Pueblo Trust Funds

(a) In general Section 505 of the Taos Pueblo Indian Water Rights Settlement Act (Public Law 111–291; 124 Stat. 3123) is amended— (1) by striking the section heading and inserting Pueblo Trust Funds; (2) in subsection (a)— (A) in the subsection heading, by inserting of Taos Pueblo Water Development Fund after Establishment; and (B) in the matter preceding paragraph (1), by striking (referred to in this section as the Fund); (3) in subsection (b)— (A) by striking the subsection heading and inserting Management of Pueblo Trust Funds; and (B) by striking the Fund each place it appears and inserting the Pueblo Trust Funds; (4) in subsection (c)— (A) by striking the subsection heading and inserting Investment of Pueblo Trust Funds; (B) in the matter preceding paragraph (1), by striking the Fund and inserting the Pueblo Trust Funds; and (C) by striking paragraph (3) and inserting the following: (3) the Trust Fund Reform Act.; (5) in subsection (d)— (A) in the subsection heading, by striking Fund and inserting Taos Pueblo Water Development Fund; and (B) by striking the Fund and inserting the Taos Pueblo Water Development Fund established by subsection (a); (6) in subsection (e)— (A) by striking the Fund each place it appears and inserting the Pueblo Trust Funds; and (B) in paragraph (2), by striking specified in subsection (a) and inserting described in subsections (a), (h)(2), and (i)(2), as applicable; (7) in subsection (f), in the matter preceding paragraph (1), by striking the Fund and inserting the Taos Pueblo Water Development Fund established by subsection (a); (8) in subsection (g), by striking the Fund and inserting the Pueblo Trust Funds; and (9) by adding at the end the following: (h) Taos pueblo groundwater development supplemental trust fund (1) Establishment There is established in the Treasury of the United States a fund, to be known as the Taos Pueblo Groundwater Development Supplemental Trust Fund (referred to in this subsection as the Groundwater Development Supplemental Trust Fund), consisting of— (A) amounts appropriated to the Groundwater Development Supplemental Trust Fund under section 509(l); and (B) any interest earned on investment of amounts in the Groundwater Development Supplemental Trust Fund under paragraph (3). (2) Use of funds The Pueblo may use amounts in the Groundwater Development Supplemental Trust Fund to pay or reimburse costs incurred by the Pueblo to investigate, plan, permit, design, engineer, construct, reconstruct, replace, rehabilitate, operate, or repair groundwater production, treatment, or delivery infrastructure consistent with the Settlement Agreement. (3) Investment On deposit, the Secretary shall invest amounts in the Groundwater Development Supplemental Trust Fund in accordance with subsection (c). (4) Investment earnings Any investment earnings, including interest, credited to amounts in the Groundwater Development Supplemental Trust Fund are authorized to be used in accordance with paragraph (2). (5) Availability Amounts deposited in the Groundwater Development Supplemental Trust Fund pursuant to section 509(l), or from other authorized sources, shall be available to the Pueblo for expenditure or withdrawal after the requirements of subsection (e) have been met. (6) Management The Secretary shall manage the Groundwater Development Supplemental Trust Fund in accordance with subsection (b). (7) Conditions for expenditure and withdrawal All expenditures and withdrawals by the Pueblo of funds in the Groundwater Development Supplemental Trust Fund shall comply with the requirements of subsection (e). (i) Taos pueblo surface water sharing supplemental trust fund (1) Establishment There is established in the Treasury of the United States a fund, to be known as the Taos Pueblo Surface Water Sharing Supplemental Trust Fund (referred to in this subsection as the Surface Water Sharing Supplemental Trust Fund), consisting of— (A) amounts appropriated to the Surface Water Sharing Supplemental Trust Fund under section 509(m); and (B) any interest earned on investment of amounts in the Surface Water Sharing Supplemental Trust Fund under paragraph (3). (2) Use of funds The Pueblo may use amounts in the Surface Water Sharing Supplemental Trust Fund to pay or reimburse costs incurred by the Pueblo to investigate, plan, permit, design, engineer, construct, reconstruct, replace, rehabilitate, operate, or repair surface water sharing infrastructure and gages to facilitate implementation of Article 8.2 of the Settlement Agreement. (3) Investment On deposit, the Secretary shall invest amounts in the Surface Water Sharing Supplemental Trust Fund in accordance with subsection (c). (4) Investment earnings Any investment earnings, including interest, credited to amounts in the Surface Water Sharing Supplemental Trust Fund are authorized to be used in accordance with paragraph (2). (5) Availability Amounts deposited in the Surface Water Sharing Supplemental Trust Fund pursuant to section 509(m), or from other authorized sources, shall be available to the Pueblo for expenditure or withdrawal after the requirements of subsection (e) have been met. (6) Management The Secretary shall manage the Surface Water Sharing Supplemental Trust Fund in accordance with subsection (b). (7) Conditions for expenditure and withdrawal All expenditures and withdrawals by the Pueblo of amounts in the Surface Water Sharing Supplemental Trust Fund shall comply with the requirements of subsection (e).. (b) Clerical amendment The table of contents for the Claims Resolution Act of 2010 (Public Law 111–291; 124 Stat. 3064) is amended by striking the item relating to section 505 and inserting the following: Sec. 505. Pueblo Trust Funds..