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Code · BILL · 116th Congress · S. 3754 (Introduced in Senate) — To amend the Omnibus Public Land Management Act of 2009 to make a technical correction to the water rights settlement... · Sec. 2

Sec. 2. Authorization of payment of interest on trust funds established under settlement

274 words·~1 min read·/bill/116/s/3754/is/section-2

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Section 10807 of the Omnibus Public Land Management Act of 2009 ( Public Law 111–11 ; 123 Stat. 1408) is amended— in subsection (b)(3)— by striking There is and inserting the following: There is ; and by adding at the end the following: There is authorized to be appropriated to the Secretary for deposit into the Development Fund the interest that would have accrued during the period beginning on October 1, 2009, and ending on January 25, 2016, on balances held in the Development Fund, as calculated using the applicable rate for interest-bearing obligations of the United States if the amounts in the Development Fund had been invested in accordance with— the Act of April 1, 1880 (21 Stat. 70, chapter 41; 25 U.S.C. 161 ); and the first section of the Act of June 24, 1938 (52 Stat. 1037, chapter 648; 25 U.S.C. 162a ). ; and in subsection (c)(3)— by striking There is and inserting the following:
There is ; and by adding at the end the following: There is authorized to be appropriated to the Secretary for deposit into the Maintenance Fund the interest that would have accrued during the period beginning on October 1, 2009, and ending on January 25, 2016, on balances held in the Maintenance Fund, as calculated using the applicable rate for interest-bearing obligations of the United States if the amounts in the Maintenance Fund had been invested in accordance with— the Act of April 1, 1880 (21 Stat. 70, chapter 41; 25 U.S.C. 161 ); and the first section of the Act of June 24, 1938 (52 Stat. 1037, chapter 648; 25 U.S.C. 162a ). .
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