(1) Bay Mills Community College.
(2) Blackfeet Community College.
(3) Cheyenne River Community College.
(4) D–Q University.
(5) Dullknife Memorial College.
(6) Fond Du Lac Community College.
(7) Fort Belknap Community College.
(8) Fort Berthold Community College.
(9) Fort Peck Community College.
(10) LacCourte Orielles Ojibwa Community
College.
(11) Little Big Horn Community College.
(12) Little Hoop Community College.
(13) Nebraska Indian Community College.
(14) Northwest Indian College.
(15) Oglala Lakota College.
(16) Salish Kootenai College.
(17) Sinte Gleska University.
(18) Sisseton Wahpeton Community College.
(19) Standing Rock College.
(20) Stonechild Community College.
(21) Turtle Mountain Community College.
(22) Navajo Community College.
(23) United Tribes Technical College.
(24) Southwest Indian Polytechnic Institute.
(25) Institute of American Indian and Alaska
Native Culture and Arts Development.
(26) Crownpoint Institute of Technology.
(27) Haskell Indian Junior College.
(28) Leech Lake Tribal College.
(29) College of the Menominee Nation.
SEC. 3. LAND-GRANT STATUS FOR 1994 INSTITUTIONS.
(a) IN GENERAL.—1994 Institutions shall be consid-
ered land-grant colleges established for the benefit of agri-
culture and the mechanic arts in accordance with the pro-
visions of the Act of July 2, 1862 (12 Stat. 503; 7 U.S.C.
301–305, 307, and 308) except that this section shall not
apply to the Act of May 8, 1914 (38 Stat. 372, Chapter
79; 7 U.S.C. 341 et seq.) or the Act of March 2, 1887
(24 Stat. 440, Chapter 314; 7 U.S.C. 361a et seq.).
(b) AUTHORIZATION OF APPROPRIATIONS.—In lieu
of extending to 1994 Institutions, the provisions of the
Act of July 2, 1862 (12 Stat. 503, chapter 130; 7 U.S.C.
301 et seq.), there is authorized to be appropriated
$23,000,000 to establish an endowment pursuant to sub-
section (c) for 1994 Institutions. Amounts appropriated
pursuant to this section shall be held and considered to
have been granted to 1994 Institutions to establish an En-
dowment.
(c) ENDOWMENT.—
(1) IN GENERAL.—In accordance with this sec-
tion, the Secretary of the Treasury shall establish a
1994 Institutions Endowment Fund (referred to in
this subsection as the ‘‘endowment fund’’). The Sec-
retary may enter into such agreements as are nec-
essary to carry out this section.
(2) DEPOSIT TO THE ENDOWMENT FUND.—The
Secretary shall deposit in the endowment fund
any—
(A) amounts made available by appropria-
tions pursuant to subsection (c) (referred to in
this subsection as the ‘‘endowment fund cor-
pus’’); and
(B) interest earned on the endowment
fund corpus.
(3) INVESTMENTS.—The Secretary shall invest
the endowment fund corpus and income in interest-
bearing obligations of the United States.
(4) WITHDRAWALS AND EXPENDITURES.—The
Secretary may not make a withdrawal or expendi-
ture from the endowment fund corpus. On the termi-
nation of each fiscal year, the Secretary shall with-
draw the amount of income from the endowment
fund for the fiscal year, and after making adjust-
ments for the cost of administering the endowment
fund, distribute the adjusted income as follows:
(A) 60 percent of the adjusted income
shall be distributed among the 1994 Institu-
tions on a pro rata basis. The proportionate
share of the adjusted income received by a 1994
Institution under this subparagraph shall be
based on the Indian student count (as defined
in section 390(3) of the Carl D. Perkins Voca-
tional Education Act (20 U.S.C. 2397h(3) or as
defined in section 2(a)(7) of the Tribally Con-
trolled Community College Assistance Act (25
U.S.C. 1801)) for each Institution for the fiscal
year.
(B) 40 percent of the adjusted income
shall be distributed in equal shares to the 1994
Institutions.
SEC. 4. APPROPRIATIONS.
(a) AUTHORIZATION OF APPROPRIATIONS.—
(1) IN GENERAL.—For each fiscal year, there
are authorized to be appropriated to the Department
of the Treasury an amount equal to—
(A) $50,000; multiplied by
(B) the number of 1994 Institutions.
(2) PAYMENTS.—For each fiscal year, the Sec-
retary of the Treasury shall pay to the treasurer of
each 1994 Institution an amount equal to—
(A) the total amount made available by ap-
propriations pursuant to paragraph (1); divided
by
(B) the number of 1994 Institutions.
(3) USE
OF
FUNDS; REQUIREMENTS.—The
amounts authorized to be appropriated under this
subsection shall be used in the same manner as is
prescribed for colleges under the Act of August 30,
1890 (26 Stat. 417, chapter 841; 7 U.S.C. 322 et
seq.), and, except as otherwise provided in this sub-
section, the requirements of such Act shall apply to
1994 Institutions.
(b) AUTHORIZATION OF APPROPRIATIONS FOR COOP-
ERATIVE AGREEMENTS.—Section 3 of the Act of May 8,
1914 (38 Stat. 373, chapter 79; 7 U.S.C. 343) is amend-
ed—
(1) in subsection (b), by adding at the end the
following new paragraph:
‘‘(3) There is authorized to be appropriated for
the fiscal year ending June 30, 1995, and for each
fiscal year thereafter, for payment on behalf of the
1994 Institutions, $5,000,000 for the purposes set