H. R. 2399—13
The original principal amount of this Trust Fund shall be deter-
mined by the Tribe in consultation with the Secretary; subject
to the requirement that upon completion of all payments into the
Trust Funds, an amount equal to at least 1⁄3 of all State, local,
and private contributions made pursuant to the Settlement Agree-
ment shall have been paid into the Education Trust Fund. Income
from this Trust Fund shall be distributed in a manner consistent
with the terms of the Settlement Agreement. The principal of this
Trust Fund shall not be invaded or transferred to any other Trust
Fund, nor shall it be pledged or encumbered as security.
(g) SOCIAL SERVICES AND ELDERLY ASSISTANCE TRUST.—(1) The
Secretary shall establish and maintain a Catawba Social Services
and Elderly Assistance Trust Fund and, until the Tribe engages
an outside firm for investment management of this Trust Fund,
the Secretary shall manage, invest, and administer the Social Serv-
ices and Elderly Assistance Trust Fund. The original principal
amount of this Trust Fund shall be determined by the Tribe in
consultation with the Secretary.
(2) The income of this Trust Fund shall be periodically distrib-
uted to the Tribe to support social services programs, including
(but not limited to) housing, care of elderly, or physically or mentally
disabled Members, child care, supplemental health care, education,
cultural preservation, burial and cemetery maintenance, and oper-
ation of tribal government.
(3) The Tribe, in consultation with the Secretary, shall establish
eligibility criteria and procedures to carry out this subsection.
(h) PER CAPITA PAYMENT TRUST FUND.—(1) The Secretary shall
establish and maintain a Catawba Per Capita Payment Trust Fund
in an amount equal to 15 percent of the settlement funds paid
pursuant to section 5 of the Settlement Agreement. Until the Tribe
engages an outside firm for investment management of this Trust
Fund, the Secretary shall manage, invest, and administer the
Catawba Per Capita Payment Trust Fund.
(2) Each person (or their estate) whose name appears on the
final base membership roll of the Tribe published by the Secretary
pursuant to section 7(c) of this Act will receive a one-time, non-
recurring payment from this Trust Fund.
(3) The amount payable to each member shall be determined
by dividing the trust principal and any accrued interest thereon
by the number of Members on the final base membership roll.
(4)(A) Subject to the provisions of this paragraph, each enrolled
member who has reached the age of 21 years on the date the
final roll is published shall receive the payment on the date of
distribution, which shall be as soon as practicable after date of
publication of the final base membership roll. Adult Members shall
be paid their pro rata share of this Trust Fund on the date of
distribution unless they elect in writing to leave their pro rata
share in the Trust Fund, in which case such share shall not be
distributed.
(B) The pro rata share of adult Members who elect not to
withdraw their payment from this Trust Fund shall be managed,
invested and administered, together with the funds of Members
who have not attained the age of 21 years on the date the final
base membership roll is published, until such Member requests
in writing that their pro rata share be distributed, at which time
such Member’s pro rata share shall be paid, together with the
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H. R. 2399—14
net income of the Trust Fund allocable to such Member’s share
as of the date of distribution.
(C) No member may elect to have their pro rata share managed
by this Trust Fund for a period of more than 21 years after the
date of publication of the final base membership roll.
(5)(A) Subject to the provisions of this paragraph, the pro
rata share of any Member who has not attained the age of 21
years on the date the final base membership roll is published
shall be managed, invested and administered pursuant to the provi-
sions of this section until such Member has attained the age of
21 years, at which time such Member’s pro rata share shall be
paid, together with the net income of the Trust Fund allocable
to such Member’s share as of the date of payment. Such Members
shall be paid their pro rata share of this Trust Fund on the
date they attain 21 years of age unless they elect in writing to
leave their pro rata share in the Trust Fund, in which case such
share shall not be distributed.
(B) The pro rata share of such Members who elect not to
withdraw their payment from this Trust Fund shall be managed,
invested and administered, together with the funds of members
who have not attained the age of 21 years on the date the final
base membership roll is published, until such Member requests
in writing that their pro rata share be distributed, at which time
such Member’s pro rata share shall be paid, together with the
net income of the Trust Fund allocable to such Member’s share
as of the date of distribution.
(C) No Member may elect to have their pro rata share retained
and managed by this Trust Fund beyond the expiration of the
period of 21 years after the date of publication of the final base
membership roll.
(6) After payments have been made to all Members entitled
to receive payments, this Trust Fund shall terminate, and any
balance remaining in this Trust Fund shall be merged into the
Economic Development Trust Fund, the Education Trust Fund,
or the Social Services and Elderly Assistance Trust Fund, as the
Tribe may determine.
(i) DURATION OF TRUST FUNDS.—Subject to the provisions of
this section and with the exception of the Catawba Per Capita
Payment Trust Fund, the Trust Funds established in accordance
with this section shall continue in existence so long as the Tribe
exists and is recognized by the United States. The principal of
these Trust Funds shall not be invaded or distributed except as
expressly authorized in this Act or in the Settlement Agreement.
(j) TRANSFER
OF MONEY AMONG TRUST FUNDS.—The Tribe,
in consultation with the Secretary, shall have the authority to
transfer principal and accumulated income between Trust Funds
only as follows:
(1) Funds may be transferred among the Catawba Economic
Development Trust Fund, the Catawba Land Acquisition Trust
Fund, and the Catawba Social Services and Elderly Assistance
Trust Fund, and from any of those three Trust Funds into
the Catawba Education Trust Fund; except, that the mandatory
share of State, local, and private sector funds invested in the
original corpus of the Catawba Education Trust Fund shall
not be transferred to any other Trust Fund.
(2) Any Trust Fund, except for the Catawba Education
Trust Fund, may be dissolved by a vote of two-thirds of those
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H. R. 2399—15
Members eligible to vote, and the assets in such Trust Fund
shall be transferred to the remaining Trust Funds; except,
that (A) no assets shall be transferred from any of the Trust
Funds into the Catawba Per Capita Payment Trust Fund,
and (B) the mandatory share of State, local and private funds
invested in the original corpus of the Catawba Education Trust
Fund may not be transferred or used for any non-educational
purposes.
(3) The dissolution of any Trust Fund shall require the
approval of the Secretary pursuant to the Secretarial approval
provisions set forth in subsection (b)(5)(D) of this section.
(k) TRUST FUND ACCOUNTING.—(1) The Secretary shall account
to the Tribe periodically, and at least annually, for all Catawba
Trust Funds being managed and administered by the Secretary.
The accounting shall—
(A) identify the assets in which the Trust Funds have
been invested during the relevant period;
(B) report income earned during the period, distinguishing
current income and capital gains;
(C) indicate dates and amounts of distributions to the Tribe,
separately distinguishing current income, accumulated income,
and distributions of principal; and
(D) identify any invasions or repayments of principal during
the relevant period and record provisions the Tribe has made
for repayment or restoration of principal.
(2)(A) Any outside investment management firm engaged by
the Tribe shall account to the Tribe and separately to the Secretary
at periodic intervals, at least quarterly. Its accounting shall—
(i) identify the assets in which the Trust Funds have been
invested during the relevant period;
(ii) report income earned during the period, separating
current income and capital gains;
(iii) indicate dates and amounts of distributions to the
Tribe, distinguishing current income, accumulated income, and
distributions of principal; and
(iv) identify any invasions or repayments of principal dur-
ing the relevant period and record provisions the Tribe has
made for repayment or restoration of principal.
(B) Prior to distributing principal from any Trust Fund, the
investment management firm shall notify the Secretary of the pro-
posed distribution and the Tribe’s proposed use of such funds,
following procedures to be agreed upon by the investment manage-
ment firm, the Secretary, and the Tribe. The Secretary shall have
15 days within which to object in writing to any such invasion
of principal. Failure to object will be deemed approval of the
distribution.
(C) All Trust Funds held and managed by any investment
management firm shall be audited annually by a certified public
accounting firm approved by the Secretary, and a copy of the
annual audit shall be submitted to the Tribe and to the Secretary
within four months following the close of the Trust Funds’ fiscal
year.
(l) REPLACEMENT
OF INVESTMENT MANAGEMENT FIRM
AND
MODIFICATION
OF INVESTMENT MANAGEMENT PLAN.—The Tribe
shall not replace the investment management firm approved by
the Secretary without prior written notification to the Secretary
and approval by the Secretary of any investment management
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H. R. 2399—16
firm chosen by the Tribe as a replacement. Such Secretarial
approval shall be given or denied in accordance with the Secretarial
approval provisions contained in subsection (b)(5)(D) of this section.
The Tribe and its investment management firm shall also notify
the Secretary in writing of any revisions in the investment manage-
ment plan which materially increase investment risk or significantly
change the investment management plan, or the agreement, made
in consultation with the Secretary pursuant to which the outside
management firm was retained.
(m) TRUST FUNDS NOT COUNTED FOR CERTAIN PURPOSES; USE
AS MATCHING FUNDS.—None of the funds, assets, income, payments,
or distributions from the Trust Funds established pursuant to this
section shall at any time affect the eligibility of the Tribe or its
Members for, or be used as a basis for denying or reducing funds
to the Tribe or its Members under any Federal, State, or local
program. Distributions from these Trust Funds may be used as
matching funds, where appropriate, for Federal grants or loans.
SEC. 12. ESTABLISHMENT OF EXPANDED RESERVATION.
(a) EXISTING RESERVATION.—The Secretary is authorized to
receive from the State, by such transfer document as the Secretary
and the State shall approve, all rights, title, and interests of the
State in and to the Existing Reservation to be held by the United
States as trustee for the Tribe, and, effective on the date of such
transfer, the obligation of the State as trustee for the Tribe with
respect to such land shall cease.
(b) EXPANDED RESERVATION.—(1) The Existing Reservation
shall be expanded in the manner prescribed by the Settlement
Agreement.
(2) Within 180 days following the date of the enactment of
this Act, the Secretary, after consulting with the Tribe, shall
ascertain the boundaries and area of the existing reservation. In
addition, the Secretary, after consulting with the Tribe, shall engage
a professional land planning firm as provided in the Settlement
Agreement. The Secretary shall bear the cost of all services rendered
pursuant to this section.
(3) The Tribe may identify, purchase and request that the
Secretary place into reservation status, tracts of lands in the man-
ner prescribed by the Settlement Agreement. The Tribe may not
request that any land be placed in reservation status, unless those
lands were acquired by the Tribe and qualify for reservation status
in full compliance with the Settlement Agreement, including section
14 thereof.
(4) The Secretary shall bear the cost of all title examinations,
preliminary subsurface soil investigations, and level one environ-
mental audits to be performed on each parcel contemplated for
purchase by the Tribe or the Secretary for the Expanded Reserva-
tion, and shall report the results to the Tribe. The Secretary’s
or the Tribe’s payment of any option fee and the purchase price
may be drawn from the Catawba Land Acquisition Trust Fund.
(5) The total area of the Expanded Reservation shall be limited
to 3,000 acres, including the Existing Reservation, but the Tribe
may exclude from this limit up to 600 acres of additional land
under the conditions set forth in the Settlement Agreement. The
Tribe may seek to have the permissible area of the Expanded
Reservation enlarged by an additional 600 acres as set forth in
the Settlement Agreement.
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