| Home > 107th Congressional Bills > S. 176 (is) To reform the financing of Federal elections, and for other purposes. [Introduced in Senate] ...
S. 176 (is) To reform the financing of Federal elections, and for other purposes. [Introduced in Senate] ...
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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