Sec. 7. Klamath Tribes Tribal Resource Fund
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There is established in the Treasury of the United States a fund to be known as the Klamath Tribes Tribal Resource Fund (referred to in this section as the Fund ), consisting of the amounts deposited in the Fund under subsection (b), together with any interest earned on those amounts, to be managed, invested, and administered by the Secretary for the benefit of the Klamath Tribes in accordance with the terms of section 2.4 of the Upper Basin Agreement, to remain available until expended.
The Fund shall consist of such amounts as are appropriated to the Fund under subsection (i), which shall be deposited in the Fund not later than 60 days after the amounts are appropriated and any interest under subsection
(c)or (d). Absent an approved tribal investment plan under subsection
(d)or an economic development plan under subsection (e), the Secretary shall manage, invest, and distribute all amounts in the Fund in a manner that is consistent with the investment authority of the Secretary under— the first section of the Act of June 24, 1938 ( 25 U.S.C. 162a ); the American Indian Trust Fund Management Reform Act of 1994 ( 25 U.S.C. 4001 et seq. ); and this section. In lieu of the investment provided for in subsection (c), the Klamath Tribes may submit a tribal investment plan to the Secretary, applicable to all or part of the Fund, excluding the amounts described in subsection (e)(4)(A). Not later than 60 days after the date on which a tribal investment plan is submitted under subparagraph (A), the Secretary shall approve such investment plan if the Secretary finds that the plan— is reasonable and sound; meets the requirements of the American Indian Trust Fund Management Reform Act of 1994 ( 25 U.S.C. 4001 et seq. ); and meets the requirements of this section. If the Secretary does not approve the tribal investment plan, the Secretary shall set forth in writing the particular reasons for the disapproval. If the tribal investment plan is approved by the Secretary, the funds involved shall be disbursed from the Fund to the Klamath Tribes to be invested by the Klamath Tribes in accordance with the approved tribal investment plan, subject to the requirements of this section. The Secretary may take such steps as the Secretary determines to be necessary to monitor the compliance of a Tribe with an investment plan approved under paragraph (1)(B). The United States shall not be— responsible for the review, approval, or audit of any individual investment under an approved investment plan; or directly or indirectly liable with respect to any such investment, including any act or omission of the Klamath Tribes in managing or investing amounts in the Fund. The principal and income derived from tribal investments carried out pursuant to an investment plan approved under subparagraph
(B)shall be— subject to the requirements of this section; and expended only in accordance with an economic development plan approved under subsection (e). The Klamath Tribes shall submit to the Secretary an economic development plan for the use of the Fund, including the expenditure of any principal or income derived from management under subsection
(c)or from tribal investments carried out under subsection (d). Not later than 60 days after the date on which an economic development plan is submitted under paragraph (1), the Secretary shall approve the economic development plan if the Secretary finds that the plan meets the requirements of the American Indian Trust Fund Management Reform Act of 1994 ( 25 U.S.C. 4001 et seq. ) and this section. The economic development plan under this subsection shall— require that the Klamath Tribes spend all amounts withdrawn from the Fund in accordance with this section; and include such terms and conditions as are necessary to meet the requirements of this section. The economic development plan shall include a resource acquisition and enhancement plan, which shall— require that not less than 1/2 of the amounts appropriated for each fiscal year to carry out this section shall be used to enhance, restore, and utilize the natural resources of the Klamath Tribes, in a manner that also provides for the economic development of the Klamath Tribes and, as determined by the Secretary, directly or indirectly benefit adjacent non-Indian communities; and be reasonably related to the protection, acquisition, enhancement, or development of natural resources for the benefit of the Klamath Tribes and members of the Klamath Tribes. Subject to the requirements of this Act and approval by the Secretary, the Klamath Tribes may modify a plan approved under this subsection. The United States shall not be directly or indirectly liable for any claim or cause of action arising from— the approval of a plan under this paragraph; or the use or expenditure by the Klamath Tribes of any amount in the Fund. No amount in the Fund (including any income accruing to the amount) and no revenue from any water use contract may be distributed to any member of the Klamath Tribes on a per capita basis. Subject to paragraph (2), amounts in the Fund shall not be available for disbursement under this section until the Klamath Tribes— make the commitments set forth in the Agreements; and are determined by the Secretary to be in substantial compliance with those commitments. Based on the unique history of the loss of reservation land by the Klamath Tribes through termination of Federal recognition and acknowledging that restoration of tribal land is essential to building the tribal economy and achieving self-determination, the Secretary may disburse funds to the Klamath Tribes prior to the satisfaction of the requirements of paragraph
(1)on a determination by the Secretary that such funds are available and that early disbursement will support activities designed to increase employment opportunities for members of the Klamath Tribes. Any such disbursement shall be in accordance with a written agreement between the Secretary and the Klamath Tribes that provides the following: For any disbursement to purchase land that is to be placed in trust pursuant to section 6 of the Klamath Indian Tribe Restoration Act ( 25 U.S.C. 566d ), the written agreement shall specify that if assurances made do not become permanent as described in section 15.3.3 of the Restoration Agreement and on publication of a notice by the Secretary pursuant to section 15.3.4.C of the Restoration Agreement or section 10.2 of the Upper Basin Agreement, any land purchased with disbursements from the Fund shall revert back to sole ownership by the United States unless, prior to reversion, the Klamath Tribes enter into a written agreement to repay the purchase price to the United States, without interest, in annual installments over a period not to exceed 40 years. For any disbursement to support economic activity and creation of tribal employment opportunities (including any rehabilitation of existing properties to support economic activities), the written agreement shall specify that if assurances made do not become permanent as described in section 15.3.3 of the Restoration Agreement and on publication of a notice by the Secretary pursuant to section 15.3.4.C of the Restoration Agreement or section 10.2 of the Upper Basin Agreement, any amounts disbursed from the Fund shall be repaid to the United States, without interest, in annual installments over a period not to exceed 40 years. Amounts in the Fund may not be made available for any purpose other than a purpose described in this section. Not later than 60 days after the end of each fiscal year beginning with fiscal year 2015, the Secretary shall submit to the Committee on Appropriations of the House of Representatives, the Committee on Appropriations of the Senate, and the appropriate authorizing committees of the Senate and the House of Representatives a report on the operation of the Fund during the fiscal year. Each report shall include, for the fiscal year covered by the report, the following: A statement of the amounts deposited into the Fund. A description of the expenditures made from the Fund for the fiscal year, including the purpose of the expenditures. Recommendations for additional authorities to fulfill the purpose of the Fund. A statement of the balance remaining in the Fund at the end of the fiscal year. This section does not create or vest rights or benefits for any party other than the Klamath Tribes and the United States. There is authorized to be appropriated to carry out this section $8,000,000 for each fiscal year, not to exceed a total amount of $40,000,000.
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