[Senate Report 109-343]
[From the U.S. Government Publishing Office]
Calendar No. 623
109th Congress Report
SENATE
2d Session 109-343
======================================================================
CHEYENNE RIVER SIOUX TRIBE EQUITABLE COMPENSATION AMENDMENTS ACT OF
2005
_______
September 20, 2006.--Ordered to be printed
_______
Mr. McCain, from the Committee on Indian Affairs, submitted the
following
R E P O R T
[To accompany S. 1535]
The Committee on Indian Affairs, to which was referred the
bill (S. 1535) to amend the Cheyenne River Sioux Tribe
Equitable Compensation Act to provide compensation to members
of the Cheyenne River Sioux Tribe for damage resulting from the
Oahe Dam and Reservoir Project, and for other purposes, having
considered the same, reports favorably thereon with an
amendment in the nature of a substitute and recommends that the
bill (as amended) do pass.
Purpose
S. 1535 amends the Cheyenne River Sioux Tribe Equitable
Compensation Act (P.L. 106-511) to allow the Tribe to
compensate individual landowners from the interest on the
Cheyenne River Sioux Tribe Equitable Compensation Fund;
accelerate payments to the Cheyenne River Sioux Tribe Equitable
Compensation Fund; and direct the Secretary of the Treasury to
invest the Fund in interest bearing obligations of the United
States.
Background
In the late 1940s, the Army Corps of Engineers commenced
construction of the Oahe Dam and Reservoir Project along the
Missouri River. By the time it was dedicated in 1962, the dam
had inundated thousands of acres of the Cheyenne River Sioux
Tribe's reservation lands and displaced the populations of
several Indian communities living near the river.
In 1984, the Secretary of the Interior established a Joint
Tribal-Federal Advisory Committee (JTAC) to examine and make
recommendations with respect to the effects of the impoundment
of waters under the Pick-Sloan Program on the tribes along the
Missouri River. The JTAC study concluded that the compensation
that was provided to the tribes in the 1950's indeed was
inadequate and did not take into account the full extent of the
tribes' losses.
In 1993, the Cheyenne River Sioux Tribe began seeking
additional compensation for the lands taken from it and its
members and, in 2000, Congress passed Public Law 106-511. Title
I of this law provided additional compensation in the amount of
$290,722,958 to the Tribe for 104,492 acres of land taken as a
result of the Oahe Dam project. The law provided for the
establishment in the U.S. Treasury of the Cheyenne River Sioux
Tribal Recovery Trust Fund, into which $290,722,958, plus
interest, would be deposited in 2011. Beginning in 2011, the
Tribe is authorized to withdraw the interest earned on the Fund
pursuant to a plan that it is required to develop to promote
the economic development, education, infrastructure development
and/or social welfare of the Tribe and its members. The law
prohibits the Tribe from withdrawing any amount of the
principal or distributing the funds to members of the Tribe on
a per capita basis.
S. 1535 recognizes that although the Cheyenne River Sioux
Tribe was provided additional compensation in 2000, the
individual members of the Tribe who lost their individually-
owned lands were not. S. 1535 would amend Public Law 106-511 to
authorize the Tribe to use funds from the Cheyenne River Sioux
Tribal Recovery Trust Fund to provide additional compensation
to its members whose lands were taken.
The bill would also require the Secretary of the Treasury
to begin depositing monies into the Fund beginning on the first
day of the fiscal year beginning after the date of enactment
and would change the manner in which interest is accrued on the
Fund by requiring that the Lehman Government Bond index--or a
similar index determined by the Secretary of the Treasury,
after consulting with the Tribe--be applied in determining the
interest. Current law requires the Secretary of the Treasury to
deposit into the Fund an amount that equals the amount of
interest that would have accrued had the principal been
deposited in 2001 and invested in interest-bearing obligations
of the United States, or in obligations guaranteed as to both
principal and interest by the United States. This provision was
included in the substitute amendment after consultation with
the Department of the Treasury with the support of the
Department. See infra Letter from Department of the Treasury to
Rep. Richard Pombo, September 8, 2006 (included herein under
Executive Communications).
Legislative History
S. 1535 was introduced on July 28, 2005, by Senator
Johnson, for himself and for Senator Thune, and was referred to
the Committee on Indian Affairs. On June 14, 2006, a hearing
was held by the Committee. On August 2, 2006, S. 1535 was
unanimously passed out of the Committee and ordered reported
with amendment in the nature of the substitute.
Committee Recommendation and Tabulation of Vote
On August 2, 2006, the Committee, in an open business
session, considered S. 1535. By voice vote, the Committee
ordered the bill reported favorably, with an amendment in the
nature of a substitute, to the full Senate with a
recommendation that the bill do pass.
Section-by-Section Analysis of the Substitute Amendment
Section 1. Short title
Section 1 of the substitute amendment amends the title in
S. 1535 to ``Cheyenne River Sioux Tribe Equitable Compensation
Amendments Act of 2006''.
Section 2. Findings
Section 2 of the substitute amendment makes findings that
the Oahe Dam and Reservoir Project flooded the fertile bottom
land of the Cheyenne River Sioux Reservation greatly damaging
the economy and cultural resources of the Cheyenne River Sioux
Tribe. The Tribe was provided additional compensation by
Congress with the creation of the Cheyenne River Sioux Tribal
Recovery Trust Fund Act, however, that act did not provide for
additional compensation to individual landowners that lost land
as a result of the Oahe Dam and Reservoir Project. The purposes
of this Act are to allow the Cheyenne River Sioux Tribe to use
funds from the Tribal Recovery Trust Fund to compensate
individual land owners that lost land as a result of the Oahe
Dam and Reservoir Project and to accelerate capitalization of
the Cheyenne River Sioux Tribal Recovery Trust Fund.
Section 3. Cheyenne River Sioux Tribe Equitable Compensation
Section 3 amends the Cheyenne River Sioux Tribe Equitable
Compensation Act to allow the Tribe to compensate individual
landowners who lost land to the United States for the Oahe Dam
and Reservoir Project from the Tribal Recovery Trust Fund. The
amendments directs the Secretary of the Treasury to make five
deposits to the Cheyenne River Sioux Tribal Recovery Trust Fund
beginning the first fiscal year after enactment from the
general fund of the Treasury. The amount to be deposited in
each payment would be equal to $58,144,591.60; and an
additional amount equal to the interest that would have accrued
if it had been credited on October 1, 2001, the first fiscal
year after the Tribal Recovery Trust Fund was enacted by P.L.
106-511.
The Secretary of the Treasury is directed to invest the
Fund only in interest bearing obligations of the United States
and separate the investments made on the principal and on the
interest into two separate accounts within the Tribal Recovery
Trust Fund, the principal account and the interest account. The
interest earned from investing amounts in the principal account
will be transferred to the interest account.
The principal account will be invested in equally divisible
portions in the next publicly issued Treasury obligations
having a 2-year maturity, a 5-year maturity, and a 10-year
maturity, respectively. The interest account shall be invested
and reinvested in eligible obligations having the shortest
available maturity until the date on which the amounts are
withdrawn by the Secretary of the Treasury and transferred to
the Secretary of the Interior for use in accordance with the
Act.
At least once each year, the Secretary of the Treasury
shall review with the Tribe the results of the investment
activities and financial status of the Fund during the
preceding calendar year. Before making a modification to the
investment structure as authorized by the Act, the Secretary of
the Treasury shall consult with the Tribe with respect to the
modification.
On the first day of the fiscal year after enactment, and on
the first day of each fiscal year thereafter, the Secretary of
the Treasury shall withdraw and transfer all funds in the
interest account of the Fund to the Secretary of the Interior
for use in accordance with the Act.
Payments of additional compensation to individual
landowners or their heirs shall not be deposited or transferred
into any member landowner's Individual Indian Money and shall
not exceed an amount equal to 44.3 percent of the amount
transferred by the Secretary of the Interior to the Tribe. The
Secretary of the Interior shall provide to the Tribe any record
requested by the Tribe to identify the heirs of member land-
owners.
Section 3 also amends Section 7 of the underlying law to
extinguish all claims of an individual landowner, or their
heirs, on the acceptance of any payment by the Tribe for
damages resulting from the taking by the United States for the
Oahe Dam and Reservoir Project of the Pick-Sloan Missouri River
Basin program.
Cost and Budgetary Considerations
The Congressional Budget Office cost estimate for S. 1535
is set forth below:
U.S. Congress,
Congressional Budget Office,
Washington, DC, August 21, 2006.
Hon. John McCain,
Chairman, Committee on Indian Affairs,
U.S. Senate, Washington, DC.
Dear Mr. Chairman: The Congressional Budget Office has
prepared the enclosed cost estimate for S. 1535, the Cheyenne
River Sioux Tribe Equitable Compensation Amendments Act of
2006.
If you wish further details on this estimate, we will be
pleased to provide them. The CBO staff contact is Daniel
Hoople.
Sincerely,
Donald B. Marron,
Acting Director.
Enclosure.
S. 1535--Cheyenne River Sioux Tribe Equitable Compensation Amendments
Act of 2006
Summary: S. 1535 would amend the Cheyenne River Sioux Tribe
Equitable Compensation Act, which was enacted in 2000 to
resolve a dispute between that tribe and the federal
government. That act established a trust fund for the benefit
of the tribe and specifies a schedule for federal deposits to
the fund. S. 1535 would change the timing and amount of those
deposits. CBO estimates that enacting S. 1535 would increase
direct spending by $446 million over the 2007-2011 period (with
most of that increase in 2011), but would decrease direct
spending by $442 million in 2012, for a net change in direct
spending of $4 million over the 2007-2016 period. Enacting the
bill would not affect revenues.
S. 1535 contains no new intergovernmental or private-sector
mandates as defined in the Unfunded Mandates Reform Act (UMRA)
and would impose no costs on state, local, or tribal
governments. Enacting this legislation would benefit the
Cheyenne River Sioux Tribe.
Estimated cost to the Federal Government: The estimated
budgetary impact of the bill is shown in the following table.
The budgetary impact of this legislation falls within budget
function 450 (community and regional development).
----------------------------------------------------------------------------------------------------------------
By fiscal year, in millions of dollars--
--------------------------------------------------------------------------------
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
----------------------------------------------------------------------------------------------------------------
CHANGES IN DIRECT SPENDING
Spending Under Current Law:
Transfers to Cheyenne River
Sioux Tribal Recovery
Trust Fund:
Estimated Budget 0 0 0 0 0 442 0 0 0 0
Authority.............
Estimated Outlays...... 0 0 0 0 0 442 0 0 0 0
Proposed Changes:
Transfers to Cheyenne River
Sioux Tribal Recovery
Trust Fund:
Estimated Budget 0 0 0 0 407 -442 0 0 0 0
Authority.............
Estimated Outlays...... 0 0 0 0 407 -442 0 0 0 0
Expenditure of Interest
Income:
Estimated Budget 4 8 12 15 0 0 0 0 0 0
Authority.............
Estimated Outlays...... 4 8 12 15 0 0 0 0 0 0
Total Changes:
Estimated Budget 4 8 12 15 407 -442 0 0 0 0
Authority.............
Estimated Outlays...... 4 8 12 15 407 -442 0 0 0 0
Spending Under S. I535:
Estimated Budget 4 8 12 15 407 0 0 0 0 0
Authority.............
Estimated Outlays...... 4 8 12 15 407 0 0 0 0 0
----------------------------------------------------------------------------------------------------------------
Basis of estimate: By changing the amount and timing of
scheduled deposits to the affected tribal trust fund, CBO
estimates that enacting S. 1535 would reduce net direct
spending by $35 million over the 2007-2016 period. We also
estimate that allowing the tribe to spend interest earned on
balances in the trust fund would increase direct spending by $4
million in 2007 and $39 million over the 2007-2016 period.
Thus, CBO estimates that enacting the bill would increase net
direct spending by $4 million over the next 10 years. For this
estimate, CBO assumes that S. 1535 will be enacted before the
end of fiscal year 2006 and that deposits to the trust fund
would begin in 2007.
Transfers to the trust fund under current law
In 2000, the Congress enacted the Cheyenne River Sioux
Tribe Equitable Compensation Act to compensate the tribe for
104,492 acres of land acquired by the federal government for
the Oahe Dam and Reservoir Project, which is part of the Pick-
Sloan Missouri River Basin program. The act created the
Cheyenne River Sioux Tribal Recovery Trust Fund and directs the
Secretary of the Treasury to transfer into the trust fund $291
million plus the amount of interest that would be accrued if
the amount had been deposited in fiscal year 2002. This total
transfer, which CBO estimates at approximately $442 million, is
set to occur in 2012 under current law. Once the Secretary
completes the transfer, all monetary claims against the United
States for the Oahe Dam and Reservoir Project will be
extinguished. At that time, consistent with the treatment of
similar tribal trust funds, amounts within the trust fund will
be considered under tribal ownership.
The federal budget excludes trust funds that are held and
managed in a fiduciary capacity by the federal government on
behalf of Indian tribes. Because the affected trust fund will
be considered nonbudgetary once it is fully capitalized, the
scheduled deposit to the trust fund in 2012 will be considered
direct spending for a transfer of funds to a nonfederal entity.
Thereafter, subsequent cash flows related to the fund will have
no effect on the federal budget.
Transfers to the trust fund under S. 1535
S. 1535 would direct the Secretary of the Treasury to begin
deposits to the trust fund earlier than under current law. For
each of the five years following enactment, the bill would
direct the Secretary to transfer to the fund $58 million plus
the amount of interest that would have accrued had such a
deposit been made in 2001. CBO estimates such transfers would
total $407 million over the 2007-2011 period--$290 million for
principal and $117 million for forgone interest.
Because the conditions necessary to remove the fund from
the federal budget (i.e. final extinguishment of claims against
the federal government) would not be met until the final
deposit is made, transfers to the fund during the first four
years would be considered intragovernmental and would have no
net effect on the federal budget. Upon the final deposit in
2011, however, the trust fund would become nonbudgetary.
Reclassifying the trust fund at that time would be recorded in
the budget as direct spending of the full balance of the fund--
$407 million.
By accelerating the schedule of payments to the trust fund,
S. 1535 would eliminate the Secretary's current obligation to
capitalize the trust fund in fiscal year 2012. As a result, CBO
estimates that proposed changes to federal transfers would
reduce direct spending by $442 million in that year and by $35
million over the 2007-2016 period.
Expenditure of interest income under S. 1535
Current law directs the Secretary to distribute any
interest earned by the trust fund to the tribe. Under the
current schedule, the fund will carry no balances and,
therefore, will generate no interest until it is fully
capitalized and reclassified as nonbudgetary in 2012.
Therefore, under current law, the federal budget does not
include any direct spending for the tribe's use of interest.
Under S. 1535, interest would accrue on deposits made in each
of the four years prior to the reclassification of the trust
fund in 2011. CBO estimates that distributing interest to the
tribe in those years would increase direct spending by $4
million in 2007 and $39 million over the 2007-2016 period.
Estimated impact on state, local, and tribal governments:
S. 1535 contains no intergovernmental mandates as defined in
UMRA and would impose no costs on state, local, or tribal
government. Enacting this legislation would benefit the
Cheyenne River Sioux Tribe.
Estimated impact on the private sector: This bill contains
no new private-sector mandates as defined in UMRA.
Estimate prepared by: Federal Costs: Daniel Hoople. Impact
on State, Local, and Tribal Governments: Marjorie Miller.
Impact on the Private Sector: Carla-Marie Ulerie.
Estimate approved by: Peter H. Fontaine, Deputy Assistant
Director for Budget Analysis.
Regulatory and Paperwork Impact Statement
Paragraph 11(b) of rule XXVI of the Standing Rules of the
Senate requires that each report accompanying a bill to
evaluate the regulatory and paperwork impact that would be
incurred in carrying out the bill. The Committee has concluded
that the regulatory and paperwork impacts of S. 1535 should be
de minimis.
Executive Communications
The Committee has received the following executive
communication on S. 1535.
Changes In Existing Law
In compliance with subsection 12 of rule XXVI of the
Standing Rules of the Senate, changes in existing law made by
the bill S. 1535, as ordered reported, are shown as follows
(existing law proposed to be omitted is enclosed in black
brackets, new language to be added in italic, existing law to
which no change is proposed is shown in roman):
CHEYENNE RIVER SIOUX TRIBE EQUITABLE COMPENSATION AMENDMENTS ACT OF
2006
Public Law 106-511; 114 Stat. 2365
* * * * * * *
SEC. 102. FINDINGS AND PURPOSES.
(a) Findings.--Congress finds that--
(1) by enacting the Act of December 22, 1944 (58
Stat. 887, 665; 33 U.S.C. 701-1 et seq.), commonly
known as the ``Flood Control Act of 1944'', Congress
approved the Pick-Sloan Missouri River Basin program
referred to in this section as the ``Pick-Sloan
program''--
(A) to promote the general economic
development of United States;
(B) to provide for irrigation above Sioux
City, Iowa;
(C) to protect urban and rural areas from
devastating floods of the Missouri River; and
(D) for other purposes;
(2) the Oahe Dam and Reservoir project--
(A) is a major component of the Pick-Sloan
program, and contributes to the economy of the
United States by generating a substantial
amount of hydropower and
(B) overlies the eastern boundary of the
Cheyenne River Sioux Indian Reservation; and
(C) has not only contributed little to the
economy of the Tribe, but has severely damaged
the economy of the Tribe and members of the
Tribe by inundating the fertile, wooded bottom
lands of the Tribe along the Missouri River
that constituted the most productive
agricultural and pastoral lands of the Tribe
and the homeland of the members of the Tribe;
(3) the Secretary of the Interior appointed a Joint
Tribal Advisory Committee that examined the Oahe Dam
and Reservoir project and concluded that--
(A) the United States did not justly or
fairly compensate the Tribe and member
landowners for the Oahe Dam and Reservation
project, under which the United States acquired
104,492 acres of land of the Tribe and member
landowners; and
(B) the Tribe and member landowners should be
adequately compensated for that land;
[(A) the Federal Government did not justify,
or fairly compensate the Tribe for, the Oahe
Dam and Reservoir project when the Federal
Government acquired acres of land of the Tribe
for that project; and
[(B) the Tribe should be adequately
compensated for the land acquisition described
in subparagraph (A);]]
* * * * * * *
(b) Purposes.--The purposes of this title are as follows:
(1) To provide for additional financial compensation
to the Tribe and member landowners for the acquisition
by the Federal Government of 104,492 acres of land of
the Tribe and member landowners for the Oahe Dam and
Reservoir project in a manner consistent with the
determinations of the Comptroller General described in
subsection (a)(4).
* * * * * * *
SEC. 103. DEFINITIONS.
In this title:
(1) Member landowner.--The term `member landowner'
means a member of the Tribe (or an heir of such a
member) that owned land (including land allotted under
the Act of February 8, 1887 (24 Stat. 388, chapter
119)) located on the Cheyenne River Sioux Reservation
that was acquired by the United States for the Oahe Dam
and Reservoir Project.
(2) Tribal council.--The term ``Tribal Council''
means the governing body of the Tribe.
[(1)] (3) Tribe.--The term ``Tribe'' means the
Cheyenne River Sioux Tribe, which is comprised of the
Itazipco, Siha Sapa, Minniconjou, and Oohenumpa bands
of the Great Sioux Nation that reside on the Cheyenne
River Reservation, located in central South Dakota.
* * * * * * *
SEC. 104. CHEYENNE RIVER SIOUX TRIBAL RECOVERY TRUST FUND.
* * * * * * *
(b) Funding.--On the first day of the fiscal year beginning
after the date of enactment of the Cheyenne River Sioux Tribe
Equitable Compensation Amendments Act of 2006 and on the first
day of each of the following 4 fiscal years (referred to in
this section as the `capitalization dates'), the Secretary of
the Treasury shall deposit into the Fund, from amounts in the
general fund of the Treasury--
(1) $58,144,591.60; and
(2) an additional amount equal to the amount of
interest that would have accrued if--
(A) the amount described in paragraph (1) had
been--
(i) credited to the principal account
as described in subsection
(c)(2)(B)(i)(I) on the first day of the
fiscal year beginning October 1, 2001;
and
(ii) invested as described in
subsection (c)(2)(C) during the period
beginning on the date described in
clause (i) and ending on the last day
of the fiscal year before the fiscal
year in which that amount is deposited
into the Fund; and
(B) the interest that would have accrued
under subparagraph (A) during the period
described in subparagraph (A)(ii) had been--
(i) credited to the interest account
under subsection (c)(2)(B)(ii); and
(ii) invested during that period in
accordance with subsection
(c)(2)(D)(I).
[(b) Funding.--On the first day of the 11th fiscal year
that begins after the date of enactment of this Act, the
Secretary of the Treasury shall, from the General Fund of the
Treasury, deposit into the Fund established under subsection
(a)--
[(1) $290,722,958; and
[(2) an additional amount that equals the amount of
interest that would have accrued on the amount
described in paragraph (1) if such amount had been
invested in interest-bearing obligations of the United
States, or in obligations guaranteed as to both
principal and interest by the United States, on the
first day of the first fiscal year that begins after
the date of enactment of this Act and compounded
annually thereafter.]
* * * * * * *
(c) Investments.--
(1) Eligible obligations.--Notwithstanding any other
provision of law, the Secretary of the Treasury shall
invest the Fund only in interest-bearing obligations of
the United States issued directly to the Fund.
(2) Investment requirements.--
(A) In general.--The Secretary of the
Treasury shall invest the Fund in accordance
with this paragraph.
(B) Separate investments of principal and
interest.--
(i) Principal account.--The amounts
deposited into the Fund under
subsection (b)(1) shall be--
(I) credited to a principal
account within the Fund
(referred to in this paragraph
as the `principal account');
and
(II) invested in accordance
with subparagraph (C).
(ii) Interest account.--
(I) In general.--The interest
earned from investing amounts
in the principal account shall
be--
(aa) transferred to a
separate interest
account within the Fund
(referred to in this
paragraph as the
`interest account');
and
(bb) invested in
accordance with
subparagraph (D).
(II) Crediting.--The interest
earned from investing amounts
in the interest account, and
the amounts deposited into the
Fund under subsection (b)(2),
shall be credited to the
interest account.
(C) Investment of principal account.--
(i) Initial investment.--Amounts in
the principal account shall be
initially invested in eligible
obligations with the shortest available
maturity.
(ii) Subsequent investments.--
(I) In general.--On the date
on which the amount in the
principal account is divisible
into 3 substantially equal
portions, each portion shall be
invested in eligible
obligations that are identical
(except for transferability) to
the next-issued publicly-issued
Treasury obligations having a
2-year maturity, a 5-year
maturity, and a 10-year
maturity, respectively.
(II) Maturity of
obligations.--As each 2-year,
5-year, and 10-year eligible
obligation under subclause (I)
matures, the principal of the
maturing eligible obligation
shall be initially invested in
accordance with clause (i)
until the date on which the
principal is reinvested
substantially equally in the
eligible obligations that are
identical (except for
transferability) to the next-
issued publicly-issued Treasury
obligations having 2-year, 5-
year, and 10-year maturities.
(iii) Discontinuation of issuance of
obligations.--If the Department of the
Treasury discontinues issuing to the
public obligations having 2-year, 5-
year, or 10-year maturities, the
principal of any maturing eligible
obligation shall be reinvested
substantially equally in available
eligible obligations that are identical
(except for transferability) to the
next-issued publicly-issued Treasury
obligations with maturities of longer
than 1 year.
(D) Investment of interest account.--
(i) Before each capitalization
date.--For purposes of subsection
(b)(2)(B), amounts considered as if
they were in the interest account of
the Fund shall be invested in eligible
obligations that are identical (except
for transferability) to publicly-issued
Treasury obligations that have
maturities that coincide, to the
greatest extent practicable, with the
applicable capitalization date for the
Fund.
(ii) On and after each capitalization
date.--On and after each capitalization
date, amounts in the interest account
shall be invested and reinvested in
eligible obligations that are identical
(except for transferability) to
publicly-issued Treasury obligations
that have maturities that coincide, to
the greatest extent practicable, with
the date on which the amounts will be
withdrawn by the Secretary of the
Treasury and transferred to the
Secretary of the Interior for use in
accordance with subsection (d).
(E) Par purchase price.--
(i) In general.--To preserve in
perpetuity the amount in the principal
account, the purchase price of an
eligible obligation purchased as an
investment of the principal account
shall not exceed the par value of the
obligation.
(ii) Treatment.--At the maturity of
an eligible obligation described in
clause (i), any discount from par in
the purchase price of the eligible
obligation shall be treated as interest
paid at maturity.
(F) Holding to maturity.--Eligible
obligations purchased pursuant to this
paragraph shall be held to their maturities.
(3) Annual review of investment activities.--Not less
frequently than once each calendar year, the Secretary
of the Treasury shall review with the Tribe the results
of the investment activities and financial status of
the Fund during the preceding calendar year.
(4) Modifications.--
(A) In general.--If the Secretary of the
Treasury determines that investing the Fund in
accordance with paragraph (2) is not
practicable or would result in adverse
consequences to the Fund, the Secretary of the
Treasury shall modify the requirements to the
least extent necessary, as determined by the
Secretary of the Treasury.
(B) Consultation.--Before making a
modification under subparagraph (A), the
Secretary of the Treasury shall consult with
the Tribe with respect to the modification.
[(c) Investment of Trust Fund.--It shall be the duty of the
Secretary of the Treasury to invest such portion of the Fund as
is not, in the Secretary of the Treasury's judgment, required
to meet current withdrawals. Such investments may be made only
in interest-bearing obligations of the United States or in
obligations guaranteed as to both principal and interest by the
United States. The Secretary of the Treasury shall deposit
interest resulting from such investments into the Fund.]
* * * * * * *
(d) Payment of Interest to Tribe.--
(1) Withdrawal of interest.--Beginning on the first
day of the fiscal year beginning after the date of
enactment of the Cheyenne River Sioux Tribe Equitable
Compensation Amendments Act of 2006, and on the first
day of each fiscal year thereafter, the Secretary of
the Treasury shall withdraw and transfer all funds in
the interest account of the Fund to the Secretary of
the Interior for use in accordance with paragraph (2),
to be available without fiscal year limitation.
[(1) Withdrawal of interest.--Beginning on the first
day of the 11th fiscal year after the date of enactment
of this Act and, on the first day of each fiscal year
thereafter, the Secretary of the Treasury shall
withdraw the aggregate amount of interest deposited
into the Fund for that fiscal year and transfer that
amount to the Secretary of the Interior for use in
accordance with paragraph (2). Each amount so
transferred shall be available without fiscal year
limitation.]
* * * * * * *
(f) Plan.--
(1) In general.--Not later than 18 months after the
date of enactment of this Act, the governing body of
the Tribe shall prepare a plan for the use of the
payments to the Tribe under subsection (d) (referred to
in this subsection as the ``plan'').
(2) Contents of plan.--The plan shall provide for the
manner in which the Tribe shall expend payments to the
Tribe under subsection (d) to promote--
(A) economic development;
(B) infrastructure development; (C) the
educational, health, recreational, and social
welfare objectives of the Tribe and its
members; or (D) any combination of the
activities described in subparagraphs (A)
through (c).
(3) Member landowners.--
(A) Additional compensation.--
(i) In general.--Except as provided
in clause (iii), the plan may provide
for the payment of additional
compensation to member landowners for
acquisition of land by the United
States for use in the Oahe Dam and
Reservoir Project.
(ii) Determination of heirs.--An heir
of a member landowner shall be
determined in accordance with the
probate code governing the estate of
the member landowner.
(iii) Exception.--During any fiscal
year, payments of additional
compensation to a member landowner
under clause (i) shall not--
(I) be deposited or
transferred into--
(aa) the Individual
Indian Money account of
the member landowner;
or
(bb) any other fund
held by the United
States on behalf of the
member landowner; or
(II) exceed an amount equal
to 44.3 percent of the amount
transferred by the Secretary of
the Interior to the Tribe under
paragraph (2).
(B) Provision of records.--To assist the
Tribe in processing claims of heirs of member
landowners for land acquired by the United
States for use in the Oahe Dam and Reservoir
Project, the Secretary of the Interior shall
provide to the Tribe, in accordance with
applicable laws (including regulations), any
record requested by the Tribe to identify the
heirs of member landowners by the date that is
90 days after the date of receipt of a request
from the Tribe.''.
[(3)] (4) Plan review and revision.--
(A) In general.--The Tribal Council shall
make available for review and comment by the
members of the Tribe a copy of the plan before
the plan becomes final, in accordance with
procedures established by the Tribal Council.
(B) Updating of plan.--The Tribal Council
may, on an annual basis, revise the plan to
update the plan. In revising the plan under
this subparagraph, the Tribal Council shall
provide the members of the Tribe opportunity to
review and comment on any proposed revision to
the plan.
(C) Consultation.--In preparing the plan and
any revisions to update the plan, the Tribal
Council shall consult with the Secretary of the
Interior and the Secretary of Health and Human
Services.
[(4)] (5) Audit.--
(A) In general.--The activities of the Tribe
in carrying out the plan shall be audited as
part of the annual single-agency audit that the
Tribe is required to prepare pursuant to the
Office of Management and Budget circular
numbered A-133.
(B) Determination by auditors.--The auditors
that conduct the audit described in
subparagraph (A) shall--
(i) determine whether funds received
by the Tribe under this section for the
period covered by the audit were
expended to carry out the plan in a
manner consistent with this section;
and
(ii) include in the written findings
of the audit the determination made
under clause (i).
(C) Inclusion of findings with publication of
proceedings of tribal council.--A copy of the
written findings of the audit described in
subparagraph (A) shall be inserted in the
published minutes of the Tribal Council
proceedings for the session at which the audit
is presented to the Tribal Council.
* * * * * * *
SEC. 105. ELIGIBILITY OF TRIBE FOR CERTAIN PROGRAMS AND SERVICES.
No payment made to the Tribe or any member landowner under
this title shall result in the reduction or denial of any
service or program with respect to which, under Federal law--
(1) the Tribe is otherwise entitled because of the
status of the Tribe as a federally recognized Indian
tribe; or
(2) any individual who is a member of the Tribe is
entitled because of the status of the individual as a
member of the Tribe.
* * * * * * *
SEC. 107. EXTINGUISHMENT OF CLAIMS.
(a) In General.--On the date on which the final payment is
deposited into the Fund under section 104(b), all monetary
claims that the Tribe has or may have against the United States
for the taking by the United States of land and property of the
Tribe for the Oahe Dam and Reservoir Project of the Pick-Sloan
Missouri River Basin program shall be extinguished.
(b) Effect of Acceptance of Payment.--On acceptance by a
member landowner or an heir of a member landowner of any
payment by the Tribe for damages resulting from the taking by
the United States of land or property of the Tribe for the Oahe
Dam and Reservoir Project of the Pick-Sloan Missouri River
Basin program, all monetary claims that the member landowner or
heir has or may have against the United States for the taking
shall be extinguished.
[Upon the deposit of funds (together with interest) into
the Fund under section 104(b), all monetary claims that the
Tribe has or may have against the United States for the taking,
by the United States, of the land and property of the Tribe for
the Oahe Dam and Reservoir Project of the Pick-Sloan Missouri
River Basin program shall be extinguished.]