SETTLEMENT FUND.

SEC. 102. SETTLEMENT FUND. (A) There is hereby established within the Treasury of the United States, the “Fallon Paiute Shoshone Tribal Settlement Fund”, hereinafter referred to in the Act as the “Fund”. (B) There is authorized to be appropriated to the Fallon Paiute Shoshone Tribal Settlement Fund $3,000,000 in fiscal year 1992, and $8,000,000 in each year for fiscal years 1993, 1994, 1995, 1996, and 1997 for a total sum of $43,000,000. (B) (1) The income of the Fund may be obligated and expended only for the following purposes: (a) Tribal economic development, including development of long-term profit-making opportunities for the Fallon Paiute Shoshone Tribes (hereinafter referred to in the Act as “Tribes”) and its tribal members, and the development of employment opportunities for tribal members; (b) Tribal governmental services and facilities; (c) Per capita distributions to tribal members; (d) Rehabilitation and betterment of the irrigation system on the Fallon Paiute Shoshone Indian Reservation (hereinafter referred to in the Act as “Reservation”) not including lands added to the Reservation pursuant to the provisions of Public Law 95–337, 92 Stat. 455; (e) Acquisition of lands, water rights or related property interests located outside the Reservation from willing sellers, and improvement of such lands; (f) Acquisition of individually-owned land, water rights or related property interests on the Reservation from willing sellers, including those held in trust by the United States. (2) Except as provided in subsection (C)(3) of this section, the principal of the Fund shall not be obligated or expended. (3) In obligating and expending funds for the purposes set forth in subsections (C)(1)(d), (C)(1)(e) and (C)(1)(f) of this section, the Tribes may obligate and expend no more than 20 percent of the principal of the Fund, provided that any amounts so obligated and expended from principal must be restored to the principal from repayments of 104 STAT. 3290such amounts expended for the purposes identified in this subsection, or from income earned on the remaining principal. (4) In obligating and expending funds for the purpose set forth in subsection (C)(1)(c), no more than twenty percent of the annual income from the Fund may be obligated or expended for the purpose of providing per capita payments to tribal members. (D) The Tribes shall invest, manage, and use the monies appropriated to the Fund for the purposes set forth in this section in accordance with the plan developed in consultation with the Secretary under subsection (F) of this section. (E) Upon the request of the Tribes, the Secretary shall invest the sums deposited in, accruing to, and remaining in the Fund, in interest-bearing deposits and securities in accordance with the Act of June 24, 1938, 52 Stat. 1037, 25 U.S.C. 162a, as amended. All income earned on such investments shall be added to the Fund. (F) (1) The Tribes shall develop a plan, in consultation with the Secretary, for the investment, management, administration and expenditure of the monies in the Fund, and shall submit the plan to the Secretary. The plan shall set forth the manner in which such monies will be managed, administered and expended for the purposes outlined in subsection (C)(1) of this section. Such plan may be revised and updated by the Tribes in consultation with the Secretary. (2) The plan shall include a description of a project for the rehabilitation and betterment of the existing irrigation system on the Reservation. The rehabilitation and betterment project shall include measures to increase the efficiency of irrigation deliveries. The Secretary may assist in the development of the rehabilitation and betterment project, and the Tribes shall use their best efforts to implement the project within four years of the time when appropriations authorized in subsection (B) of this section become available. (3) Upon the request of the Tribes, the Secretary of the Treasury and the Secretary of the Interior shall make available to the Tribes, monies from the Fund to serve any of the purposes set forth in subsection (C)(1) of this section, except that no disbursement shall be made to the Tribes unless and until they adopt the plan required under this section. (G) The provisions of section 7 of Public Law 93–134, 87 Stat. 468, as amended by section 4 of Public Law 97-458, 96 Stat. 2513, 25 U.S.C. 1407, shall apply to any funds which may be distributed per capita under subsection (C)(1)(c) of this section.