To provide for the use and distribution of the funds awarded to the Quinault Indian Nation under United States Claims Court Dockets 772-71, 773-71, 774-71, and 775-71, and for other purposes.

SECTION 1. DISTRIBUTION OF JUDGMENT FUNDS.

    (a) Funds To Be Deposited Into Separate Accounts.--
            (1) In general.--Subject to section 2, not later than 30 
        days after the date of enactment of this Act, the funds 
        appropriated on September 19, 1989, in satisfaction of an award 
        granted to the Quinault Indian Nation under Dockets 772-71, 
        773-71, 774-71, and 775-71 before the United States Claims 
        Court, less attorney fees and litigation expenses, and 
        including all interest accrued to the date of disbursement, 
        shall be distributed by the Secretary and deposited into 3 
        separate accounts to be established and maintained by the 
        Quinault Indian Nation (referred to in this Act as the 
        ``Tribe'') in accordance with this subsection.
            (2) Account for principal amount.--
                    (A) In general.--The Tribe shall--
                            (i) establish an account for the principal 
                        amount of the judgment funds; and
                            (ii) use those funds to establish a 
                        Permanent Fisheries Fund.
                    (B) Use and investment.--The principal amount 
                described in subparagraph (A)(i)--
                            (i) except as provided in subparagraph 
                        (A)(ii), shall not be expended by the Tribe; 
                        and
                            (ii) shall be invested by the Tribe in 
                        accordance with the investment policy of the 
                        Tribe.
            (3) Account for investment income.--
                    (A) In general.--The Tribe shall establish an 
                account for, and deposit in the account, all investment 
                income earned on amounts in the Permanent Fisheries 
                Fund established under paragraph (2)(A)(ii) after the 
                date of distribution of the funds to the Tribe under 
                paragraph (1).
                    (B) Use of funds.--Funds deposited in the account 
                established under subparagraph (A) shall be available 
                to the Tribe--
                            (i) subject to subparagraph (C), to carry 
                        out fisheries enhancement projects; and
                            (ii) pay expenses incurred in administering 
                        the Permanent Fisheries Fund established under 
                        paragraph (2)(A)(ii).
                    (C) Specification of projects.--Each fisheries 
                enhancement project carried out under subparagraph 
                (B)(i) shall be specified in the approved annual budget 
                of the Tribe.
            (4) Account for income on judgment funds.--
                    (A) In general.--The Tribe shall establish an 
                account for, and deposit in the account, all investment 
                income earned on the judgment funds described in 
                subsection (a) during the period beginning on September 
                19, 1989, and ending on the date of distribution of the 
                funds to the Tribe under paragraph (1).
                    (B) Use of funds.--
                            (i) In general.--Subject to clause (ii), 
                        funds deposited in the account established 
                        under subparagraph (A) shall be available to 
                        the Tribe for use in carrying out tribal 
                        government activities.
                            (ii) Specification of activities.--Each 
                        tribal government activity carried out under 
                        clause (i) shall be specified in the approved 
                        annual budget of the Tribe.
    (b) Determination of Amount of Funds Available.--Subject to 
compliance by the Tribe with paragraphs (3)(C) and (4)(B)(ii) of 
subsection (a), the Quinault Business Committee, as the governing body 
of the Tribe, may determine the amount of funds available for 
expenditure under paragraphs (3) and (4) of subsection (a).
    (c) Annual Audit.--The records and investment activities of the 3 
accounts established under subsection (a) shall--
            (1) be maintained separately by the Tribe; and
            (2) be subject to an annual audit.
    (d) Reporting of Investment Activities and Expenditures.--Not later 
than 120 days after the date on which each fiscal year of the Tribe 
ends, the Tribe shall make available to members of the Tribe a full 
accounting of the investment activities and expenditures of the Tribe 
with respect to each fund established under this section (which may be 
in the form of the annual audit described in subsection (c)) for the 
fiscal year.

SEC. 2. CONDITIONS FOR DISTRIBUTION.

    (a) United States Liability.--On disbursement to the Tribe of the 
funds under section 1(a), the United States shall bear no trust 
responsibility or liability for the investment, supervision, 
administration, or expenditure of the funds.
    (b) Application of Other Law.--All funds distributed under this Act 
shall be subject to section 7 of the Indian Tribal Judgment Funds Use 
or Distribution Act (25 U.S.C. 1407).

Summary: Specifies the distribution and use of funds appropriated on September 19, 1989, in satisfaction of an award granted to the Quinault Indian Nation under Dockets 772-71, 773-71, 774-71, and 775-71 before the United States Claims Court. Requires distribution and deposit of such funds into three accounts (for Principal Amount, for Investment Income, and for Income on Judgment Funds), to be established by the Tribe, maintained separately, and audited annually. Requires use of the Account for Principal Amount to establish a Permanent Fisheries Fund. Exempts the United States from any trust responsibility or liability for funds upon their disbursement to the Tribe.