H. R. 4833—2
Settlement Act (85 Stat. 688), which is recognized as eligible
for the special programs and services provided by the United
States to Indians because of their status as Indians.
(3) The term ‘‘Secretary’’ means the Secretary of the
Interior.
(4) The term ‘‘Office’’ means the Office of Special Trustee
for American Indians established by section 302.
(5) The term ‘‘Bureau’’ means the Bureau of Indian Affairs
within the Department of the Interior.
(6) The term ‘‘Department’’ means the Department of the
Interior.
TITLE I—RECOGNITION OF TRUST
RESPONSIBILITY
SEC. 101. AFFIRMATIVE ACTION REQUIRED.
The first section of the Act of June 24, 1938 (25 U.S.C. 162a),
is amended by adding at the end the following new subsection:
‘‘(d) The Secretary’s proper discharge of the trust responsibil-
ities of the United States shall include (but are not limited to)
the following:
‘‘(1) Providing adequate systems for accounting for and
reporting trust fund balances.
‘‘(2) Providing adequate controls over receipts and disburse-
ments.
‘‘(3) Providing periodic, timely reconciliations to assure the
accuracy of accounts.
‘‘(4) Determining accurate cash balances.
‘‘(5) Preparing and supplying account holders with periodic
statements of their account performance and with balances
of their account which shall be available on a daily basis.
‘‘(6) Establishing consistent, written policies and procedures
for trust fund management and accounting.
‘‘(7) Providing adequate staffing, supervision, and training
for trust fund management and accounting.
‘‘(8) Appropriately managing the natural resources located
within the boundaries of Indian reservations and trust lands.’’.
SEC. 102. RESPONSIBILITY OF SECRETARY TO ACCOUNT FOR THE
DAILY AND ANNUAL BALANCES OF INDIAN TRUST FUNDS.
(a) REQUIREMENT TO ACCOUNT.—The Secretary shall account
for the daily and annual balance of all funds held in trust by
the United States for the benefit of an Indian tribe or an individual
Indian which are deposited or invested pursuant to the Act of
June 24, 1938 (25 U.S.C. 162a).
(b) PERIODIC STATEMENT OF PERFORMANCE.—Not later than
20 business days after the close of a calendar quarter, the Secretary
shall provide a statement of performance to each Indian tribe and
individual with respect to whom funds are deposited or invested
pursuant to the Act of June 24, 1938 (25 U.S.C. 162a). The state-
ment, for the period concerned, shall identify—
(1) the source, type, and status of the funds;
(2) the beginning balance;
(3) the gains and losses;
(4) receipts and disbursements; and
(5) the ending balance.
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(c) ANNUAL AUDIT.—The Secretary shall cause to be conducted
an annual audit on a fiscal year basis of all funds held in trust
by the United States for the benefit of an Indian tribe or an
individual Indian which are deposited or invested pursuant to the
Act of June 24, 1938 (25 U.S.C. 162a), and shall include a letter
relating to the audit in the first statement of performance provided
under subsection (b) after the completion of the audit.
SEC. 103. PAYMENT OF INTEREST ON INDIVIDUAL INDIAN MONEY
ACCOUNTS.
(a) PAYMENT
OF INTEREST.—The first section of the Act of
February 12, 1929 (25 U.S.C. 161a), is amended—
(1) by striking out ‘‘That all’’ and inserting in lieu thereof
‘‘That (a) all’’; and
(2) by adding after subsection (a) (as designated by para-
graph (1) of this subsection) the following:
‘‘(b) All funds held in trust by the United States and carried
in principal accounts on the books of the United States Treasury
to the credit of individual Indians shall be invested by the Secretary
of the Treasury, at the request of the Secretary of the Interior,
in public debt securities with maturities suitable to the needs
of the fund involved, as determined by the Secretary of the Interior,
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 com-
parable securities.’’.
(b) WITHDRAWAL AUTHORITY.—The second sentence of sub-
section (a) of the first section of the Act of June 24, 1938 (25
U.S.C. 162a), is amended by inserting ‘‘to withdraw from the United
States Treasury and’’ after ‘‘prescribe,’’.
(c) TECHNICAL CORRECTION.—The second subsection (b) of the
first section of the Act of June 24, 1938 (25 U.S.C. 162a), as
added by section 302 of Public Law 101–644 (104 Stat. 4667),
is hereby redesignated as subsection (c).
(d) EFFECTIVE DATE.—The amendment made by subsection (a)
shall apply to interest earned on amounts deposited or invested
on or after the date of the enactment of this Act.
SEC. 104. AUTHORITY FOR PAYMENT OF CLAIMS FOR INTEREST
OWED.
The Secretary shall make payments to an individual Indian
in full satisfaction of any claim of such individual for interest
on amounts deposited or invested on behalf of such individual
before the date of enactment of this Act retroactive to the date
that the Secretary began investing individual Indian monies on
a regular basis, to the extent that the claim is identified—
(1) by a reconciliation process of individual Indian money
accounts, or
(2) by the individual and presented to the Secretary with
supporting documentation, and is verified by the Secretary
pursuant 
to 
the 
Department’s 
policy 
for 
addressing
accountholder losses.
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TITLE II—INDIAN TRUST FUND
MANAGEMENT PROGRAM
SEC. 201. PURPOSE.
The purpose of this title is to allow tribes an opportunity
to manage tribal funds currently held in trust by the United States
and managed by the Secretary through the Bureau, that, consistent
with the trust responsibility of the United States and the principles
of self-determination, will—
(1) give Indian tribal governments greater control over
the management of such trust funds; or
(2) otherwise demonstrate how the principles of self-deter-
mination can work with respect to the management of such
trust funds, in a manner consistent with the trust responsibility
of the United States.
SEC. 202. VOLUNTARY WITHDRAWAL FROM TRUST FUNDS PROGRAM.
(a) IN GENERAL.—An Indian tribe may, in accordance with
this section, submit a plan to withdraw some or all funds held
in trust for such tribe by the United States and managed by
the Secretary through the Bureau.
(b) APPROVAL OF PLAN.—The Secretary shall approve such plan
within 90 days of receipt and when approving the plan, the Sec-
retary shall obtain the advice of the Special Trustee or prior to
the appointment of such Special Trustee, the Director of the Office
of Trust Fund Management within the Bureau. Such plan shall
meet the following conditions:
(1) Such plan has been approved by the appropriate Indian
tribe and is accompanied by a resolution from the tribal govern-
ing body approving the plan.
(2) The Secretary determines such plan to be reasonable
after considering all appropriate factors, including (but not
limited to) the following:
(A) The capability and experience of the individuals
or institutions that will be managing the trust funds.
(B) The protection against substantial loss of principal.
(c) DISSOLUTION OF TRUST RESPONSIBILITY.—Beginning on the
date funds are withdrawn pursuant to this section, any trust respon-
sibility or liability of the United States with respect to such funds
shall cease except as provided for in section 207 of this title.
SEC. 203. JUDGMENT FUNDS.
(a) IN GENERAL.—The Secretary is authorized to approve plans
under section 202 of this title for the withdrawal of judgment
funds held by the Secretary.
(b) LIMITATION.—Only such funds held by the Secretary under
the terms of the Indian Judgment Funds Use or Distribution Act
(25 U.S.C. 1401) or an Act of Congress which provides for the
secretarial management of such judgment funds shall be included
in such plans.
(c) SECRETARIAL DUTIES.—In approving such plans, the Sec-
retary shall ensure—
(1) that the purpose and use of the judgment funds identi-
fied in the previously approved judgment fund plan will con-
tinue to be followed by the Indian tribe in the management
of the judgment funds; and
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(2) that only funds held for Indian tribes may be withdrawn
and that any funds held for individual tribal members are
not to be included in the plan.
SEC. 204. TECHNICAL ASSISTANCE.
The Secretary shall—
(1) directly or by contract, provide Indian tribes with tech-
nical assistance in developing, implementing, and managing
Indian trust fund investment plans; and
(2) among other things, ensure that legal, financial, and
other expertise of the Department of the Interior has been
made fully available in an advisory capacity to the Indian
tribes to assist in the development, implementation, and
management of investment plans.
SEC. 205. GRANT PROGRAM.
(a) GENERAL AUTHORITY.—The Secretary is authorized to award
grants to Indian tribes for the purpose of developing and implement-
ing plans for the investment of Indian tribal trust funds.
(b) USE OF FUNDS.—The purposes for which funds provided
under this section may be used include (but are not limited to)—
(1) the training and education of employees responsible
for monitoring the investment of trust funds;
(2) the building of tribal capacity for the investment and
management of trust funds;
(3) the development of a comprehensive tribal investment
plan;
(4) the implementation and management of tribal trust
fund investment plans; and
(5) such other purposes related to this title that the Sec-
retary deems appropriate.
SEC. 206. RETURN OF WITHDRAWN FUNDS.
Subject to such conditions as the Secretary may prescribe,
any Indian tribe which has withdrawn trust funds may choose
to return any or all of the trust funds such tribe has withdrawn
by notifying the Secretary in writing of its intention to return
the funds to the control and management of the Secretary.
SEC. 207. SAVINGS PROVISION.
By submitting or approving a plan under this title, neither
the tribe nor the Secretary shall be deemed to have accepted the
account balance as accurate or to have waived any rights regarding
such balance and to seek compensation.
SEC. 208. REPORT TO CONGRESS.
The Secretary shall, beginning one year after the date of the
enactment of this Act, submit an annual report to the Committee
on Natural Resources of the House of Representatives and the
Committee on Indian Affairs of the Senate on the implementation
of programs under this title. Such report shall include recommenda-
tions (if any) for changes necessary to better implement the purpose
of this title.
SEC. 209. REGULATIONS.
(a) IN GENERAL.—Not later than 12 months after the date
of enactment of this title, the Secretary shall promulgate final
regulations for the implementation of this title. All regulations
promulgated pursuant to this title shall be developed by the Sec-