Sec. 13. Funding
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Out of any funds in the Treasury not otherwise appropriated, the Secretary of the Treasury shall transfer to the Secretary $1,715,000,000 for deposit in the iiná bá – paa tuwaqat’si pipeline Implementation Fund Account, to carry out the planning, engineering, design, environmental compliance, and construction of the iiná bá – paa tuwaqat’si pipeline, to remain available until expended, withdrawn, or reverted to the general fund of the Treasury. Except as provided in subparagraph (B), amounts appropriated to and deposited in the iiná bá – paa tuwaqat’si pipeline Implementation Fund Account under paragraph
(1)shall not be available for expenditure until such time as the Secretarial findings required by section 16(a) are made and published. Of the amounts made available under paragraph (1), $25,000,000 shall be made available before the Enforceability Date for the Bureau to carry out environmental compliance and preliminary design of the iiná bá – paa tuwaqat’si pipeline, subject to the following: The revision of the Settlement Agreement and exhibits to conform to this Act. Execution by all of the required settlement parties, including the United States, to the conformed Settlement Agreement and exhibits, including the waivers and releases of claims under section 14. In addition to the amounts made available under paragraph (1), there are authorized to be appropriated to the iiná bá – paa tuwaqat’si pipeline Implementation Fund Account such sums as are necessary to complete the construction of the iiná bá – paa tuwaqat’si pipeline. Out of any funds in the Treasury not otherwise appropriated, the Secretary of the Treasury shall transfer to the Secretary $3,285,000,000, for deposit in the Navajo Nation Water Settlement Trust Fund, the Hopi Tribe Water Settlement Trust Fund, and the San Juan Southern Paiute Settlement Trust Fund, in accordance with paragraph (3), to remain available until expended, withdrawn, or reverted to the general fund of the Treasury. Amounts appropriated to and deposited in the Navajo Nation Water Settlement Trust Fund, the Hopi Tribe Water Settlement Trust Fund, and the San Juan Southern Paiute Water Settlement Trust Fund under paragraph
(1)shall not be available for expenditure until such time as the Secretarial findings required by section 16(a) are made and published. The Secretary shall distribute and deposit the amounts made available under paragraph
(1)in accordance with the following: The Secretary shall deposit in the Navajo Nation Water Settlement Trust Fund $2,746,700,000, to remain available until expended, withdrawn, or reverted to the general fund of the Treasury and to be allocated to the accounts of the Navajo Nation Water Settlement Trust Fund in accordance with the following: The Navajo Nation Water Projects Trust Fund Account, $2,369,200,000. The Navajo Nation OM&R Trust Fund Account, $229,500,000. The Navajo Nation Agricultural Conservation Trust Fund Account, $80,000,000. The Navajo Nation Renewable Energy Trust Fund Account, $40,000,000. The Navajo Nation Lower Basin Colorado River Water Acquisition Trust Fund Account, $28,000,000. The Secretary shall deposit in the Hopi Tribe Water Settlement Trust Fund $508,500,000, to remain available until expended, withdrawn, or reverted to the general fund of the Treasury and to be allocated to the accounts of the Hopi Tribe Water Settlement Trust Fund in accordance with the following: The Hopi Tribe Groundwater Projects Trust Fund Account, $390,000,000. The Hopi Tribe OM&R Trust Fund Account, $87,000,000. The Hopi Tribe Agricultural Conservation Trust Fund Account, $30,000,000. The Hopi Tribe Lower Basin Colorado River Water Acquisition Trust Fund Account, $1,500,000. The Secretary shall deposit in the San Juan Southern Paiute Water Settlement Trust Fund $29,800,000, to remain available until expended, withdrawn, or reverted to the general fund of the Treasury and to be allocated to the accounts of the San Juan Southern Paiute Water Settlement Trust Fund in accordance with the following: The San Juan Southern Paiute Groundwater Project Trust Fund Account, $28,000,000. The San Juan Southern Paiute OM&R Trust Fund Account, $1,500,000. The San Juan Southern Paiute Agricultural Conservation Trust Fund Account, $300,000. The Secretary shall invest amounts deposited in the iiná bá – paa tuwaqat’si pipeline Implementation Fund Account under subsection
(a)and the Navajo Nation Water Settlement Trust Fund, Hopi Tribe Water Settlement Trust Fund, and the San Juan Southern Paiute Water Settlement Trust Fund under subsection
(b)in accordance with— the Act of April 1, 1880 ( 25 U.S.C. 161 ); the first section of the Act of June 24, 1938 ( 25 U.S.C. 162a ); and obligations of Federal corporations and Federal Government-sponsored entities, the charter documents of which provide that the obligations of the entities are lawful investments for federally managed funds. The interest on, and the proceeds from, the sale or redemption of, any obligations held in the Navajo Nation Water Settlement Trust Fund, the Hopi Tribe Water Settlement Trust Fund, and the San Juan Southern Paiute Water Settlement Trust Fund shall be credited to and form a part of the applicable Trust Fund. Amounts appropriated to and deposited in the Navajo Nation Water Settlement Trust Fund, the Hopi Tribe Water Settlement Trust Fund, and the San Juan Southern Paiute Tribe Water Settlement Trust Fund may be used as described in sections 10, 11, and 12 and paragraph 12 of the Settlement Agreement. The amounts appropriated and authorized to be appropriated under subsection
(a)shall be— increased or decreased, as appropriate, by such amounts as may be justified by reason of ordinary fluctuations in costs occurring after January 1, 2024, as indicated by the Bureau Construction Cost Trends Index applicable to the types of construction involved; and adjusted to address construction cost changes necessary to account for unforeseen market volatility that may not otherwise be captured by engineering cost indices as determined by the Secretary, including repricing applicable to the types of construction and current industry standards involved. The amounts appropriated and authorized to be appropriated under subsection
(b)shall be— increased or decreased, as appropriate, by such amounts as may be justified by reason of ordinary fluctuations in costs occurring after January 1, 2024, as indicated by the Bureau Construction Cost Index—Composite Trend; and adjusted to address construction cost changes necessary to account for unforeseen market volatility that may not otherwise be captured by engineering cost indices as determined by the Secretary, including repricing applicable to the types of construction and current industry standards involved. The adjustment process under paragraphs
(1)and
(2)shall be repeated for each subsequent amount appropriated until the amount appropriated and authorized to be appropriated, as applicable, under subsections
(a)and (b), as adjusted, has been appropriated. With respect to the iiná bá – paa tuwaqat’si pipeline Implementation Fund Account, the period of adjustment under paragraph
(1)for any increment of funding shall be annually until the iiná bá – paa tuwaqat’si pipeline project is completed. With respect to the Navajo Nation Water Settlement Trust Fund, the Hopi Tribe Water Settlement Trust Fund, and the San Juan Southern Paiute Water Settlement Trust Fund, the period of indexing adjustment under paragraph
(2)for any increment of funding shall end on the date on which the funds are deposited into the Trust Funds.
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