[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4384 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 4384

   To establish the Utah Navajo Trust Fund Commission, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           December 16, 2009

 Mr. Matheson introduced the following bill; which was referred to the 
                     Committee on Natural Resources

_______________________________________________________________________

                                 A BILL


 
   To establish the Utah Navajo Trust Fund Commission, and for other 
                               purposes.

    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 shall be cited as the ``Utah Navajo Trust Fund Act of 
2009''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Audit.--The term ``audit'' means an audit using 
        accounting procedures that conform to generally accepted 
        accounting principles and auditing procedures that conform to 
        chapter 75 of title 31, United States Code (commonly known as 
        the ``Single Audit Act'' of 1984).
            (2) Beneficiary.--The term ``beneficiary'' means an 
        enrolled member of the federally recognized Indian tribe, the 
        Navajo Nation, who resides in San Juan County, Utah and is 
        listed on a Chapter's roll of members.
            (3) Election board.--The term ``Election Board'' means all 
        of the Utah Navajo Chapter Presidents and Vice-Presidents.
            (4) Income.--The term ``income'' means all revenues from 
        investments made by the Trustee of the trust fund principal, 
        including income from the lease of Trust assets or from any 
        other source.
            (5) Principal.--The term ``principal'' means--
                    (A) the balance of the Trust Fund as of the date 
                the moneys are received from the State of Utah in 
                accordance with section 12; and
                    (B) all moneys transferred into the Trust Fund from 
                royalties received as specified in the 1933 Act.
            (6) State.--The term ``State'' means the State of Utah.
            (7) Trust.--The term ``Trust'' means the Utah Navajo Trust 
        Fund established in section 12.
            (8) Trust administrator.--The term ``Trust Administrator'' 
        means the professional trust administrator hired by the Utah 
        Navajo Trust Fund Commission to perform the duties and 
        responsibilities as provided in section 11.
            (9) Trust asset.--The term ``Trust asset'' means any 
        tangible property (such as land, buildings, cash, stocks, and 
        bonds) held by the Trust Administrator for the benefit of the 
        beneficiaries.
            (10) Trust funds.--The term ``Trust funds'' means--
                    (A) all moneys transferred into the Utah Navajo 
                Trust Fund from royalties received as specified in the 
                1933 Act;
                    (B) all moneys or proceeds derived from Trust 
                assets;
                    (C) all investment income derived from the funds in 
                subparagraphs (A) and (B); and funds held by the Trust 
                Administrator for the benefit of the beneficiaries; and
                    (D) the funds and assets transferred from the State 
                of Utah pursuant to section 12.
            (11) Utah navajo trust fund commission; commission.--The 
        term ``Utah Navajo Trust Fund Commission'' or ``Commission'' 
        means the entity comprising the representatives elected by the 
        beneficiaries in accordance with this Act.
            (12) Utah navajo chapters; chapters.--The term ``Utah 
        Navajo Chapters'' or ``Chapters'' means the following chapters 
        of the federally recognized Indian tribe, the Navajo Nation:
                    (A) Aneth Chapter.
                    (B) Mexican Water Chapter.
                    (C) Navajo Mountain Chapter.
                    (D) Oljato Chapter.
                    (E) Dennehoto Chapter.
                    (F) Red Mesa Chapter.
                    (G) Teec Nos Pos Chapter.

SEC. 3. AMENDMENT TO PROVIDE FOR THE USE OF ROYALTIES.

    The Act titled ``An Act to permanently set aside certain lands in 
Utah as an addition to the Navajo Indian Reservation, and for other 
purposes'', approved March 18, 1933 (47 Stat. 1418), is amended in the 
first section by striking ``paid to the State of Utah'' and all that 
follows through the end of that section and inserting ``deposited into 
the `Utah Navajo Trust Fund' established pursuant to section 12 of the 
Utah Navajo Trust Fund Act of 2009.''.

SEC. 4. ELECTION OF UTAH NAVAJO TRUST FUND COMMISSION.

    (a) In General.--Not later than 60 days from the date of enactment 
of this Act, each Utah Navajo Chapter shall conduct, by secret ballot, 
an election in accordance with this Act for the purpose of selecting a 
representative to the Utah Navajo Trust Fund Commission. All Chapters 
shall conduct their elections on the same day.
    (b) Candidates; Voters.--Each Utah Navajo Chapter shall, by 
resolution in an open meeting, determine which candidates for 
representative to the Utah Navajo Trust Fund Commission meet the 
criteria set forth in section 9 and are able to carry out the duties 
specified in this Act. Each candidate that a Utah Navajo Chapter 
determines meets the criteria in section 9 and who is able to carry out 
the duties specified in this Act shall be placed on the ballot as a 
potential representative to the Utah Navajo Trust Fund Commission for a 
vote by the beneficiaries who are 18 years of age or older and are 
registered with that Chapter. Eligible voters within this section are 
not limited to voters who voted in the last election. Only voters 
registered with the Chapter conducting the election for a 
representative to the Utah Navajo Trust Fund Commission and who are 
beneficiaries of the Trust are eligible to vote on that chapter ballot.
    (c) Reimbursement for Costs.--The reasonable costs of conducting 
the election, as determined in the Commission's discretion, may be 
reimbursed from the Trust, at the discretion of the Utah Navajo Trust 
Fund Commission, to each Utah Navajo Chapter within 90 days of receipt 
of the Trust assets transferred pursuant to section 12, and if not 
reimbursed by that time, reimbursement is no longer allowed. If the 
Commission determines to reimburse the reasonable costs for one Utah 
Navajo Chapter, the Commission must reimburse the reasonable costs for 
all Chapters.

SEC. 5. NOTICE OF ELECTION.

    Once an election is set by each Utah Navajo Chapter to elect a 
representative to the Utah Navajo Trust Fund Commission, each Chapter 
shall publish notice of the election in accordance with this Act. 
Notice of the election is sufficient if published at least once for two 
consecutive weeks in a newspaper of reservation wide and San Juan 
County wide distribution. Each Chapter may provide other notice as 
appropriate. The notice shall contain--
            (1) the date of the election;
            (2) a descriptive summary of the purpose of the election;
            (3) a descriptive summary of each candidate for that 
        Chapter's representative to the Utah Navajo Trust Fund 
        Commission;
            (4) a brief statement of the legal effect of the proposed 
        measure as it will appear on the ballot;
            (5) a citation to the Chapter resolution referenced in 
        section 4(b) where the Chapter has determined that each 
        applicant listed on the ballot meets the criteria set forth in 
        this Act;
            (6) notice that copies of the complete text of the 
        referendum measure and copies of each determination that a 
        candidate meets the requirements of the Act are available for 
        inspection or purchase (duplication cost only) at the Chapter 
        Office for 15 days prior to the election; and
            (7) a specific statement that the candidate who receives 
        the highest number of votes from that Chapter's election shall 
        be the Chapter's representative to the Utah Navajo Trust Fund 
        Commission.

SEC. 6. FORM OF BALLOT.

    Each Chapter shall prepare the official ballot for the election of 
a representative to the Utah Navajo Trust Fund Commission in the 
following manner:
            (1) The official title of the referendum measure shall be 
        printed on the official ballot. The official title of the 
        referendum measure to be voted upon shall be agreed upon by all 
        Chapters.
            (2) A descriptive summary of the referendum measure shall 
        be prepared by each Chapter and printed on the official ballot 
        following the official title. The descriptive summary shall 
        provide the registered voters with an unbiased objective 
        summary of the effect of a vote. The referendum shall 
        specifically state that the candidate receiving the highest 
        number of votes shall be selected as that Chapter's 
        representative to the Utah Navajo Trust Fund Commission. The 
        Chapters may obtain independent legal assistance in drafting 
        the descriptive summary.
            (3) Following the official title and descriptive summary of 
        the referendum measure, a brief statement of legal effect shall 
        be printed on the ballot. A brief statement of legal effect 
        shall, in a brief and objective phrase, explain the resulting 
        effect a ``yes'' or ``for'' and ``no'' or ``against'' vote will 
        have on existing law when a candidate receives the highest 
        number of votes cast in that particular manner. The brief 
        statement of legal effect shall be agreed upon by all Chapters. 
        The Chapters may obtain independent legal advice in drafting 
        the brief statement of legal effect. The brief statement of 
        legal effect shall appear on the ballot as follows:
                    (A) A ``yes'' (or ``for'') vote shall have the 
                legal effect of ___ (the blank to be filled in as 
                appropriate).
                    (B) A ``not'' (or ``against'') vote shall have the 
                legal effect of ___ (the blank to be filled in as 
                appropriate).
            (4) Below the brief statement of legal effect there shall 
        be printed on the ballot the corresponding words ``yes'' or 
        ``for'' and ``no'' or ``against'', as may be appropriate, and a 
        place for the voter to put a mark indicating his/her 
        preference. Each voter may only vote once and may only vote 
        ``yes'' or ``for'' for one candidate.
            (5) A minimum of four copies of the complete text of the 
        referendum measure shall be made available in each polling 
        place for the voters to review. Each voter shall be informed by 
        the poll judges and clerks at each polling place that copies of 
        the complete text are available to review in the polling place.
            (6) Dispute of an official title, descriptive summary or 
        brief statement of legal effect may be determined by a hearing 
        before the Election Board. A dispute must be raised 7 days 
        before the election and a decision on the dispute must be 
        rendered by 3 days before the election.

SEC. 7. CONDUCT OF ELECTIONS.

    (a) Polling Place Supervision; Appeal by Persons Not Allowed To 
Vote.--
            (1) Poll judge.--Before an election, the President of each 
        Utah Navajo Chapter shall hire at least one independent poll 
        judge, provide such poll judge with necessary instruction, 
        swearing in, and transport the ballot boxes and voting machines 
        to the polling places for each election community. The poll 
        judge shall--
                    (A) guard the polls;
                    (B) maintain order;
                    (C) instruct voters in the techniques of balloting;
                    (D) retain custody of the account for all ballots, 
                the ballot box, and the poll books; and
                    (E) supervise and have supervisory authority over 
                any assistant judges and poll clerks in guarding the 
                polls.
            (2) Poll clerk.--Each Utah Navajo Chapter shall hire a poll 
        clerk to enter each voter in the poll books and issue ballots.
            (3) Polling place.--A voter must vote at the polling place 
        where he or she is registered to vote.
            (4) Appeal of voting eligibility.--Any person who is not 
        allowed to vote may appeal to the Election Board immediately, 
        whose decision shall be final.
    (b) Time.--Voting shall begin at 6:00 a.m. and shall end at 7:00 
p.m. All voters present at the poll places and in line to vote at 7:00 
p.m. shall be allowed to vote.
    (c) Counting of Votes.--At the close of the election, the poll 
judge at each polling place shall tabulate the results of the 
balloting, seal and lock the ballot boxes with the poll books and keys 
in the ballot boxes, and transmit the results of the balloting to the 
Election Board via telephone or radio communications and in writing. A 
poll watcher shall be allowed at all times during the balloting and 
during the counting of the votes.
    (d) Canvass of Votes; Recount.--
            (1) Items forwarded to election board.--Each poll judge 
        shall forward to the Election Board for distribution the 
        following:
                    (A) Sealed ballot boxes containing all of the 
                ballots cast in the election.
                    (B) All unused or spoiled ballots.
                    (C) Data packs.
                    (D) Keys.
                    (E) A written statement of the election results on 
                a form provided by the Election Board and certified by 
                the poll judge at each polling place.
                    (F) The list of beneficiaries in the Chapter.
            (2) Canvass.--The Election Board shall--
                    (A) canvass the written statements of election 
                results from each polling place; and
                    (B) total the election results.
            (3) Recount.--No recount of ballots of any polling place 
        shall be made unless, not later than 10 days after the 
        election, a registered voter who voted on the referendum 
        objects and the Election Board sees sufficient reason to 
        recount the election results. The Election Board may, on its 
        own initiative, conduct a recount of the votes of any polling 
        place if the Election Board determines that there may have been 
        substantial irregularity in the voting or counting of the 
        ballots. The Election Board may use the poll judge to assist in 
        canvassing and recounting ballots.
    (e) Certification of Election.--Not less than 10 days following an 
election, the Election Board shall certify the election results.
    (f) Appeal of Disputed Elections.--
            (1) In general.--A disputed election may be appealed, in 
        writing, to the Election Board by an eligible beneficiary who 
        voted in the referendum election not later than 10 calendar 
        days after the election.
            (2) Rules and regulations.--The Election Board shall--
                    (A) issue rules and regulations for the 
                determination of how such disputes shall be handled; 
                and
                    (B) pursuant to rules and regulations issued under 
                subparagraph (A), issue a decision upholding or 
                vacating disputed elections.

SEC. 8. EFFECT OF UTAH NAVAJO TRUST FUND COMMISSION ELECTION.

    (a) Binding.--Each Chapter's vote on a representative for the Utah 
Navajo Trust Fund Commission shall be binding and have the effect of 
law.
    (b) Selection Amended or Repealed.--The selection of a 
representative for the Utah Navajo Trust Fund Commission by this 
referendum election shall be amended or repealed only--
            (1) when the term ends;
            (2) by the outcome of a vote on a subsequent referendum or 
        initiative election by a Chapter concerning the same subject 
        matter as that of the referendum which originally adopted the 
        legislation; or
            (3) if the United States Congress effectively amends or 
        repeals this Act.

SEC. 9. APPLICATION REQUIREMENTS.

    Candidates for representative to the Utah Navajo Trust Fund 
Commission shall attest that he or she has not been convicted at any 
time of an offense of dishonest conduct against, or arising out of, any 
Federal, State, or Navajo Nation law.

SEC. 10. UTAH NAVAJO TRUST FUND COMMISSION.

    (a) Establishment.--Not later than 90 days after the date of the 
enactment of this Act, there shall be established a Utah Navajo Trust 
Fund Commission.
    (b) Members; Terms.--The Commission shall have 7 members, composed 
of one member elected by each of the 7 Utah Navajo Chapters. Each 
member shall serve for a term of 4 years.
    (c) Duties.--The Commission shall--
            (1) select by at least a \5/7\ vote an independent Trust 
        Administrator for the Utah Navajo Trust Fund that meets the 
        requirements of this Act and that has no conflict of interest 
        with the Commission;
            (2) ensure that amounts in the Trust are invested, managed, 
        and administered for the health, education, and general welfare 
        of the beneficiaries;
            (3) establish written investment goals, objectives, and 
        guidelines for the investment of the Trust assets, determine 
        projects to fund, define rules of eligibility, establish 
        applications, and monitor implementation of the Utah Navajo 
        Trust Fund;
            (4) authorize expenditure of amounts in the Utah Navajo 
        Trust Fund for approved projects only;
            (5) report to the beneficiaries through each Chapter on--
                    (A) details of recommended expenditures as they 
                relate to community purposes;
                    (B) the achievement of the objectives of the Utah 
                Navajo Trust Fund; and
                    (C) future projects, plans, and programs under 
                consideration;
            (6) have a thorough understanding of this Act;
            (7) ensure that not more than 5 percent of the amounts in 
        the Utah Navajo Trust Fund in any fiscal year are expended on 
        administrative costs of the Commission and the Trust 
        Administrator;
            (8) not use Trust assets for the personal use of the 
        Commission members;
            (9) obtain an annual independent audit of the Utah Navajo 
        Trust Fund;
            (10) report to the beneficiaries through each Chapter--
                    (A) on the audit obtained by the Commission and the 
                Trust Administrator;
                    (B) the use of the Trust property for 
                implementation and community purposes as provided in 
                this Act and the annual assessment required by this 
                section; and
                    (C) the investment of the Trust property, including 
                compliance with the objectives of the Trust and results 
                for each year;
            (11) establishing and making available to the beneficiaries 
        policies and procedures for Trust Fund management and 
        accounting;
            (12) providing adequate staffing, supervision, and training 
        for Trust Fund management and accounting;
            (13) prepare and maintain a census of beneficiaries based 
        on data and documentation provided by the Chapters;
            (14) administer its duties pursuant to this Act in offices 
        located in Montezuma Creek on the Navajo Nation Reservation in 
        San Juan County, Utah;
            (15) establish a process by which the beneficiaries can 
        apply for health, education, and housing assistance;
            (16) ensure that Navajos living outside of the Navajo 
        Nation in San Juan County, Utah, remain eligible for 
        educational assistance from the Trust Fund;
            (17) to make rules to govern its operations, employ 
        professional staff, and contract with outside advisers to 
        provide legal or other services necessary for the proper 
        administration of this Act; and
            (18) maintain records of Commission meetings, decisions, 
        and accounts.
    (d) Authorities.--The Commission may--
            (1) retain independent advisors to assist it in the 
        formulation and adoption of its investment guidelines; and
            (2) hire employees as necessary to assist in carrying out 
        the Commission's duties under this Act.
    (e) Applicable Law.--The Commission, its officers, agents, and 
employees shall be subject to the laws of the State of Utah and shall 
undertake its duties in accordance with the laws of the State of Utah. 
In the absence of more specific statutory duties and responsibilities 
under Federal or State law, common law duties shall govern the 
administration of the Trust.
    (f) Status Under Certain Laws.--The Commission, its officers, 
agents, and employees shall not be a department, agency, or 
instrumentality of the Government of the United States and shall not be 
subject to title 31, United States Code. The Commission, and its 
officers, employees, and agents shall not be considered officers, 
employees, or agents of the Government of the United States.
    (g) Uses of Trust Assets.--Not later than 60 days after receipt of 
the Trust assets pursuant to section 12, and annually thereafter, the 
Commission shall conduct an annual assessment to determine the eligible 
uses of Trust assets and modify uses based on assessment analysis 
results. Trust assets may only be used for the health, education, and 
welfare of the beneficiaries.
    (h) Assessment.--The term ``assessment'' means taking one of the 
following actions to assess the health, education, and general welfare 
needs of the beneficiaries--
            (1) a survey of the beneficiaries that includes--
                    (A) a random sample large enough to secure an 
                accurate representation of their needs; and
                    (B) a response rate large enough to provide an 
                accurate representation of those needs;
            (2) at least three public hearings held to survey and 
        solicit beneficiary needs that are advertised for two weeks 
        before the hearing by--
                    (A) announcements by the Utah Navajo Chapters, if 
                allowed by the Chapter;
                    (B) notice posted in the Chapter buildings and 
                other public locations, if allowed by the Chapter;
                    (C) notice of the meeting announced on the radio or 
                television; and
                    (D) notice of the meeting published at least once 
                per week for two consecutive weeks in any newspaper of 
                reservation wide and San Juan County wide circulation; 
                or
            (3) a physical inventory--
                    (A) conducted by the Commission; and
                    (B) coordinated with--
                            (i) each Utah Navajo Chapter;
                            (ii) other sources; and
                            (iii) conducted to determine needs 
                        including--
                                    (I) the number and capacity of 
                                public facilities;
                                    (II) the extent of graveled and 
                                paved--
                                            (aa) roads; or
                                            (bb) airstrips;
                                    (III) the inventory of water 
                                resources;
                                    (IV) the extent of residential 
                                electrical power distribution; and
                                    (V) the number and condition of 
                                housing units.
    (i) Assessment Analysis Results.--The term ``assessment analysis 
results'' means the analysis--
            (1) of the results of the assessment required by this 
        section; and
            (2) that is developed by the Commission in accordance with 
        this section.

SEC. 11. UTAH NAVAJO TRUST FUND TRUST ADMINISTRATOR.

    (a) Duties.--The Trust Administrator selected by the Commission 
under section 10 shall--
            (1) have a thorough understanding of this Act, and other 
        policies, procedures, or documents prepared by the Commission;
            (2) provide professional financial management services to 
        assist the Commission in the investment and administration of 
        the Utah Navajo Trust Fund;
            (3) receive and pay out of the Utah Navajo Trust Fund in 
        accordance with funding directions received from the Commission 
        and Trust administration fees and expenses approved by the 
        Commission;
            (4) in conjunction with the Commission, obtain an 
        independent annual audit of the Utah Navajo Trust Fund;
            (5) report to the Commission and the Chapters on--
                    (A) the audit;
                    (B) the use of the Trust Property for the health, 
                education, and welfare purposes as provided in this Act 
                and the annual assessment required by section 10; and
                    (C) the investment of the Trust property, including 
                compliance with the objectives of the Trust and results 
                for each year;
            (6) invest the assets of the Trust in a manner consistent 
        with the investment guidelines developed by the Commission;
            (7) provide for adequate systems for accounting for and 
        reporting Trust Fund balances;
            (8) provide for adequate controls over receipts and 
        disbursements;
            (9) provide for periodic, timely reconciliations of 
        financial records to ensure the accuracy of account 
        information;
            (10) determine accurate cash balances;
            (11) prepare and supply to the Commission periodic account 
        statements; and
            (12) provide adequate staffing, supervision, and training 
        for Trust Fund management and accounting.
    (b) Compensation.--The Trust Administrator may be compensated for 
such services on a fixed contract fee basis or on such other terms and 
conditions as are reasonable and customary for such services.
    (c) Removal.--The Trust Administrator may be removed by a majority 
vote of the Commission for illegal conduct, laundering money, abusing 
funds, or upon at least a \5/7\ vote of the Commission for any reason.
    (d) Applicable Law.--The Trust Administrator, its officers, agents, 
and employees shall be subject to the laws of the State of Utah. The 
Trust Administrator, its officers, agents, and employees shall take any 
actions in accordance with the laws of the State of Utah. In the 
absence of more specific statutory duties and responsibilities under 
Federal or State law, common law duties shall govern the administration 
of the Trust.
    (e) Status Under Certain Laws.--The Trust Administrator, its 
officers, agents, and employees shall not be a department, agency, or 
instrumentality of the Government of the United States and shall not be 
subject to title 31, United States Code. The Financial Trustee and its 
officers, employees, and agents shall not be considered officers, 
employees, or agents of the Government of the United States.

SEC. 12. ESTABLISHMENT OF TRUST.

    (a) Audit.--Not later than 90 days after selection of a Trust 
Administrator by the Utah Navajo Trust Fund Commission in accordance 
with this Act, the State of Utah shall prepare an audit and accounting 
of the Trust assets in the Utah Navajo Trust Fund, as established and 
administered by the State of Utah prior to passage of this Act. Not 
later than 120 days after selection of a Trust Administrator by the 
Utah Navajo Trust Fund Commission, the State of Utah shall transfer the 
Trust assets to the Trust Administrator selected pursuant to this Act. 
The Trust Administrator shall establish the Utah Navajo Trust Fund with 
the assets transferred from the State of Utah.
    (b) Judgments.--Any judgments awarded the beneficiaries against the 
State by a court after the date of transfer of the assets specified in 
subsection (a) shall be transferred into the Trust Fund not later than 
90 days after any final judgment against the State.

SEC. 13. FIDUCIARY STANDARDS OF THE TRUSTEE.

     The Commission and the Trust Administrator and their officers, 
agents, and employees shall discharge their duties with respect to the 
Trust assets solely in the interest of the Utah Navajo Trust Fund and 
through it, the beneficiaries of the Trust--
            (1) for the exclusive purpose of--
                    (A) providing benefits to the beneficiaries; and
                    (B) defraying reasonable expenses of administering 
                the functions of the Trust, not to exceed 5 per cent 
                per annum;
            (2) by diversifying investments so as to minimize the risk 
        of large losses and to avoid disproportionate influence over a 
        particular industry or firm, unless under the circumstances it 
        is clearly prudent not to do so;
            (3) in accordance with this Act;
            (4) in choosing and contracting for professional investment 
        management services and in continuing the use of an investment 
        manager, the Commission must act prudently and in the interest 
        of the beneficiaries;
            (5) using the highest degree of care, skill, prudence, 
        diligence, and loyalty to--
                    (A) protect and preserve the trust assets from 
                loss, damage, unlawful alienation, waste, and 
                depletion;
                    (B) ensure that management of Trust assets promotes 
                the interest of the beneficial owner, and supports the 
                eligible use of the assets specified in this Act;
                    (C) enforce the terms of all leases or other 
                agreements that provide for the use of Trust assets, 
                and take appropriate steps to remedy trespass on Trust 
                assets; and
                    (D) account for and identify, collect, deposit, and 
                invest, in a timely manner, income due or held on 
                behalf of the beneficiaries and in accordance with this 
                Act;
            (6) maintain a verifiable system of records that, at a 
        minimum, is capable of identifying, with respect to a Trust 
        asset--
                    (A) the location of the Trust asset;
                    (B) any legal encumbrances (such as leases or 
                permits) applicable to the Trust asset;
                    (C) the user of the Trust asset;
                    (D) any rent or other payments made;
                    (E) the value of land and resources associated with 
                the Trust asset;
                    (F) dates of collections, deposits, transfers, 
                disbursements, imposition of third-party obligations, 
                statements of earnings, investment instruments, and 
                closure of all accounts relating to the trust fund 
                asset;
                    (G) documents pertaining to actions taken to 
                prevent or compensate for any diminishment of a Trust 
                asset; and
                    (H) documents that evidence the management and 
                disposition of a Trust asset;
            (7) establish and maintain a system of records that permits 
        beneficiaries to obtain information regarding Trust assets in a 
        timely manner;
            (8) invest Trust funds to ensure that the Trust remains 
        reasonably productive for the beneficiaries consistent with 
        market conditions existing at the time at which investment is 
        made; and
            (9) communicate with beneficiaries regarding the management 
        and administration of Trust assets.

SEC. 14. PROHIBITIONS WITH RESPECT TO THE TRUST.

    (a) In General.--The Commission and the Trust Administrator and 
their officers, agents, and employees shall not--
            (1) deal with the assets of the Trust in their own 
        interest;
            (2) in an individual or in any other capacity act in any 
        transaction involving the assets of the Trust on behalf of a 
        party (or represent a party) whose interests are adverse to the 
        interests of the Trust or the interests of the beneficiaries; 
        or
            (3) receive any consideration for their own personal 
        account from any party dealing with the assets of the Trust.
    (b) Liability.--Any provision in an agreement or instrument that 
purports to relieve the Commission or the Trust Administrator from 
responsibility or liability for a responsibility, obligation, or duty 
under this Act shall be void. Nothing in this Act shall preclude--
            (1) the Trust from purchasing insurance for the Commission 
        or Trust Administrator or for itself to cover liability or 
        losses occurring by reason of the act or omission of the 
        Commission or Trust Administrator if such insurance permits 
        recourse by the insurer against the Commission or Trust 
        Administrator in the case of a breach of fiduciary obligation 
        by such Commission or Trust Administrator; or
            (2) the Commission or Trust Administrator from purchasing 
        insurance to cover liability under this Act from and for their 
        own account.
    (c) Limitation on Administrative Fee Use.--The Commission or Trust 
Administrator may not use Trust Funds, nor claim as administrative 
costs, funds used to lobby any Federal, State, or tribal government nor 
to travel outside of the boundaries of the Navajo Nation other than 
necessary to meet with investment advisors or auditors or to maintain 
real property owned by the Trust Fund at the time of passage of this 
Act.

SEC. 15. LIABILITY AND BONDING.

     The Commission or Trust Administrator and their officers, 
employees, and agents who handle funds or other property of the Trust 
(hereafter in this subsection referred to as ``Trust officials'') shall 
be bonded. Such bond shall provide protection to the Trust against loss 
by reason of acts of fraud or dishonesty on the part of any Trust 
official, directly or through the connivance of others, and shall be in 
accordance with the following:
            (1) The amount of such bond shall be fixed at the beginning 
        of each fiscal year of the Trust by the Utah Navajo Trust Fund 
        Commission. Such amount shall not be less than 10 percent of 
        the amount of the funds handled.
            (2) It shall be unlawful for any Trust official to receive, 
        handle, disburse, or otherwise exercise custody or control of 
        any of the funds or other property of the Trust without being 
        bonded as required by this subsection and it shall be unlawful 
        for any Trust official, or any other person having authority to 
        direct the performance of such functions, or any of them, to be 
        performed by any Trust official, with respect to whom the 
        requirements of this subsection have not been met.
            (3) It shall be unlawful for any person to procure any bond 
        required by this subsection from any surety or other company or 
        through any agent or broker in whose business operations such 
        person has any control or significant financial interest, 
        direct or indirect.

SEC. 16. AUDIT AND REPORT.

    (a) In General.--The Trust Administrator shall account for the 
daily and annual balances of all Trust funds.
    (b) Periodic Statement of Performance.--
            (1) In general.--Not later than 20 business days after the 
        close of the second calendar quarter after the date the State 
        transfers the assets in section 12, and not later than 20 
        business days after the close of each calendar quarter 
        thereafter, the Trust Administrator shall provide to the 
        beneficiaries, through the Commission and each Chapter, for 
        whom the Financial Trustee manages the Trust assets, a 
        statement of performance for the Trust funds. Such periodic 
        Statement of Performance shall be published in a newspaper of 
        San Juan countywide and reservation wide circulation and 
        contain a summary of the statement.
            (2) Requirements.--Each statement under subparagraph (A) 
        shall identify, with respect to the period covered by the 
        statement--
                    (A) the source, type, and status of the funds;
                    (B) the beginning balance of the funds;
                    (C) the gains and losses of the funds;
                    (D) receipts and disbursements of the funds; and
                    (E) the ending balance of the funds.
    (c) Audits.--With respect to each account containing Trust assets, 
the Trust Administrator shall conduct, for each fiscal year, an audit 
of all trust funds; and include, in the first statement of performance 
after completion of the audit, a letter describing the results of the 
audit.
    (d) Independent Audits.--The Trust shall annually engage an 
independent qualified public accountant to audit the financial 
statements of the Trust.

SEC. 17. ELIGIBLE BENEFICIARIES.

     The Commission shall establish and maintain a census of eligible 
beneficiaries within 60 days of the enactment of this Act. All 
individuals listed on the census shall meet the criteria for 
beneficiaries defined in this Act.

SEC. 18. ENFORCEMENT.

     The Commission and the Trust Administrator shall be liable for any 
mismanagement, waste, fraud, abuse, or other claims, actions, or 
inaction and may be named as a defendant in any action pursuant to this 
Act. By accepting the election results for the Commission or the 
selection as the Trust Administrator, each submits to the jurisdiction 
and consents to suit for all proceedings arising from or related to 
performance of their duties under this Act, in the United States 
District Court for the State of Utah. One or more beneficiaries or the 
United States Government may bring a civil action to enjoin any act or 
practice by the Commission or the Trust Administrator or their 
employees or agents that violates any provision of this Act; or to 
obtain other appropriate relief to redress such violations, or to 
enforce any provisions of this Act. Express cause of action and normal 
equitable remedies shall be available.

SEC. 19. LIABILITY OF THE UNITED STATES.

    (a) In General.--Nothing in this Act is intended to create a cause 
of action against the United States or to allow to be maintained in any 
court any potential breach-of-trust actions brought by or on behalf of 
the beneficiaries of the Utah Navajo Trust Fund for equitable, 
monetary, or Administrative Procedure Act-based relief against the 
United States whether or not such claims specifically assert an alleged 
breach of trust, call for an accounting, or seek declaratory relief. 
The United States shall not be liable for any actions or inactions of 
the Commission or the Trust Administrator.
    (b) Certain Liability.--Notwithstanding subsection (a), nothing in 
this Act shall affect the liability of the United States for misdeeds 
by the United States when it had control over Trust assets.
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