fiscal year limitation, and which the 
Secretary shall use solely for the purpose of implementing the 
preferred alternative identified in the Record of Decision.
    (b) Authorization To Accept and Expend Funds.--The Secretary is 
authorized to accept and expend funds without further appropriation or 
fiscal year limitation from public and private sources to assist in the 
implementation of the Record of Decision.
    (c) Use for Specific Purposes.--Amounts deposited into the Trinity 
River Restoration Fund for specific purposes shall be expended for 
those purposes only and shall not be subject to appropriation.

SEC. 3. DEPOSITS INTO FUND.

    The following shall be deposited in the Trinity River Restoration 
Fund:
            (1)(A) Out of the capital component of payments made 
        pursuant to long-term contracts with the Bureau of Reclamation 
        by Central Valley Project water and power contractors 
        (excluding payments made by Friant Division long-term 
        contractors) and beginning the first full fiscal year beginning 
        after the date of the enactment of this Act and continuing each 
        subsequent fiscal year for 5 years, such amount per year as is 
        necessary to yield on an average annual basis over 5 years 
        $6,500,000 (October 2007 price levels), to be used to complete 
        the construction and associated administrative activities that 
        the Record of Decision incorporated pursuant to the 
        Implementation Plan for Trinity River restoration.
            (B) For purposes of this paragraph, construction activities 
        include portions or all of the Mechanical Rehabilitation, 
        Coarse and Fine Sediment Management Program, and Infrastructure 
        Modifications described in sections 2, 3, and 4 of Appendix C.
            (2)(A) Out of the capital component of payments made 
        pursuant to long-term contracts with the Bureau of Reclamation 
        by Central Valley Project water and power contractors 
        (excluding payments made by Friant Division long-term 
        contractors) and beginning the first fiscal year after the date 
        of the enactment of this Act and continuing through the 
        conclusion of the Central Valley Project repayment pursuant to 
        Public Law 99-546, such amount per year required to yield a 3-
        year rolling average of $11,000,000 (October 2007 price 
        levels), to fund operation, maintenance, repair, and 
        replacement, and associated administrative activities necessary 
        for the implementation of the Record of Decision.
            (B) For purposes of this paragraph--
                    (i) operation, maintenance, repair, and replacement 
                activities--
                            (I) are activities necessary to maintain 
                        the physical infrastructure constructed under 
                        paragraph (1); and
                            (II) those activities associated with 
                        Coarse and Fine Sediment Management, 
                        Infrastructure Modifications, Watershed 
                        Protection, and Adaptive Environmental 
                        Assessment and Management, described in 
                        sections 3, 4, 5, and 6 of Appendix C; and
                    (ii) associated administrative activities are those 
                described in Organizing to Implement the Trinity River 
                Restoration Program in section 7 of Appendix C.
            (3) Non-Federal funds contributed to the United States for 
        implementation of the Record of Decision or Federal funds 
        appropriated to the Trinity River Restoration Fund.

SEC. 4. COSTS; STATUTORY CONSTRUCTION.

    The Federal costs of implementing paragraphs (1) and (2) of section 
3 shall be nonreimbursable under Federal reclamation law. Nothing in 
this section shall--
            (1) limit or be construed to limit the use of the funds 
        assessed and collected pursuant to section 3407(d)(2) of the 
        Central Valley Project Improvement Act (Public Law 102-575; 106 
        Stat. 4706, 4727) for implementation of the Record of Decision; 
        or
            (2) be construed to limit or modify existing or future 
        Central Valley Project Ratesetting Policies.

SEC. 5. FUNDING IN THE EVENT CENTRAL VALLEY PROJECT CAPITAL REPAYMENTS 
              ARE UNAVAILABLE.

    For any fiscal year in which the capital component of payments made 
pursuant to long-term contracts with the Bureau of Reclamation by 
Central Valley Project water and power contractors (excluding payments 
made by Friant Division long-term contractors) falls below the amounts 
determined to be necessary for construction activities, operation, 
maintenance, repair, and replacement costs, and associated 
administrative costs under paragraphs (1) and (2) of section 3; or the 
said capital component payments have been completed, the Secretary 
shall deposit annually in the Trinity River Restoration Fund an amount 
sufficient to make up the shortfall from the following sources, to be 
available for expenditure without further appropriation or fiscal year 
limitation--
            (1) reimbursements pursuant to section 3406(b)(23) of the 
        Central Valley Project Improvement Act (Public Law 102-575; 106 
        Stat. 4706, 4720);
            (2) receipts to the Central Valley Project Restoration Fund 
        established by section 3407 of the Central Valley Project 
        Improvement Act (Public Law 102-575; 106 Stat. 4706, 4726); and
            (3) such other Federal funds appropriated to the Trinity 
        River Restoration Fund.

SEC. 6. REPORTING REQUIREMENT.

    Not later than 90 days after the beginning of the second full 
fiscal year after date of the enactment of this Act and every 2 years 
thereafter, the Secretary shall submit a summary report to the 
Committees on Indian Affairs and Energy and Natural Resources of the 
Senate and the Committee on Natural Resources of the House of 
Representatives. Summary reports under this section shall contain the 
following:
            (1) A description of the progress in implementing the 
        Trinity River Restoration Program and any barriers to the 
        achievement of restoration goals.
            (2) The separate views of the Hoopa Valley Tribe, the Yurok 
        Tribe, State and local governments, or other entities 
        participating in the implementation of the Record of Decision, 
        if any of these entities provide their views in writing to the 
        Secretary not later than 30 days before the beginning of the 
        fiscal year.
            (3) In the first report submitted pursuant to this section 
        following completion of the capital component of payments made 
        pursuant to long-term contracts with the Bureau of Reclamation 
        by Central Valley Project water and power contractors referred 
        to in section 3, the Secretary, after consultation with the 
        Hoopa Valley Tribe, the Yurok Tribe, State and local 
        governments, or other entities participating in the 
        implementation of the Record of Decision, shall set forth 
        recommendations, if any, with respect to adjustment of the 
        amount referred to in section 3(2).

SEC. 7. REQUIRED ADJUSTMENT.

    Beginning in the second full fiscal year beginning after the date 
of the enactment of this Act, each dollar amount specified in this Act 
shall be adjusted to reflect changes for the 1-year period ending the 
preceding November 30 in the Consumer Price Index for All Urban 
Consumers published by the Bureau of Labor Statistics of the Department 
of Labor.

SEC. 8. ADJUSTMENT TO CERTAIN PAYMENT OBLIGATIONS.

    The capital repayment obligation of Central Valley Project water 
and power contractors pursuant to long-term contracts with the Bureau 
of Reclamation and the appropriate share of the Federal investment in 
the Central Valley Project to be recovered by the United States 
pursuant to Public Law 99-546 (100 Stat. 3050) shall be reduced by the 
amount paid into the Trinity River Restoration Fund pursuant to section 
3(1) and section 3(2).

SEC. 9. EFFECT OF ACT.

    Except as specifically provided herein, nothing in this Act shall 
modify or affect in any way, the following:
            (1) The Act of August 12, 1955 (Public Law 84-386; 69 Stat. 
        719).
            (2) The Act of September 4, 1980 (Public Law 96-335; 94 
        Stat. 1062).
            (3) The Act of October 24, 1984 (Public Law 98-541; 98 
        Stat. 2721), as amended by the Act of May 15, 1996 (Public Law 
        104-143; 110 Stat. 1338).
            (4) The Act of October 27, 1986 (Public Law 99-546; 100 
        Stat. 3050).
            (5) The Central Valley Project Improvement Act (Public Law 
        102-575; 106 Stat. 4706).