I 

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. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 
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1 SECTION 1. FALLON PAIUTE SHOSHONE TRIBES SETTLE2 MENT. 

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

4 Paiute Shoshone Indian Tribes Water Rights Settlement 

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

6 amended— 

7 (1) in subsection (C)— 

8 (A) in paragraph (1)— 

9 (i) by striking the matter preceding 

10 subparagraph (a) and inserting the fol11 lowing: ‘‘Notwithstanding any conflicting 

12 provision in the original Fund plan during 

13 Fund fiscal year 2006 or any subsequent 

14 Fund fiscal year, 6 percent of the average 

15 quarterly market value of the Fund during 

16 the immediately preceding 3 Fund fiscal 

17 years (referred to in this title as the ‘An18 nual 6 percent Amount’), plus any unex19 pended and unobligated portion of the An20 nual 6 percent Amount from any of the 3 

21 immediately preceding Fund fiscal years 

22 that are subsequent to Fund fiscal year 

23 2005, less any negative income that may 

24 accrue on that portion, may be expended 

25 or obligated only for the following pur26 poses:’’; and 
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1 (ii) by adding at the end the fol2 lowing: 

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

4 with the investment of the Fund, for investment 

5 management, investment consulting, custodianship, 

6 and other transactional services or matters.’’; and 

7 (B) by striking paragraph (4) and insert8 ing the following: 

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

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

11 expended or obligated for any purpose. 

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

13 original Fund plan, during Fund fiscal year 2006 and dur14 ing each subsequent Fund fiscal year, not more than 20 

15 percent of the Annual 6 percent Amount for the Fund fis16 cal year (referred to in this title as the ‘Annual 1.2 percent 

17 Amount’) may be expended or obligated under paragraph 

18 (1)(c) for per capita distributions to tribal members, ex19 cept that during each Fund fiscal year subsequent to 

20 Fund fiscal year 2006, any unexpended and unobligated 

21 portion of the Annual 1.2 percent Amount from any of 

22 the 3 immediately preceding Fund fiscal years that are 

23 subsequent to Fund fiscal year 2005, less any negative 

24 income that may accrue on that portion, may also be ex25 pended or obligated for such per capita payments.’’; and 
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1 (2) in subsection (D), by adding at the end the 

2 following: ‘‘Notwithstanding any conflicting provi3 sion in the original Fund plan, the Fallon Business 

4 Council, in consultation with the Secretary, shall 

5 promptly amend the original Fund plan for purposes 

6 of conforming the Fund plan to this title and mak7 ing nonsubstantive updates, improvements, or cor8 rections to the original Fund plan.’’. 

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

10 Shoshone Indian Tribes Water Rights Settlement Act of 

11 1990 (Public Law 101–618; 104 Stat. 3293) is amend12 ed— 

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

14 and (G) as subsections (F), (G), (H), and (I), re15 spectively; and 

16 (2) by striking subsections (B) and (C) and in17 serting the following: 

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

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

20 ‘‘(C) the term ‘Fund plan’ means the plan es21 tablished under section 102(F), including the origi22 nal Fund plan (the ‘Plan for Investment, Manage23 ment, Administration and Expenditure dated De24 cember 20, 1991’) and all amendments of the Fund 

25 plan under subsection (D) or (F)(1) of section 102; 
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1 ‘‘(D) the term ‘income’ means the total net re2 turn from the investment of the Fund, consisting of 

3 all interest, dividends, realized and unrealized gains 

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

5 and expenses incurred for investment management, 

6 investment consulting, custodianship and trans7 actional services or matters; 

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

9 amount appropriated to the Fallon Paiute Shoshone 

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

Passed the Senate July 26, 2005. 

Attest: EMILY J. REYNOLDS, 

Secretary.