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[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 2387 Introduced in Senate (IS)]

113th CONGRESS
  2d Session
                                S. 2387

 To amend the Claims Resolution Act of 2010 to authorize the Secretary 
of the Interior to contract with eligible Indian tribes to manage land 
 buy-back programs, to require that certain amounts be deposited into 
           interest bearing accounts, and for other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                              May 22, 2014

   Mr. Walsh introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL

 
 To amend the Claims Resolution Act of 2010 to authorize the Secretary 
of the Interior to contract with eligible Indian tribes to manage land 
 buy-back programs, to require that certain amounts be deposited into 
           interest bearing accounts, and for other purposes.

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

SECTION 1. TRIBAL LAND BUY-BACK PROGRAMS.

    Section 101(e) of the Claims Resolution Act of 2010 (Public Law 
111-291; 124 Stat. 3067) is amended by adding at the end the following:
            ``(6) Tribal land buy-back programs.--The Secretary may 
        enter into contracts under the Indian Self-Determination and 
        Education Assistance Act (25 U.S.C. 450 et seq.) with any 
        eligible Indian tribe to carry out activities related to that 
        Indian tribe under the Land Consolidation Program.''.

SEC. 2. INTEREST BEARING ACCOUNT.

    Section 101(e)(1)(C) of the Claims Resolution Act of 2010 (Public 
Law 111-291; 124 Stat. 3067) is amended by adding at the end the 
following:
                            ``(iii) Interest bearing account.--
                                    ``(I) In general.--Not later than 
                                90 days after the date of the enactment 
                                of this clause, the Secretary shall 
                                invest the amounts remaining in the 
                                Trust Land Consolidation Fund into 
                                public debt securities with maturities 
                                suitable to the needs of that Fund, as 
                                determined by the Secretary of the 
                                Treasury, and bearing interest at rates 
                                determined by the Secretary of the 
                                Treasury, taking into consideration 
                                current market yields on outstanding 
                                marketable obligations of the United 
                                States of comparable maturity. Once the 
                                amounts are invested pursuant to this 
                                clause, the funds shall be deemed to 
                                have been used to conduct the Land 
                                Consolidation Program and for other 
                                costs associated with the Settlement 
                                for the purposes of subparagraph (B).
                                    ``(II) Use of amounts earned in 
                                interest.--Funds invested under this 
                                clause and interest on those funds 
                                shall be used for the purposes for 
                                which the Trust Land Consolidation Fund 
                                was established.''.

SEC. 3. TIMING OF PAYMENTS AND RESPONSIBILITY.

    Section 101(j)(3) of the Claims Resolution Act of 2010 (Public Law 
111-291; 124 Stat. 3069) is amended--
            (1) by striking ``Payments'' and inserting ``Payments and 
        responsibility'';
            (2) by striking ``The payments'' and inserting the 
        following:
                    ``(A) In general.--The payments''; and
            (3) by adding at the end the following:
                    ``(B) Responsibility and completion date.--The 
                Secretary of the Interior shall remain responsible for 
                ensuring that all payments under this section are made 
                to beneficiaries by not later than 1 year after the 
                date of the enactment of this subparagraph.''.
                                 <all>
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