(b) USE OF INITIAL PAYMENT FUNDS.—Of the set-
tlement funds described in subsections (a) and (b) of sec-
tion 5—
(1) 25 percent shall be—
(A) reserved by the Spokane Business 
Council; and 
(B) used for discretionary purposes of gen-
eral benefit to all members of the Spokane 
Tribe; and 
(2) 75 percent shall be used by the Spokane 
Business Council to carry out—
(A) a resource development program; 
(B) a credit program; 
(C) a scholarship program; or 
(D) a reserve, investment, and economic 
development program. 
(c) USE
OF ANNUAL PAYMENT FUNDS.—Annual 
payments made to the Spokane Tribe under section 5(c) 
may be used or invested by the Spokane Tribe in the same 
manner and for the same purposes as other tribal govern-
mental funds. 
(d) APPROVAL
BY SECRETARY.—Notwithstanding 
any other provision of law—
(1) the approval of the Secretary of the Treas-
ury or the Secretary of the Interior for any payment,
distribution, or use of the principal, interest, or in-
come generated by any settlement funds transferred 
or paid to the Spokane Tribe under this Act shall 
not be required; and 
(2) the Secretary of the Treasury and the Sec-
retary of the Interior shall have no trust responsi-
bility for the investment, supervision, administration, 
or expenditure of those funds after the date on 
which the funds are transferred to or paid to the 
Spokane Tribe. 
(e) TREATMENT
OF FUNDS
FOR CERTAIN PUR-
POSES.—The payments and distributions of any portion 
of the principal, interest, and income generated by the set-
tlement funds described in section 5 shall be treated in 
the same manner as payments or distributions under sec-
tion 6 of the Saginaw Chippewa Indian Tribe of Michigan 
Distribution of Judgment Funds Act (Public Law 99–346; 
100 Stat. 677). 
(f) TRIBAL AUDIT.—After the date on which the set-
tlement funds described in section 5 are transferred or 
paid to the Spokane Tribe, the funds—
(1) shall be considered to be Spokane Tribe 
governmental funds; and 
(2) shall be subject to an annual tribal govern-
mental audit.
SEC. 7. REPAYMENT CREDIT. 
(a) IN GENERAL.—For the first fiscal year that be-
gins after the date of enactment of this Act, and for each 
subsequent fiscal year in which annual payments are made 
under this Act, the Administrator shall deduct from the 
interest payable to the Secretary of the Treasury from net 
proceeds (as defined in section 13 of the Federal Columbia 
River Transmission System Act (16 U.S.C. 838k)), a per-
centage of the payment made to the Spokane Tribe for 
the preceding fiscal year. 
(b) CALCULATION.—The percentage deducted under 
subsection (a) shall be calculated and adjusted to ensure 
that the Bonneville Power Administration receives a de-
duction comparable to that which the Bonneville Power 
Administration receives for payments made to the Confed-
erated Tribes of the Colville Reservation under to the Con-
federated Tribes Act. 
(c) CREDITING.—
(1) DEDUCTIONS.—
(A) IN GENERAL.—Except as provided in 
subparagraph (B), each deduction made under 
this section shall be—
(i) credited to the interest payments 
otherwise payable by the Administrator to 
the Secretary of the Treasury during the
fiscal year in which the deduction is made; 
and 
(ii) allocated pro rata to all interest 
payments on debt associated with the gen-
eration function of the Federal Columbia 
River Power System that are due during 
that fiscal year. 
(B) EXCEPTION.—If, for any fiscal year, 
the amount of a deduction described in sub-
paragraph (A) is greater than the amount of in-
terest due on debt associated with the genera-
tion function for the fiscal year, the amount of 
the deduction that exceeds the interest due on 
debt associated with the generation function 
shall be allocated pro rata to all other interest 
payments due during that fiscal year. 
(2) OTHER PROGRAMS.—To the extent that a 
deduction described in paragraph (1) exceeds the 
amount of interest described in that paragraph, the 
deduction shall be applied as a credit against any 
other payments that the Administrator makes to the 
Secretary of the Treasury. 
SEC. 8. SATISFACTION OF CLAIMS. 
Payment by the Administrator under section 5 con-
stitutes full satisfaction of the claim of Spokane Tribe to
a fair share of the annual hydropower revenues generated 
by the Grand Coulee Dam project from June 29, 1940, 
through the fiscal year preceding the fiscal year in which 
this Act is enacted. 
SEC. 9. AUTHORIZATION OF APPROPRIATIONS. 
There are authorized to be appropriated such sums 
as are necessary to carry out this Act.
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