S.925 - Native American Trust Fund Accounting and Management Reform Act of 1993103rd Congress (1993-1994)
|Sponsor:||Sen. Inouye, Daniel K. [D-HI] (Introduced 05/07/1993)|
|Committees:||Senate - Indian Affairs|
|Latest Action:||Senate - 06/22/1993 Committee on Indian Affairs. Hearings held. Hearings printed: S.Hrg. 103-225. (All Actions)|
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Summary: S.925 — 103rd Congress (1993-1994)All Information (Except Text)
Introduced in Senate (05/07/1993)
TABLE OF CONTENTS:
I: Trust Fund Interest Payments
II: Indian Trust Fund Management Demonstration Program
III: Recognition of Trust Responsibility
IV: Training and Personnel
V: Responsibility to Accounts for Indian Trust Funds
Native American Trust Fund Accounting and Management Reform Act of 1993 - Title I: Trust Fund Interest Payments - Amends Federal law to change from discretionary to mandatory the authority of the Secretary of the Interior to invest Indian trust funds in debt obligations issued or guaranteed by the United States.
Requires the Secretary to pay interest periodically on such deposited or invested funds to the appropriate Indian tribe or individual Indian.
Repeals Federal law that relieves the United States from any liability relating to the interest payable on such invested funds.
Authorizes the Secretary to make payments to an Indian tribe or individual Indian in full satisfaction of any claim of such tribe or Indian for any interest owed on amounts deposited or invested on their behalf before the enactment of this Act.
Title II: Indian Trust Fund Management Demonstration Program - Authorizes an Indian tribe to submit to the Secretary a demonstration plan for new approaches to management of tribal or individual funds held in trust by the United States and managed by the Bureau of Indian Affairs (BIA) for a tribe or its members. Sets forth: (1) plan approval criteria; and (2) Federal trust responsibility in the case of tribal trust fund management. Provides for voluntary withdrawal of program funds.
Title III: Recognition of Trust Responsibility - Amends Federal law to require the Secretary to take specified actions to properly discharge U.S. trust responsibilities with regard to Indian funds investment.
States that the Congress recognizes a trust responsibility with respect to natural resources on Indian reservations and trust lands.
Title IV: Training and Personnel - Directs the Secretary to establish a trust fund management training program for Indians.
Title V: Responsibility to Account for Indian Trust Funds - Requires the Secretary to: (1) account for daily and annual balances of Indian trust funds; and (2) provide periodic performance statements.