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119-hr-4598119th CongressWALLET

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: Representative Leger Fernandez, Teresa [D-NM-3]

In Committee

Summary

This bill would authorize adjusted-interest payments for three Native American water-rights settlement trust funds and set exact formulas and funding sources for calculating and paying that interest. It would also allow investment earnings to be appropriated and preserve prior settlement findings.

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  • Navajo Nation: Would authorize adjusted interest on the Navajo Nation Water Resources Development Trust Fund for fiscal years 2027 through 2033. The amount is calculated to match what would have accrued from enactment to October 1, 2019 using the daily government overnight rate tied to four-week U.S. Treasury bills with daily accrual and compounding.
  • Taos Pueblo: Would add a time‑bound formula for adjusted interest on the Taos Pueblo Water Development Fund. Interest would be calculated using the same daily overnight four-week Treasury rate, with investments and decisions governed by the 1938 Act and the American Indian Trust Fund Management Reform Act of 1994.
  • Aamodt Settlement Pueblos: Would authorize $37.5 million for fiscal years 2011–2024 to help cover Pueblo water system costs and create a parallel adjusted‑interest calculation for 2027–2033 using the same rate and compounding rules. It would waive certain Treasury claims for interest earned before September 15, 2017 and permit appropriation of investment earnings.

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Bill Overview

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Sponsors & CoSponsors

Sponsor

Leger Fernandez, Teresa [D-NM-3]

NM • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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