[106th Congress Public Law 133]
[From the U.S. Government Printing Office]
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[DOCID: f:publ133.106]
[[Page 113 STAT. 1682]]
Public Law 106-133
106th Congress
An Act
To protect the permanent trust funds of the State of Arizona from
erosion due to inflation and modify the basis on which distributions are
made from those funds. <<NOTE: Dec. 7, 1999 - [H.R. 747]>>
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled, <<NOTE: Arizona
Statehood and Enabling Act Amendments of 1999.>>
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Arizona Statehood and Enabling Act
Amendments of 1999''.
SEC. 2. PROTECTION OF TRUST FUNDS OF STATE OF ARIZONA.
(a) In General.--Section 28 of the Act of June 20, 1910 (36 Stat.
574; chapter 310), is amended in the first paragraph by adding at the
end the following: ``The trust funds (including all interest, dividends,
other income, and appreciation in the market value of assets of the
funds) shall be prudently invested on a total rate of return basis.
Distributions from the trust funds shall be made as provided in Article
10, Section 7 of the Constitution of the State of Arizona.''.
(b) Conforming Amendments.--
(1) Section 25 of the Act of June 20, 1910 (36 Stat. 573;
chapter 310), is amended in the proviso of the second paragraph
by striking ``the income therefrom only to be used'' and
inserting ``distributions from which shall be made in accordance
with the first paragraph of section 28 and shall be used''.
(2) Section 27 of the Act of June 20, 1910 (36 Stat. 574;
chapter 310), is amended by striking ``the interest of which
only shall be expended'' and inserting ``distributions from
which shall be made in accordance with the first paragraph of
section 28 and shall be expended''.
SEC. 3. USE OF MINERS' HOSPITAL ENDOWMENT FUND FOR ARIZONA PIONEERS'
HOME.
(a) In General.--Section 28 of the Act of June 20, 1910 (36 Stat.
574; chapter 310), is amended in the second paragraph by inserting
before the period at the end the following: ``, except that amounts in
the Miners' Hospital Endowment Fund may be used for the benefit of the
Arizona Pioneers' Home''.
(b) Effective Date.--The amendment made by subsection (a) shall be
deemed to have taken effect on June 20, 1910.
SEC. 4. CONSENT OF CONGRESS TO AMENDMENTS TO CONSTITUTION OF STATE OF
ARIZONA.
Congress consents to the amendments to the Constitution of the State
of Arizona proposed by Senate Concurrent Resolution
[[Page 113 STAT. 1683]]
1007 of the 43rd Legislature of the State of Arizona, Second Regulator
Session, 1998, entitled ``Senate Concurrent Resolution requesting the
Secretary of State to return Senate Concurrent Resolution 1018, Forty-
Third Legislature, First Regular Session, to the Legislature and submit
the Proposition contained in Sections 3, 4, and 5 of this Resolution of
the proposed amendments to Article IX, Section 7, Article X, Section 7,
and Article XI, Section 8, Constitution of Arizona, to the voters;
relating to investment of State monies'', approved by the voters of the
State of Arizona on November 3, 1998.
Approved December 7, 1999.
LEGISLATIVE HISTORY--H.R. 747:
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HOUSE REPORTS: No. 106-140 (Comm. on Resources).
CONGRESSIONAL RECORD, Vol. 145 (1999):
Aug. 2, considered and passed House.
Nov. 19, considered and passed Senate.
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