US HB6205

Amends the 2010 Taos Pueblo Indian Water Rights Settlement Act to establish two new trust funds in the U.S. Treasury: the Taos Pueblo Groundwater Development Supplemental Trust Fund ($190 million) and the Taos Pueblo Surface Water Sharing Supplemental Trust Fund ($16 million)

Provides $161 million in supplemental mandatory funding for Mutual-Benefit Projects, including construction of a Mitigation Well System to offset surface water depletion effects on designated stream segments

Establishes deadlines for Mutual-Benefit Project construction: non-Mitigation Well System projects must be substantially completed within 6 years and fully completed within 8 years of funding; Mitigation Well System projects must be substantially completed within 4 years and fully completed within 5 years

Authorizes the Commissioner of Reclamation to fund alternative or interim offset infrastructure if Eligible Non-Pueblo Entities fail to meet eligibility requirements or construction deadlines for the Mitigation Well System

All funding amounts are subject to adjustment based on changes in construction costs using the Bureau of Reclamation Construction Cost Index-Composite Trend, with indexing ending no later than 10 years after enactment