Bill would authorize interest payments to three tribal water funds if funded

The measure would authorize a capped adjusted-interest payment to the fund. The payment is based on balances held in the Navajo Nation Water Resources Development Trust Fund. The cap includes compound interest and uses a daily rate tied to four-week U.S. Treasury bills. Payment depends on advance appropriations and may come from funds otherwise available to carry out authorized Indian water settlements. The authorization covers fiscal years 2027 through 2033. The interest cap uses a period beginning on enactment and ending October 1, 2019.

The measure would authorize a capped adjusted-interest payment to the fund. The payment is for the Taos Pueblo Water Development Fund. The calculation includes compound interest and uses a daily rate tied to four-week U.S. Treasury bills for interest after funds were returned to the Treasury. Payment depends on advance appropriations and may come from funds otherwise available to carry out authorized Indian water settlements. The interest calculation includes amounts that would have accrued from December 8, 2010, through October 7, 2016, and further interest through July 28, 2022. The authorization covers fiscal years 2027 through 2033.

The measure would authorize a capped adjusted-interest payment to the fund. The payment is for the Aamodt Settlement Pueblos’ Fund. The calculation includes compound interest and uses a daily rate tied to four-week U.S. Treasury bills for interest after funds were returned to the Treasury. Payment depends on advance appropriations and may come from funds otherwise available to carry out authorized Indian water settlements. The interest calculation includes amounts that would have accrued from December 8, 2010, through September 15, 2017, and further interest through July 28, 2022. The authorization covers fiscal years 2027 through 2033.

The Treasury Secretary would have to waive payment of covered amounts owed to the United States. This applies to amounts owed because of interest earned on money made available under the Aamodt settlement provision. Only amounts attributable to interest earned before September 15, 2017, are covered. The cutoff applies to interest earned before September 15, 2017.

The text authorizes Congress to appropriate investment earnings, including interest. This covers earnings credited to amounts held in trust funds under the act.