Technical Corrections to the Northwestern New Mexico Rural Water Projects Act, Taos Pueblo Indian Water Rights Settlement Act, and Aamodt Litigation Settlement Act
Sponsored By: Senator Sen. Luján, Ben Ray [D-NM]
Passed Senate
Summary
Creates a dedicated adjusted-interest payment stream for the Navajo Nation Water Resources Development Trust Fund. It amends the Omnibus Public Land Management Act of 2009 by adding a new subsection that authorizes deposits labeled as adjusted interest payments into the Trust Fund. The change revises cross-references and explicitly sets aside an additional funding stream for the Navajo Nation's water resources development. *Authorizes a one-time $6.4 million appropriation to be deposited in the Trust Fund.*
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Bill Overview
Analyzed Economic Effects
4 provisions identified: 4 benefits, 0 costs, 0 mixed.
One-time water funds for Navajo and Pueblos
If enacted, the government would make one-time deposits into three tribal water funds. It would add about $4.31 million to the Aamodt Settlement Pueblos' Fund to help run and replace Pueblo water facilities and the regional system. It would add about $6.36 million to the Navajo Nation Water Resources Development Trust Fund. It would add about $7.79 million to the Taos Pueblo Water Development Fund.
Treasury would waive old Aamodt interest
If enacted, the Treasury would waive amounts otherwise due to the United States that came from interest earned before September 15, 2017. This applies to interest on Aamodt Settlement funds made available under section 617(c)(1)(A). The waiver would let the beneficiaries keep that interest.
Tribal water funds can use earnings
If enacted, interest and other investment earnings in these trust funds could also be appropriated. This would let the government add those earnings to the funds, on top of the one-time deposits.
Technical fix to deposit rules
If enacted, deposits made under the new adjusted-interest subsection would be excluded from an older cross-reference in existing law. This would change how those deposits are treated for accounting under the 2009 act.
Sponsors & CoSponsors
Sponsor
Sen. Luján, Ben Ray [D-NM]
NM • D
Cosponsors
Martin Heinrich
NM • D
Sponsored 2/19/2025
Roll Call Votes
No roll call votes available for this bill.
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