IB
Union Calendar No. 79
106TH CONGRESS
1ST SESSION
H. R. 747
[Report No. 106–140]
To protect the permanent trust funds of the State of Arizona from erosion
due to inflation and modify the basis on which distributions are made
from those funds.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY 11, 1999
Mr. STUMP (for himself, Mr. KOLBE, Mr. PASTOR, Mr. HAYWORTH, Mr.
SALMON, and Mr. SHADEGG) introduced the following bill; which was re-
ferred to the Committee on Resources
MAY 13, 1999
Committed to the Committee of the Whole House on the State of the Union
and ordered to be printed
A BILL
To protect the permanent trust funds of the State of Arizona
from erosion due to inflation and modify the basis on
which distributions are made from those funds.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Arizona Statehood and
Enabling Act Amendments of 1999’’.
SEC. 2. PROTECTION OF TRUST FUNDS OF STATE OF ARI-
ZONA.
(a) IN GENERAL.—Section 28 of the Act of June 20,
1910 (36 Stat. 574, chapter 310) is amended in the first
paragraph by adding at the end the following: ‘‘The trust
funds (including all interest, dividends, other income, and
appreciation in the market value of assets of the funds)
shall be prudently invested on a total rate of return basis.
Distributions from the trust funds shall be made as pro-
vided in Article 10, Section 7 of the Constitution of the
State of Arizona.’’.
(b) CONFORMING AMENDMENTS.—
(1) Section 25 of the Act of June 20, 1910 (36
Stat. 573, chapter 310), is amended in the proviso
of the second paragraph by striking ‘‘the income
therefrom only to be used’’ and inserting ‘‘distribu-
tions from which shall be made in accordance with
the first paragraph of section 28 and shall be used’’.
(2) Section 27 of the Act of June 20, 1910 (36
Stat. 574, chapter 310), is amended by striking ‘‘the
interest of which only shall be expended’’ and insert-
ing ‘‘distributions from which shall be made in ac-
cordance with the first paragraph of section 28 and
shall be expended’’.
SEC. 3. USE OF MINERS’ HOSPITAL ENDOWMENT FUND FOR
ARIZONA PIONEERS’ HOME.
(a) IN GENERAL.—Section 28 of the Act of June 20,
1910 (36 Stat. 574, chapter 310) is amended in the sec-
ond paragraph by inserting before the period at the end
the following: ‘‘, except that amounts in the Miners’ Hos-
pital Endowment Fund may be used for the benefit of the
Arizona Pioneers’ Home’’.
(b) EFFECTIVE DATE.—The amendment made by
subsection (a) shall be deemed to have taken effect on
June 20, 1910.
SEC. 4. CONSENT OF CONGRESS TO AMENDMENTS TO CON-
STITUTION OF STATE OF ARIZONA.
Congress consents to the amendments to the Con-
stitution of the State of Arizona proposed by Senate Con-
current Resolution 1007 of the 43rd Legislature of the
State of Arizona, Second Regulator Session, 1998, entitled
‘‘Senate Concurrent Resolution requesting the Secretary
of State to return Senate Concurrent Resolution 1018,
Forty-Third Legislature, First Regular Session, to the
Legislature and submit the Proposition contained in Sec-
tions 3, 4, and 5 of this Resolution of the proposed amend-
ments to Article IX, Section 7, Article X, Section 7, and
Article XI, Section 8, Constitution of Arizona, to the vot-
ers; relating to investment of State monies’’, approved by
the voters of the State of Arizona on November 3, 1998.
Union Calendar No. 79
106TH CONGRESS
1ST SESSION
H. R. 747
[Report No. 106–140]
A BILL
To protect the permanent trust funds of the State
of Arizona from erosion due to inflation and
modify the basis on which distributions are made
from those funds.
MAY 13, 1999
Committed to the Committee of the Whole House on the
State of the Union and ordered to be printed