H.B. 61 Navajo Trust Fund Amendments

What this bill does

The bill changes the Utah Navajo Trust Fund law so the fund reports investments by category rather than each individual investment, matching existing confidentiality rules. It also changes the required board meeting schedule from monthly to at least quarterly and moves expenditure updates to the commission and board.

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Every vote

• 74 yes, 0 no, 1 absentFinal House vote · Jan 22, 2026Who voted how
• 4 yes, 0 no, 3 absentSenate Natural Resources, Agriculture, and Environment Committee: vote to approve it · Jan 30, 2026Who voted how
• 25 yes, 0 no, 4 absentFirst of two Senate votes · Feb 5, 2026Who voted how
• 28 yes, 0 no, 1 absentFinal Senate vote · Feb 6, 2026Who voted how

Hearings and debates

• Jan 22, 2026 House floor debate▶ Watch
  Transcript (5 turns)

  1. Speaker (presiding)36:05

     House Bill 61 Navajo Trust Fund Amendments by Representative Watkins. Representative Watkins.

  2. Rep. Christine F. Watkins36:13

     Thank you Mr. Speaker. Um, this bill was brought to me by our state treasurer, Marlow Oaks, who is the chair of the Board of the Utah Navajo Trust Fund. And, uh, this is a simple but important cleanup bill that updates the Navajo Utah Navajo Trust Fund statute to align with statewide investment confidentiality laws and longstanding reporting practice. So it does, uh, preserve transparency while protecting the fund. Uh, its investment strategies and its beneficiaries. So current statute could be interpreted to require reporting on each individual investment, which violates investment confidentiality agreements and exposes strategies that could harm the funds returns. And we already have other parts of Utah Code that exempt this investment level information from Grandma and public meetings to protect the fund. It also up updates the Utah na na Navajo Trust Fund statute to match these existing protections. So there's no confusion surrounding the legal reporting. The trust fund has always been, is always reported by, uh, by investment category, which provides clear performance measures without revealing sensitive details or constraining investment options. It also adjusts the frequency of when they meet. Right now it says they want it, it they should meet monthly, which they don't need to do. So it changes so that it requires a quarterly meeting, but if something comes up, they can always e meet, uh, more frequent than that. It is, uh, a simple but cleanup bill and very important, uh, for the Utah Navajo Trust Fund. And, um, uh, I'm open to any questions Mr. Speaker?

  3. Speaker (presiding)38:21

     Thank you Representative Watkins. Discussion to the bill. Seeing none. Back to your Representative Watkins for summation.

  4. Rep. Christine F. Watkins38:29

     Thank you. Appreciate your vote.

  5. Speaker (presiding)38:30

     Summation has been waived. Voting will now be open on Thank you. Seeing all President having voted voting is now closed. HB 61 passes this by 74. Yes votes zero, no votes and will be sent to the Senate for its consideration. Madam Reading Clerk

• Jan 30, 2026 Senate Natural Resources, Agriculture, and Environment Committee▶ Watch
  Transcript (8 turns)

  1. Committee chair57:23

     Representative Watkins Representative. Alright. Representative Watkins, we're gonna go into item five. Navajo Trust fund amendments. Do, um, do you have any substitutes or amendments? No. Okay. We'll turn the time to you. It's, It's ready to go.

  2. Rep. Christine F. Watkins57:39

     Thank you. Appreciate that Chair. And, uh, committee members. This is, uh, a bill that was brought, uh, by Marlow Oaks, our State Treasurer. It's, um, kind of a cleanup bill that updates the Utah Navajo Trust Fund statute to align with statewide, uh, investment confidentiality laws and longstanding reporting practices. And so it preserves transparency while protecting the fund and, uh, it, its investment strategies and its beneficiaries. The current statute could be in a, um, interpreted to require reporting on e each individual investment, which violates investment confidentiality. I didn't say that. Right. Compete that word agreements and exposes strategies that could harm the funds returns other parts of the Utah code already exempt this investment level information from grandma and public meetings to protect the fund and the bill updates the, uh, um, fund the statute to match these existing protections. So there's no confusion, uh, surrounding the legal reporting, uh, obligations. Uh, the trust is already re always reported by investment category, which provides clear performance measures without revealing sensitive details or constraining investment options. It also adjusts the meeting frequency. Uh, the way it has been is they were to meet monthly. He has changed it. They wanna meet quarterly, but this does not preclude that if they need to meet that they, uh, could certainly do that. Uh, again, it's a simple but important cleanup. Bill, and I hope you don't ask me a lot of questions. Thank you. Conclude your presentation. Yes, it does.

  3. Committee chair59:35

     We'll bring it to committee then for any clarifying questions. I'm not seeing any, so we'll go to the public if anyone is here or online to speak to this. No. Okay. Uh, seeing any of the room, I'll bring it back then to the committee and go to Senator Hinkins.

  4. Sen. David P. Hinkins59:53

     Uh, Thank you Mr. Chairman. I would just make a motion that we pass out House bill 61 Navajo Trust Fund amendments with the favorable recommendation.

  5. Committee chair1:00:02

     Thank you. Motions. In order, is there any discussion to the motion to favorably recommend House Bill 61? Uh, seeing any? I'll come back to you, representative for summation.

  6. Rep. Christine F. Watkins1:00:12

     Thank you. It, it is just bringing the fund up to where it should be, so

  7. Unknown speaker1:00:18speaker not certain

     Thank you. Seems pretty straightforward. Yes.

  8. Committee chair1:00:20

     Align with other pieces of code? Yes. All right. Senator Waive waive, um, we will place the motion then. All in favor of, uh, passing out house bill 61. Indicate by saying aye. Aye. Aye. Aye. Opposed? If any say nay, we'll rule that pa. Thank you. Thank you.

• Feb 5, 2026 Senate floor debate▶ Watch
  Transcript (6 turns)

  1. Sen. Ronald M. Winterton31:57

     Thank you. Uh, this bill is recommended by the, um, state treasurer. He happens to be the chairman of the fund. This is the Navajo Trust Fund and out of need to make it more, uh, efficient and to preserve the fund. It, we'll call it a cleanup bill, but, uh, what it does first off is they have monthly required meetings. They want to change that to quarterly. Just to have a meeting. To have a meeting doesn't make sense. The other thing, it, it will preserve the transparency while protecting the fund. Its investment strategies for the beneficiaries. The current statute could be interpreted to require reporting on each individual investment, which violates the investment confidential confidentiality agreements and exposes those strategies that could harm the funds, uh, returns. And then it also addresses other parts of the Utah Code already exempt in this investment level. Information from the grandma and public records, uh, to protect the fund, uh, the bill updates, uh, the Navajo Trust, um, commission and board, uh, and puts it where they will hear the updates from the expenditures of the fund so that there's oversight, which now is not happening, which, you know, greater transparency. Um, and so that's, uh, the extent of what's in the bill. Thank you. We have discussion of the bill.

  2. President Adams (presiding)33:38

     Senator Winter Winterton, there's no discussion. Do you for a motion?

  3. Sen. Ronald M. Winterton33:42speaker not certain

     Okay. I'll call the question then.

  4. President Adams (presiding)33:43

     Thank you. The question is, shall house Bill 61 be read a third time? Roll call Vote. Senator Vickers Baldy Bwin Bramer Bus Aye. Co. Moore Escamilla Fillmore Aye. Grover Harper Aye. Kins. Ipson Johnson. Quan McKay. Aye. Mikel Milner. Musselman Aye. Owens Yes. Pitcher. Blum Blum Freebie Aye. Sandal Aye. Stevenson. Aye. Stratton Bickers Aye. Weiler Aye. Wilson. Aye. Winterton President Adams Aye. House bill 61 having received 25 yay votes, zero A votes four being absent shall be read a third time. We have three bills, three house bills left. On the second reading calendar, I'm gonna try to call those bills and if there's enough time left after those bills are called, we'll probably go to the third reading calendar. So those that wanna encircle, I think Senator Weiler, Senator Fillmore that wanna encircle and third can be prepared to encircle on third. And then we'll come back to the second reading calendar and probably run some Senate bills and Senator Balderree, I think at first. So be prepared for that as we, if we can make that, if we have enough time for all that. So the next bill up is second substitute House Bill 28, Second substitute House Bill 28, health and Human Services, Sunset Amendments.

  5. President Adams (presiding)35:28

     Senator Grover. Senator Grover?

  6. Sen. Grover35:32

     Yes. Thank you. Senator Vickers. This bill comes from our

• Feb 6, 2026 Senate floor debate▶ Watch
  Transcript (3 turns)

  1. Rep. Christine F. Watkins10:15

     This one is dealing with a Navajo Trust Fund. Simple, um, cleanup bill. The bill preserves the transparency while protecting the fund and the investment strategies along with the bi beneficiaries. Uh, the bill also adjusts the board meeting frequency. The current requirement is at least every month, it does not reflect the practice or the need. So it's updating the statute to at least quarterly and that is the amount of the bill.

  2. Senate President (presiding)10:46

     Thank you Senator. No discussion. So do you for a motion? All the question on it. The question is, shall say, house Bill 61 PA Pass, roll call vote. Senator Vickers, Baldy Lewin Brammer Bus Colmore Hasia Fillmore Grover Harper Kinins Ipson Johnson. Kwan McKay, Mikel Milner Milner Musselman Owens Pitcher Plum Rebe Sandal Stevenson Stratton Pickers. Weiler Wilson Winterton, president Adams Aye. House Bill 61, having received 28 yay votes, zero na votes, one being absent passes, this body will be signed by the President and returned to the house for the signature of the speaker. Senator Winterton, do you wanna uncer? No. Senator Owens, excuse me.

  3. Senate President (presiding)12:04

     You wanna uncer Cal, wait for a minute. Senate bill 1 29 Senate bill 1 29 Commemorative Day Amendments. Senator Balderree. Senator Balderree.