[Congressional Record (Bound Edition), Volume 148 (2002), Part 12]
[Senate]
[Pages 17188-17189]
[From the U.S. Government Publishing Office, www.gpo.gov]




                 QUINAULT PERMANENT FISHERIES FUND ACT

  Mr. REID. Mr. President, I ask unanimous consent the Senate proceed 
to the consideration of Calendar No. 562, S. 1308.
  The PRESIDING OFFICER. The clerk will report the bill by title.
  The legislative clerk read as follows:

       A bill (S. 1308) to provide for the use and distribution of 
     the funds awarded to the Quinault Indian Nation under United 
     States Claims Court Dockets 772-72, 773-71, and 775-71, and 
     for other purposes.

  There being no objection, the Senate proceeded to consider the bill.
  Mr. REID. Mr. President, I ask unanimous consent that the bill be 
read the third time and passed, the motion to reconsider be laid on the 
table, with no intervening action or debate, and that any statements 
relating to the bill be printed in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The bill (S. 1308) was read the third time and passed, as follows:

                                S. 1308

       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 ``Quinault Permanent Fisheries 
     Fund Act''.

     SEC. 2. DISTRIBUTION OF JUDGMENT FUNDS.

       (a) Funds To Be Deposited Into Separate Accounts.--Subject 
     to section 3(c), the funds appropriated on September 19, 
     1989, in satisfaction of an award granted to the Quinault 
     Indian Nation under Dockets 772-71, 773-71, 774-71, and 775-
     71 before the United States Claims Court, less attorney fees 
     and litigation expenses, and including all interest accrued 
     to the date of disbursement, shall be disbursed by the 
     Secretary of the Interior and deposited into 3 separate 
     accounts to be established and maintained by the Quinault 
     Indian Nation (hereinafter in this Act referred to as the 
     ``Tribe'') as follows:
       (1) An account for the principal amount of the judgment 
     funds. Such funds shall be used to create a Permanent 
     Fisheries Fund. The principal funds may not be expended by 
     the Tribe and shall be invested by the Tribe in accordance 
     with the Tribe's investment policy.
       (2) An account for the investment income earned on the 
     Permanent Fisheries Fund from the date that the funds are 
     disbursed under this section. These funds shall be available 
     for fisheries enhancement projects and the costs associated 
     with administering the Permanent Fisheries Fund. The specific 
     fisheries enhancement projects for which such funds are used 
     shall be specified in the Tribe's approved annual budget.
       (3) An account for the investment income earned on the 
     judgment funds from September 19, 1989, to the date of the 
     disbursement of the funds to the Tribe under this section. 
     These funds shall be available to the Tribe for tribal 
     government activities. The specific tribal government 
     activities shall be specified in the Tribe's approved annual 
     budget.
       (b) Determination of Amount of Funds Available.--The 
     Quinault Business Committee, as the governing body of the 
     Tribe, has the discretion to determine the amount of funds 
     available for expenditure under paragraphs (2) and (3) of 
     subsection (a) provided that the amounts are specified in the 
     Tribe's approved annual budget.
       (c) Annual Audit.--The records and investment activities of 
     the 3 accounts specified in subsection (a) shall be 
     maintained separately by the Tribe and shall be subject to an 
     annual audit.
       (d) Reporting of Investment Activities and Expenditures.--
     Not later than 120 days after the close of the Tribe's fiscal 
     year, a full accounting of the previous fiscal year's 
     investment activities and expenditures from all funds subject 
     to this Act, which may be in the form of the annual audit, 
     shall be made available to the tribal membership.

[[Page 17189]]



     SEC. 3. GENERAL PROVISIONS.

       (a) Deadline for Disbursement of Funds.--Not later than 30 
     days after the date of the enactment of this Act, all funds 
     subject to this Act shall be disbursed to the Tribe.
       (b) United States Liability.--Upon disbursement to the 
     Tribe of the funds pursuant to this Act, the United States 
     shall no longer have any trust responsibility or liability 
     for the investment, supervision, administration, or 
     expenditure of the judgment funds.
       (c) Application of Other Law.--All funds distributed under 
     this Act are subject to the provisions of section 7 of the 
     Indian Tribal Judgment Funds Use or Distribution Act (25 
     U.S.C. 1407), relating to the use or distribution of certain 
     judgment funds awarded by the Indian Claims Commission or the 
     Court of Claims.

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