article: SECTION 1. DISTRIBUTION OF JUDGMENT FUNDS. (a) Funds To Be Deposited Into Separate Accounts.-- (1) In general.--Subject to section 2, not later than 30 days after the date of enactment of this Act, the funds appropriated on September 19, 1989, in satisfaction of an award granted to the Quinault Indian Nation under Dockets 772-71, 773-71, 774-71, and 775-71 before the United States Claims Court, less attorney fees and litigation expenses, and including all interest accrued to the date of disbursement, shall be distributed by the Secretary and deposited into 3 separate accounts to be established and maintained by the Quinault Indian Nation (referred to in this Act as the ``Tribe'') in accordance with this subsection. (2) Account for principal amount.-- (A) In general.--The Tribe shall-- (i) establish an account for the principal amount of the judgment funds; and (ii) use those funds to establish a Permanent Fisheries Fund. (B) Use and investment.--The principal amount described in subparagraph (A)(i)-- (i) except as provided in subparagraph (A)(ii), shall not be expended by the Tribe; and (ii) shall be invested by the Tribe in accordance with the investment policy of the Tribe. (3) Account for investment income.-- (A) In general.--The Tribe shall establish an account for, and deposit in the account, all investment income earned on amounts in the Permanent Fisheries Fund established under paragraph (2)(A)(ii) after the date of distribution of the funds to the Tribe under paragraph (1). (B) Use of funds.--Funds deposited in the account established under subparagraph (A) shall be available to the Tribe-- (i) subject to subparagraph (C), to carry out fisheries enhancement projects; and (ii) pay expenses incurred in administering the Permanent Fisheries Fund established under paragraph (2)(A)(ii). (C) Specification of projects.--Each fisheries enhancement project carried out under subparagraph (B)(i) shall be specified in the approved annual budget of the Tribe. (4) Account for income on judgment funds.-- (A) In general.--The Tribe shall establish an account for, and deposit in the account, all investment income earned on the judgment funds described in subsection (a) during the period beginning on September 19, 1989, and ending on the date of distribution of the funds to the Tribe under paragraph (1). (B) Use of funds.-- (i) In general.--Subject to clause (ii), funds deposited in the account established under subparagraph (A) shall be available to the Tribe for use in carrying out tribal government activities. (ii) Specification of activities.--Each tribal government activity carried out under clause (i) shall be specified in the approved annual budget of the Tribe. (b) Determination of Amount of Funds Available.--Subject to compliance by the Tribe with paragraphs (3)(C) and (4)(B)(ii) of subsection (a), the Quinault Business Committee, as the governing body of the Tribe, may determine the amount of funds available for expenditure under paragraphs (3) and (4) of subsection (a). (c) Annual Audit.--The records and investment activities of the 3 accounts established under subsection (a) shall-- (1) be maintained separately by the Tribe; and (2) be subject to an annual audit. (d) Reporting of Investment Activities and Expenditures.--Not later than 120 days after the date on which each fiscal year of the Tribe ends, the Tribe shall make available to members of the Tribe a full accounting of the investment activities and expenditures of the Tribe with respect to each fund established under this section (which may be in the form of the annual audit described in subsection (c)) for the fiscal year. SEC. 2. CONDITIONS FOR DISTRIBUTION. (a) United States Liability.--On disbursement to the Tribe of the funds under section 1(a), the United States shall bear no trust responsibility or liability for the investment, supervision, administration, or expenditure of the funds. (b) Application of Other Law.--All funds distributed under this Act shall be subject to section 7 of the Indian Tribal Judgment Funds Use or Distribution Act (25 U.S.C. 1407).
summary: Specifies the distribution and use of funds appropriated on September 19, 1989, in satisfaction of an award granted to the Quinault Indian Nation under Dockets 772-71, 773-71, 774-71, and 775-71 before the United States Claims Court. Requires distribution and deposit of such funds into three accounts (for Principal Amount, for Investment Income, and for Income on Judgment Funds), to be established by the Tribe, maintained separately, and audited annually. Requires use of the Account for Principal Amount to establish a Permanent Fisheries Fund. Exempts the United States from any trust responsibility or liability for funds upon their disbursement to the Tribe.