[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 1740 Introduced in Senate (IS)]







110th CONGRESS
  1st Session
                                S. 1740

To amend the Act of February 22, 1889, and the Act of July 2, 1862, to 
 provide for the management of public land trust funds in the State of 
                             North Dakota.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 28, 2007

Mr. Conrad (for himself and Mr. Dorgan) introduced the following bill; 
   which was read twice and referred to the Committee on Energy and 
                           Natural Resources

_______________________________________________________________________

                                 A BILL


 
To amend the Act of February 22, 1889, and the Act of July 2, 1862, to 
 provide for the management of public land trust funds in the State of 
                             North Dakota.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``North Dakota Enabling Act and First 
Morrill Act Amendments Act of 2007''.

SEC. 2. MANAGEMENT AND DISTRIBUTION OF NORTH DAKOTA TRUST FUNDS.

    The Act of February 22, 1889 (25 Stat. 676, chapter 180), is 
amended by adding at the end the following:

``SEC. 26. NORTH DAKOTA TRUST FUNDS.

    ``(a) Disposition.--Notwithstanding section 11, the State of North 
Dakota shall, with respect to any trust fund in which proceeds from the 
sale of public land are deposited under this Act (referred to in this 
section as the `trust fund')--
            ``(1) deposit all revenues earned by a trust fund into the 
        trust fund;
            ``(2) deduct the costs of administering a trust fund from 
        each trust fund; and
            ``(3) manage each trust fund to--
                    ``(A) preserve the purchasing power of the trust 
                fund; and
                    ``(B) maintain stable distributions to trust fund 
                beneficiaries.
    ``(b) Distributions.--Notwithstanding section 11, any distributions 
from trust funds in the State of North Dakota shall be made in 
accordance with section 2 of article IX of the Constitution of the 
State of North Dakota.
    ``(c) Management of Proceeds.--Notwithstanding section 13, the 
State of North Dakota shall manage the proceeds referred to in that 
section in accordance with subsections (a) and (b).
    ``(d) Management of Land and Proceeds.--Notwithstanding sections 14 
and 16, the State of North Dakota shall manage the land granted under 
that section, including any proceeds from the land, and make 
distributions in accordance with subsections (a) and (b).''.

SEC. 3. MANAGEMENT AND DISTRIBUTION OF MORRILL ACT GRANTS.

    The Act of July 2, 1862 (commonly known as the ``First Morrill 
Act'') (7 U.S.C. 301 et seq.), is amended by adding at the end the 
following:

``SEC. 9. LAND GRANTS IN THE STATE OF NORTH DAKOTA.

    ``(a) Expenses.--Notwithstanding section 3, the State of North 
Dakota shall manage the land granted to the State under the first 
section, including any proceeds from the land, in accordance with this 
section.
    ``(b) Disposition of Proceeds.--Notwithstanding section 4, the 
State of North Dakota shall, with respect to any trust fund in which 
proceeds from the sale of land under this Act are deposited (referred 
to in this section as the `trust fund')--
            ``(1) deposit all revenues earned by a trust fund into the 
        trust fund;
            ``(2) deduct the costs of administering a trust fund from 
        each trust fund; and
            ``(3) manage each trust fund to--
                    ``(A) preserve the purchasing power of the trust 
                fund; and
                    ``(B) maintain stable distributions to trust fund 
                beneficiaries.
    ``(c) Distributions.--Notwithstanding section 4, any distributions 
from trust funds in the State of North Dakota shall be made in 
accordance with section 2 of article IX of the Constitution of the 
State of North Dakota.
    ``(d) Management.--Notwithstanding section 5, the State of North 
Dakota shall manage the land granted under the first section, including 
any proceeds from the land, in accordance with this section.''.

SEC. 4. CONSENT OF CONGRESS.

    Effective July 1, 2009, Congress consents to the amendments to the 
Constitution of North Dakota proposed by House Concurrent Resolution 
No. 3037 of the 59th Legislature of the State of North Dakota entitled 
``A concurrent resolution for the amendment of sections 1 and 2 of 
article IX of the Constitution of North Dakota, relating to 
distributions from and the management of the common schools trust fund 
and the trust funds of other educational or charitable institutions; 
and to provide a contingent effective date'' and approved by the voters 
of the State of North Dakota on November 7, 2006.
                                 <all>