SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Indian Tribal Government Lease 
Agreement Act''.

SEC. 2. DEFINITIONS.

    As used in this Act:
            (1) The term ``Indian tribal government'' means the 
        governing body of any Indian tribe, band, nation, or other 
        organized group or community, including any Alaska Native 
        village or regional or village corporation as defined in or 
        established pursuant to the Alaska Native Claims Settlement 
        Act, which is recognized as eligible for the special programs 
        and services provided by the United States to Indians because 
        of their status as Indians.
            (2) The term ``Secretary'' means the Secretary of the 
        Interior.
            (3) The term ``Fund'' means the Fund established by section 
        4.
            (4) The term ``account'' means an account within the Fund 
        established on behalf of an Indian tribal government in 
        connection with a lease agreement entered into by that tribal 
        government pursuant to section 3.
            (5) The term ``essential governmental function'' means any 
        function carried out by, or on behalf of, an Indian tribal 
        government involving the planning, design, construction, 
        repair, improvement, and expansion of education facilities.

SEC. 3. SELF-DETERMINATION AGREEMENTS.

    (a) Purpose.--The Secretary is authorized, under section 102 of the 
Indian Self-Determination and Education Assistance Act, to enter into 
lease agreements with Indian tribal governments pursuant to which the 
Secretary agrees to lease, for a period of years, facilities 
constructed by any such tribal government for use in carrying out an 
essential governmental function.
    (b) Terms.--Any lease agreement shall include such terms and 
conditions as the Secretary determines necessary or appropriate to 
assure that the proceeds from bonds, sold by an Indian tribal 
government for the purpose of constructing a facility to be covered by 
such lease agreement, will be used only in the manner, and for the 
purposes, approved by the Secretary.
    (c) Indian Priority List.--In determining which Indian tribal 
government may enter into a lease agreement under this Act, the 
Secretary shall follow the Education Facilities Construction Priority 
list as of fiscal year 1993 or as thereafter modified.

SEC. 4. THE TRIBAL GOVERNMENT LEASE FUND.

    (a) Establishment.--There is established in the Treasury of the 
United States the Tribal Government Lease Fund. Each Indian tribal 
government having a lease agreement under this Act shall have an 
account in such Fund.
    (b) Contents of Fund.--There shall be deposited in the appropriate 
accounts within the Fund the following:
            (1) Moneys appropriated to the accounts for payments in 
        connection with lease agreements under this Act.
            (2) Income and gains realized by the account from any 
        investment of excess funds, and the obligations or securities 
        comprising such investments within such account.
            (3) Any other receipts of such account.
    (c) Excess Funds Investment.--If the Secretary of the Interior 
determines that the amount of money in any such account exceeds the 
amount required for current needs, the Secretary of the Treasury, at 
the request of the Secretary of the Interior, may invest such amounts 
as the Secretary of the Treasury deems advisable in obligations of, or 
obligations guaranteed by, the Government of the United States, or in 
such other governmental or agency obligations or other securities of 
the United States as he deems appropriate.
    (d) Depository.--The Secretary of the Treasury may deposit moneys 
of the Fund with any Federal Reserve bank, any depository for public 
funds, or in such other places and in such manner as the Secretary of 
the Treasury deems appropriate.
    (e) Uses.--Moneys in each account within the Fund shall be 
administered by the Secretary in order--
            (1) to effect the payment, when due, of the principal of, 
        and any interest on, bonds issued by the tribal government 
        having such account in connection with a facility covered by a 
        lease agreement under this Act;
            (2) to redeem such bonds; and
            (3) to make payment of all expenses incurred by the Indian 
        tribal government in carrying out its duties with respect to 
        its account within the Fund.

SEC. 5. AUTHORIZATION OF APPROPRIATION TO THE FUND; APPROPRIATIONS.

    Moneys in such Fund, together with all moneys hereafter deposited 
in such Fund, are hereby appropriated for the purposes of this Act and 
shall remain available until expended. For fiscal year 1994, and each 
fiscal year thereafter, there are authorized to be appropriated, to 
each of the appropriate accounts in the Fund, such sums as may be 
necessary to make payments under lease agreements under this Act, and 
to carry out the other provisions of this Act.

SEC. 6. FULL FAITH AND CREDIT.

    Any bond issued by an Indian tribal government after the date of 
the enactment of this Act the proceeds of which are used for the 
construction of a facility covered by a lease agreement under this Act 
shall constitute general obligations of the United States of America 
backed by the full faith and credit of the United States of America.

SEC. 7. AUDIT OF TRANSACTIONS.

    (a) In General.--The Comptroller General of the United States is 
authorized to audit the operations of each of the accounts within the 
Fund in accordance with such rules and regulations as he may prescribe. 
Any such audit shall be conducted at the place or places where accounts 
of the Fund are normally kept. The representatives of the Comptroller 
General shall have access to all books, accounts, records, reports, 
files and other papers, things, or property belonging to, or in use by 
or in connection with the Fund, or the Indian tribal government which 
pertain to the financial transactions of the Fund and which are 
necessary to facilitate an audit. Such representatives shall be 
afforded full facilities for verifying transactions with the balances 
or securities held by depositories, fiscal agents, and custodians. All 
such books, accounts, records, reports, files, papers, things, and 
property shall remain in the possession and custody of the Fund, or the 
Indian tribal government, as the case may be.
    (b) Access to Information.--The representatives of the Comptroller 
General shall have access to all books, accounts, records, reports, 
files, and other papers, things, or property belonging to or in use by 
any person or entity which has entered into a financial transaction 
with or involving the Fund, or the Indian tribal government, under this 
Act, to the extent deemed necessary by the Comptroller General to 
facilitate any audit of financial transactions pursuant to subsection 
(a) of this section. Such representatives shall be afforded full 
facilities for verifying transactions with the balances or securities 
held by depositories, fiscal agents, and custodians. All such property 
of such person or entity shall, to the extent practicable, remain in 
the possession and custody of such person or entity.
    (c) Report.--The Comptroller General shall make a report of each 
such audit to the Congress. Such report shall contain all comments and 
information which the Comptroller General deems necessary to inform 
Congress of the financial operations and conditions of the Fund and any 
recommendations which he deems advisable. Such report shall indicate 
specifically and describe in detail any program, expenditure, or other 
financial transaction or undertaking observed in the course of such 
audit which the Comptroller General deems to have been carried on or 
made without lawful authority or which is inconsistent with the 
purposes and provisions of this Act. A copy of such report shall be 
furnished to the President, the Secretary and the appropriate Indian 
tribal governments under this Act at the time it is submitted to the 
Congress.
Indian Tribal Government Lease Agreement Act - Authorizes the Secretary of the Interior to enter into facility lease agreements with Indian tribal governments for use in carrying out essential governmental functions. 
Establishes in the Treasury the Tribal Government Lease Fund.
Indian Tribal Government Lease Agreement Act