The 2009 and 2010 laws that set up these three tribal water funds do not allow the money to earn interest before each settlement's enforcement date.
This bill makes technical corrections to water-related funds for Native American tribes, ensuring they receive the right amounts of money for water projects. It helps support water infrastructure and management for these communities.
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No committee member filed a written objection, and the Senate passed it by unanimous consent.
Technical Corrections to the Northwestern New Mexico Rural Water Projects Act, Taos Pueblo Indian Water Rights Settlement Act, and Aamodt Litigation Settlement Act This bill authorizes deposits representing unpaid interest into the Navajo Nation Water Resources Development Trust Fund, the Taos Pueblo Water Development Fund, and the Aamodt Settlement Pueblos’ Fund. These funds were established in 2009 and 2010 under certain water rights settlement agreements that did not allow accrual of interest.
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