II 

109TH CONGRESS 

1ST SESSION S. 1484 

To amend the Fallon Paiute Shoshone Indian Tribes Water Rights Settlement 

Act of 1990. 

IN THE SENATE OF THE UNITED STATES 

JULY 26, 2005 

Mr. REID (for himself and Mr. DORGAN) introduced the following bill; which 

was read twice, considered, read the third time, and passed 

A BILL

To amend the Fallon Paiute Shoshone Indian Tribes Water 

Rights Settlement Act of 1990.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. FALLON PAIUTE SHOSHONE TRIBES SETTLE4 MENT. 

5 (a) SETTLEMENT FUND.—Section 102 of the Fallon 

6 Paiute Shoshone Indian Tribes Water Rights Settlement 

7 Act of 1990 (Public Law 101–618; 104 Stat. 3289) is 

8 amended— 

9 (1) in subsection (C)— 

10 (A) in paragraph (1)— 
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1 (i) by striking the matter preceding 

2 subparagraph (a) and inserting the fol3 lowing: ‘‘Notwithstanding any conflicting 

4 provision in the original Fund plan during 

5 Fund fiscal year 2006 or any subsequent 

6 Fund fiscal year, 6 percent of the average 

7 quarterly market value of the Fund during 

8 the immediately preceding 3 Fund fiscal 

9 years (referred to in this title as the ‘An10 nual 6 percent Amount’), plus any unex11 pended and unobligated portion of the An12 nual 6 percent Amount from any of the 3 

13 immediately preceding Fund fiscal years 

14 that are subsequent to Fund fiscal year 

15 2005, less any negative income that may 

16 accrue on that portion, may be expended 

17 or obligated only for the following pur18 poses:’’; and 

19 (ii) by adding at the end the fol20 lowing: 

21 ‘‘(g) Fees and expenses incurred in connection 

22 with the investment of the Fund, for investment 

23 management, investment consulting, custodianship, 

24 and other transactional services or matters.’’; and 
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1 (B) by striking paragraph (4) and insert2 ing the following: 

3 ‘‘(4) No monies from the Fund other than the 

4 amounts authorized under paragraphs (1) and (3) may be 

5 expended or obligated for any purpose. 

6 ‘‘(5) Notwithstanding any conflicting provision in the 

7 original Fund plan, during Fund fiscal year 2006 and dur8 ing each subsequent Fund fiscal year, not more than 20 

9 percent of the Annual 6 percent Amount for the Fund fis10 cal year (referred to in this title as the ‘Annual 1.2 percent 

11 Amount’) may be expended or obligated under paragraph 

12 (1)(c) for per capita distributions to tribal members, ex13 cept that during each Fund fiscal year subsequent to 

14 Fund fiscal year 2006, any unexpended and unobligated 

15 portion of the Annual 1.2 percent Amount from any of 

16 the 3 immediately preceding Fund fiscal years that are 

17 subsequent to Fund fiscal year 2005, less any negative 

18 income that may accrue on that portion, may also be ex19 pended or obligated for such per capita payments.’’; and 

20 (2) in subsection (D), by adding at the end the 

21 following: ‘‘Notwithstanding any conflicting provi22 sion in the original Fund plan, the Fallon Business 

23 Council, in consultation with the Secretary, shall 

24 promptly amend the original Fund plan for purposes 

25 of conforming the Fund plan to this title and mak-
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1 ing nonsubstantive updates, improvements, or cor2 rections to the original Fund plan.’’. 

3 (b) DEFINITIONS.—Section 107 of the Fallon Paiute 

4 Shoshone Indian Tribes Water Rights Settlement Act of 

5 1990 (Public Law 101–618; 104 Stat. 3293) is amend6 ed— 

7 (1) by redesignating subsections (D), (E), (F), 

8 and (G) as subsections (F), (G), (H), and (I), re9 spectively; and 

10 (2) by striking subsections (B) and (C) and in11 serting the following: 

12 ‘‘(B) the term ‘Fund fiscal year’ means a fiscal 

13 year of the Fund (as defined in the Fund plan); 

14 ‘‘(C) the term ‘Fund plan’ means the plan es15 tablished under section 102(F), including the origi16 nal Fund plan (the ‘Plan for Investment, Manage17 ment, Administration and Expenditure dated De18 cember 20, 1991’) and all amendments of the Fund 

19 plan under subsection (D) or (F)(1) of section 102; 

20 ‘‘(D) the term ‘income’ means the total net re21 turn from the investment of the Fund, consisting of 

22 all interest, dividends, realized and unrealized gains 

23 and losses, and other earnings, less all related fees 

24 and expenses incurred for investment management, 
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1 investment consulting, custodianship and trans2 actional services or matters; 

3 ‘‘(E) the term ‘principal’ means the total 

4 amount appropriated to the Fallon Paiute Shoshone 

5 Tribal Settlement Fund under section 102(B);’’.

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