To establish the Lands Title Report Commission to facilitate certain home loan mortgages.

Summary: Subjects such Commission to the regulatory oversight of certain congressional committees on banking.
Directs the Commission to: (1) analyze and determine how best to improve or replace the system of the Bureau of Indian Affairs (Department of the Interior) for maintaining land ownership records and title documents and issuing certified title status reports pertaining to such trust lands;  and (2) report to such congressional committees. Authorizes appropriations.

SECTION 1. LANDS TITLE REPORT COMMISSION.

    (a) Establishment.--Subject to sums being provided in advance in 
appropriations Acts, there is established a Commission to be known as 
the Lands Title Report Commission (hereafter in this section referred 
to as the ``Commission'') to facilitate home loan mortgages on Indian 
trust lands. The Commission will be subject to oversight by the 
Committee on Banking and Financial Services of the House of 
Representatives and the Committee on Banking, Housing, and Urban 
Affairs of the Senate.
    (b) Membership.--
            (1) Appointment.--The Commission shall be composed of 12 
        members, appointed not later than 90 days after the date of the 
        enactment of this Act as follows:
                    (A) 4 members shall be appointed by the President.
                    (B) 4 members shall be appointed by the Chairperson 
                of the Committee on Banking and Financial Services of 
                the House of Representatives.
                    (C) 4 members shall be appointed by the Chairperson 
                of the Committee on Banking, Housing, and Urban Affairs 
                of the Senate.
            (2) Qualifications.--
                    (A) Members of tribes.--At all times, not less than 
                8 of the members of the Commission shall be members of 
                federally recognized Indian tribes.
                    (B) Experience in land title matters.--All members 
                of the Commission shall have experience in and 
                knowledge of land title matters relating to Indian 
                trust lands.
            (3) Chairperson.--The Chairperson of the Commission shall 
        be one of the members of the Commission appointed under 
        paragraph (1)(C), as elected by the members of the Commission.
            (4) Vacancies.--Any vacancy on the Commission shall not 
        affect its powers, but shall be filled in the manner in which 
        the original appointment was made.
            (5) Travel expenses.--Members of the Commission shall serve 
        without pay, but each member shall receive travel expenses, 
        including per diem in lieu of subsistence, in accordance with 
        sections 5702 and 5703 of title 5, United States Code.
    (c) Initial Meeting.--The Chairperson of the Commission shall call 
the initial meeting of the Commission. Such meeting shall be held 
within 30 days after the Chairperson of the Commission determines that 
sums sufficient for the Commission to carry out its duties under this 
Act have been appropriated for such purpose.
    (d) Duties.--The Commission shall analyze the system of the Bureau 
of Indian Affairs of the Department of the Interior for maintaining 
land ownership records and title documents and issuing certified title 
status reports relating to Indian trust lands and, pursuant to such 
analysis, determine how best to improve or replace the system--
            (1) to ensure prompt and accurate responses to requests for 
        title status reports;
            (2) to eliminate any backlog of requests for title status 
        reports; and
            (3) to ensure that the administration of the system will 
        not in any way impair or restrict the ability of Native 
        Americans to obtain conventional loans for purchase of 
        residences located on Indian trust lands, including any actions 
        necessary to ensure that the system will promptly be able to 
        meet future demands for certified title status reports, taking 
        into account the anticipated complexity and volume of such 
        requests.
    (e) Report.--Not later than the date of the termination of the 
Commission under subsection (h), the Commission shall submit a report 
to the Committee on Banking and Financial Services of the House of 
Representatives and the Committee on Banking, Housing, and Urban 
Affairs of the Senate describing the analysis and determinations made 
under subsection (d).
    (f) Powers.--
            (1) Hearings and sessions.--The Commission may, for the 
        purpose of carrying out this section, hold hearings, sit and 
        act at times and places, take testimony, and receive evidence 
        as the Commission considers appropriate.
            (2) Staff of federal agencies.--Upon request of the 
        Commission, the head of any Federal department or agency may 
        detail, on a reimbursable basis, any of the personnel of that 
        department or agency to the Commission to assist it in carrying 
        out its duties under this section.
            (3) Obtaining official data.--The Commission may secure 
        directly from any department or agency of the United States 
        information necessary to enable it to carry out this section. 
        Upon request of the Chairperson of the Commission, the head of 
        that department or agency shall furnish that information to the 
        Commission.
            (4) Mails.--The Commission may use the United States mails 
        in the same manner and under the same conditions as other 
        departments and agencies of the United States.
            (5) Administrative support services.--Upon the request of 
        the Commission, the Administrator of General Services shall 
        provide to the Commission, on a reimbursable basis, the 
        administrative support services necessary for the Commission to 
        carry out its duties under this section.
            (6) Staff.--The Commission may appoint personnel as it 
        considers appropriate, subject to the provisions of title 5, 
        United States Code, governing appointments in the competitive 
        service, and shall pay such personnel in accordance with the 
        provisions of chapter 51 and subchapter III of chapter 53 of 
        that title relating to classification and General Schedule pay 
        rates.
    (g) Authorization of Appropriations.--To carry out this section, 
there is authorized to be appropriated $500,000. Such sums shall remain 
available until expended.
    (h) Termination.--The Commission shall terminate 1 year after the 
date of the initial meeting of the Commission.