Technical Fixes Authorize $21.5M in Adjusted Interest Payments for NM Water Settlements

This legislation, titled the “Technical Corrections to the Northwestern New Mexico Rural Water Projects Act, Taos Pueblo Indian Water Rights Settlement Act, and Aamodt Litigation Settlement Act,” is essentially a cleanup bill with a significant price tag. It authorizes over $21.5 million in additional appropriations, characterized as “adjusted interest,” to be deposited into three specific Native American water rights settlement trust funds in New Mexico.

The Fine Print on Financial Fixes

Think of this bill as reconciling a complex, years-long financial statement. When large settlements are established, the money is often held in trust funds, and if the initial interest calculations or deposits were off, technical corrections are needed. That’s what this bill does, ensuring the original agreements are financially honored.

The largest chunk of new money goes to the Taos Pueblo Water Development Fund, authorizing an appropriation of $7,794,297.52. This is designed to top off the fund, which was established under the Claims Resolution Act of 2010. For the Navajo Nation Water Resources Development Trust Fund, the bill authorizes an adjusted interest payment of $6,357,674.46. This payment is specifically excluded from an existing allocation formula, ensuring the money goes directly into the trust fund as intended by the original 2009 Act.

Real-World Impact: Water Infrastructure

For the Aamodt Settlement Pueblos Fund, the bill authorizes $4,314,709.18. This money is crucial because it’s specifically earmarked for the Pueblos’ share of the costs to operate, maintain, and replace the Pueblo Water Facilities and the Regional Water System. For the residents in these areas, this isn’t just abstract money; it’s the funding that keeps the water flowing and the infrastructure from failing. When you rely on a regional water system, having the maintenance money secured is vital for everyday life.

Another key provision related to the Aamodt Pueblos is a directive to the Secretary of the Treasury to waive any money due to the United States that is attributable to interest earned on certain funds before September 15, 2017 (Sec. 4). This essentially clears a specific debt related to past interest payments, providing financial relief and simplifying the ongoing administration of the settlement.

Clearing the Books and Moving Forward

Beyond the specific dollar amounts, the bill includes important administrative details. It clarifies that investment earnings (like interest) on all the money held in these trust funds can also be appropriated for use (Sec. 6). This is an important detail for long-term fund management, ensuring the money can grow and be used to fulfill the settlement purposes without constant re-authorization.

Finally, the bill includes a “Disclaimer” section (Sec. 5) that acts like a legal shield. It explicitly states that these new technical corrections do not invalidate or change the previous official findings that the conditions of the original 2010 settlement acts were satisfied. This prevents the new payments from accidentally reopening old legal battles, ensuring that the years of work put into finalizing those settlements remains intact. This bill is a clean-up job, but one that ensures millions of dollars are correctly allocated to support critical water infrastructure for several New Mexico communities.