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S. 176 (is) To reform the financing of Federal elections, and for other purposes. [Introduced in Senate] ...


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108th CONGRESS
  1st Session
                                 S. 175

To establish a direct line of authority for the Office of Trust Reform 
 Implementation and Oversight to oversee the management and reform of 
Indian trust funds and assets under the jurisdiction of the Department 
  of the Interior, and to advance tribal management of such funds and 
  assets, pursuant to the Indian Self-Determination Act and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 15, 2003

 Mr. McCain (for himself, Mr. Daschle, and Mr. Johnson) introduced the 
 following bill; which was read twice and referred to the Committee on 
                             Indian Affairs

_______________________________________________________________________

                                 A BILL


 
To establish a direct line of authority for the Office of Trust Reform 
 Implementation and Oversight to oversee the management and reform of 
Indian trust funds and assets under the jurisdiction of the Department 
  of the Interior, and to advance tribal management of such funds and 
  assets, pursuant to the Indian Self-Determination Act and for other 
                               purposes.

    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 ``Indian Trust Asset and Trust Fund 
Management and Reform Act of 2003''.

SEC. 2. FINDINGS.

    Congress finds and affirms that the proper discharge of trust 
responsibility of the United States requires, without limitation, that 
the trustee, using a high degree of care, skill, and loyalty--
            (1) protect and preserve Indian trust assets from loss, 
        damage, unlawful alienation, waste, and depletion;
            (2) ensure that any management of Indian trust assets 
        required to be carried out by the Secretary--
                    (A) promotes the interest of the beneficial owner; 
                and
                    (B) supports, to the maximum extent practicable in 
                accordance with the trust responsibility of the 
                Secretary, the beneficial owner's intended use of the 
                assets;
            (3)(A) enforce the terms of all leases or other agreements 
        that provide for the use of trust assets; and
            (B) take appropriate steps to remedy trespass on trust or 
        restricted land;
            (4) promote tribal control and self-determination over 
        tribal trust land and resources;
            (5) select and oversee persons that manage Indian trust 
        assets;
            (6) confirm that Indian tribes that manage Indian trust 
        assets pursuant to contracts and compacts authorized by the 
        Indian Self-Determination and Education Assistance Act (25 
        U.S.C. 450 et seq.) protect and prudently manage those Indian 
        trust assets;
            (7) provide oversight and review of the performance of the 
        trust responsibility of the Secretary, including Indian trust 
        asset and investment management programs, operational systems, 
        and information systems;
            (8) account for and identify, collect, deposit, invest, and 
        distribute, in a timely manner, income due or held on behalf of 
        tribal and individual Indian account holders;
            (9) maintain a verifiable system of records that, at a 
        minimum, is capable of identifying, with respect to a trust 
        asset--
                    (A) the location of the trust asset;
                    (B) the beneficial owners of the trust asset;
                    (C) any legal encumbrances (such as leases or 
                permits) applicable to the trust asset;
                    (D) the user of the trust asset;
                    (E) any rent or other payments made;
                    (F) the value of trust or restricted land and 
                resources associated with the trust asset;
                    (G) dates of--
                            (i) collections;
                            (ii) deposits;
                            (iii) transfers;
                            (iv) disbursements;
                            (v) imposition of third-party obligations 
                        (such as court-ordered child support or 
                        judgments);
                            (vi) statements of earnings;
                            (vii) investment instruments; and
                            (viii) closure of all trust fund accounts 
                        relating to the trust fund asset;
                    (H) documents pertaining to actions taken to 
                prevent or compensate for any diminishment of the 
                Indian trust asset; and
                    (I) documents that evidence the actions of the 
                Secretary regarding the management and disposition of 
                the Indian trust asset;
            (10) establish and maintain a system of records that--
                    (A) permits beneficial owners to obtain information 
                regarding Indian trust assets in a timely manner; and
                    (B) protects the privacy of that information;
            (11) invest tribal and individual Indian trust funds to 
        ensure that the trust account remains reasonably productive for 
        the beneficial owner consistent with market conditions existing 
        at the time at which investment is made;
            (12) communicate with beneficial owners regarding the 
        management and administration of Indian trust assets; and
            (13) protect treaty-based fishing, hunting, gathering, and 
        similar rights-of-access and resource use on traditional tribal 
        land.

SEC. 3. DEFINITIONS.

    Section 2 of the American Indian Trust Fund Management Reform Act 
of 1994 (25 U.S.C. 4001) is amended--
            (1) by striking paragraph (1);
            (2) in paragraph (2), by striking ``(2) The term'' and 
        inserting the following:
            ``(5) Indian tribe.--The term'';
            (3) in paragraph (3), by striking ``(3) The term'' and 
        inserting the following:
            ``(8) Secretary.--The term'';
            (4) in paragraph (4), by striking ``(4) The term'' and 
        inserting the following:
            ``(6) Office.--The term'';
            (5) in paragraph (5), by striking ``(5) The term'' and 
        inserting the following:
            ``(2) Bureau.--The term'';
            (6) in paragraph (6), by striking ``(6) The term'' and 
        inserting the following:
            ``(3) Department.--The term'';
            (7) by moving paragraphs (2), (3), (5), (6), and (8) (as 
        redesignated by this subsection) so as to appear in numerical 
        order;
            (8) by inserting before paragraph (2) (as redesignated by 
        paragraph (5)) the following:
            ``(1) Beneficial owner.--The term `beneficial owner' means 
        an Indian tribe or member of an Indian tribe that is the 
        beneficial owner of Indian trust assets.'';
            (9) by inserting after paragraph (3) (as redesignated by 
        paragraph (6)) the following:
            ``(4) Deputy secretary.--The term `Deputy Secretary' means 
        the Deputy Secretary for Trust Management and Reform appointed 
        under section 307(a)(2).'';
            (10) by inserting after paragraph (6) (as redesignated by 
        paragraph (4)) the following:
            ``(7) Reform office.--The term `Reform Office' means the 
        Office of Trust Reform Implementation and Oversight established 
        by section 307(e).''; and
            (11) by adding at the end the following:
            ``(9) Task force.--The term `Task Force' means the Tribal 
        Task Force for Trust Reform established under section 307(a).
            ``(10) Trust assets.--The term `trust assets' means all 
        tangible property including land, minerals, coal, oil and gas, 
        forest resources, agricultural resources, water and water 
        sources, and fish and wildlife held by the Secretary for the 
        benefit of an Indian tribe or an individual member of an Indian 
        tribe pursuant to Federal law.
            ``(11) Trust funds.--The term `trust funds' means all funds 
        held by the Secretary for the benefit of an Indian tribe or and 
        individual member of an Indian tribe pursuant to Federal law.
            ``(12) Trustee.--The term `trustee' means the Secretary or 
        any other person that is authorized to act as a trustee for 
        Indian trust assets and trust funds.''.

SEC. 4. RESPONSIBILITIES OF SECRETARY.

    Section 102 of the American Indian Trust Fund Management Reform Act 
of 1994 (25 U.S.C. 4011) is amended to read as follows:

``SEC. 4011. RESPONSIBILITIES OF SECRETARY.

    ``(a) Accounting for Daily and Annual Balances of Indian Trust 
Funds.--
            ``(1) In general.--The Secretary shall account for the 
        daily and annual balances of all trust funds that are deposited 
        or invested pursuant to the Act of June 24, 1938 (25 U.S.C. 
        162a).
            ``(2) Periodic statement of performance.--
                    ``(A) In general.--Not later than 20 business days 
                after the close of a calendar quarter, the Secretary 
                shall provide a statement of performance to each Indian 
                tribe and member of Indian tribe with respect to which 
                funds are deposited or invested pursuant to the Act of 
                June 24, 1938 (25 U.S.C. 162a).
                    ``(B) Requirements.--Each statement under 
                subparagraph (A) shall identify, with respect to the 
                period covered by the statement--
                            ``(i) the source, type, and status of the 
                        funds;
                            ``(ii) the beginning balance of the funds;
                            ``(iii) the gains and losses of the funds;
                            ``(iv) receipts and disbursements of the 
                        funds; and
                            ``(v) the ending balance of the funds.
            ``(3) Annual audit.--With respect to each account 
        containing trust funds in an amount in excess of $1,000, the 
        Secretary shall--
                    ``(A) conduct, for each fiscal year, an audit of 
                all trust funds described in paragraph (1); and
                    ``(B) include, in the first statement of 
                performance completed under paragraph (2) after 
                completion of the audit, a letter describing the 
                results of the audit.
    ``(b) Additional Responsibilities.--In addition to the 
responsibilities described in subsection (a), subject to the 
availability of appropriations, the Secretary, in carrying out the 
trust responsibility of the United States, shall, at a minimum--
            ``(1) provide for adequate systems for accounting for and 
        reporting trust fund balances;
            ``(2) provide for adequate controls over receipts and 
        disbursements;
            ``(3) provide for periodic, timely reconciliations of 
        financial records to ensure the accuracy of account 
        information;
            ``(4) determine accurate cash balances;
            ``(5) prepare and supply to account holders periodic 
        account statements;
            ``(6) establish and publish in the Federal Register 
        consistent policies and procedures for trust fund management 
        and accounting;
            ``(7) provide adequate staffing, supervision, and training 
        for trust fund management and accounting; and
            ``(8) manage natural resources located within the 
        boundaries of Indian reservations and trust land.''.

SEC. 5. INDIAN PARTICIPATION IN TRUST FUND ACTIVITIES.

    Title II of the American Indian Trust Fund Management Reform Act of 
1994 (25 U.S.C. 4021 et seq.) is amended--
            (1) by striking sections 202 and 203; and
            (2) by inserting after section 201 the following:

``SEC. 202. PARTICIPATION IN TRUST FUND AND TRUST ASSET MANAGEMENT 
              ACTIVITIES BY INDIAN TRIBES.

    ``(a) Planning Program.--To meet the purposes of this title, an 
Indian Trust Fund and Trust Asset Management and Monitoring Plan (in 
this section referred to as the `Plan') shall be developed and 
implemented as follows:
            ``(1) Pursuant to a self-determination contract or compact 
        under section 102 of the Indian Self-Determination Act (25 
        U.S.C. 450f) or section 403 of the Indian Self Determination 
        and Education Assistance Act (25 U.S.C. 458cc), an Indian tribe 
        may develop or implement a Plan to provide for management of 
        the trust funds and assets (or portions of trust funds or 
        assets) of which the Indian tribe is the beneficial owner. 
        Subject to the provisions of paragraphs (3) and (4), the tribe 
        shall have broad discretion in designing and carrying out the 
        planning process.
            ``(2) To include in a Plan particular trust funds or assets 
        held by multiple individuals, an Indian tribe shall obtain the 
        approval of a majority of the individuals who hold an interest 
        in any such trust funds or assets.
            ``(3) The Plan shall be submitted to the Secretary for 
        approval pursuant to the Indian Self-Determination Act (25 
        U.S.C. 450f et seq.).
            ``(4) If an Indian tribe chooses not to develop or 
        implement a Plan, the Secretary shall, at the request of the 
        Indian tribe, develop or implement, as appropriate, a Plan in 
        close consultation with the affected Indian tribe.
            ``(5) Whether developed directly by the Indian tribe or by 
        the Secretary, the Plan shall--
                    ``(A) determine the amount and source of funds held 
                in trust;
                    ``(B) identify and include an inventory of trust 
                assets based on the information available to the Indian 
                tribe and the Secretary;
                    ``(C) identify specific tribal goals and 
                objectives;
                    ``(D) establish management objectives for the funds 
                and assets held in trust;
                    ``(E) define critical values of the Indian tribe 
                and its members and provide identified management 
                objectives;
                    ``(F) identify actions to be taken to reach 
                established objectives;
                    ``(G) use existing survey documents, reports and 
                other research from Federal agencies, tribal community 
                colleges, and land grant universities; and
                    ``(H)(i) be completed not later than 3 years after 
                the date of initiation of activity to establish the 

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