uations to ensure that trust assets are being 
managed in accordance with the plan; and 
(G) identify any Federal regulations that 
will be superseded by the plan. 
(3) AUTHORITY
OF
INDIAN
TRIBES
TO
DE-
VELOP SYSTEMS, PRACTICES, AND PROCEDURES.— 
For purposes of preparing and carrying out a man-
agement plan under this section, an Indian tribe 
that has compacted or contracted activities or func-
tions under the Indian Self-Determination and Edu-
cation Assistance Act (25 U.S.C. 450 et seq.), for 
purposes of carrying out the activities or functions, 
may develop and carry out trust asset management 
systems, practices, and procedures that differ from 
any such systems, practices, and procedures used by 
the Secretary in managing the trust assets if the 
systems, practices, and procedures of the Indian 
tribe meet the requirements of the laws, standards, 
and responsibilities described in subsection (c). 
(4) TECHNICAL
ASSISTANCE
AND
INFORMA-
TION.—The Secretary shall provide to an Indian 
tribe any technical assistance and information, in-
cluding budgetary information, that the Indian tribe 
determines to be necessary for preparation of a pro-
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posed plan on receipt of a written request from the 
Indian tribe. 
(b) APPROVAL
AND DISAPPROVAL
OF PROPOSED 
PLANS.— 
(1) APPROVAL.— 
(A) IN
GENERAL.—Not later than 120 
days after the date on which an Indian tribe 
submits a proposed Indian trust asset manage-
ment plan under subsection (a), Secretary shall 
approve or disapprove the proposed plan. 
(B) REQUIREMENTS FOR DISAPPROVAL.— 
The Secretary shall approve a proposed plan 
unless the Secretary determines that— 
(i) the proposed plan fails to address 
a requirement under subsection (a)(2); 
(ii) the proposed plan includes one or 
more provisions that are inconsistent with 
subsection (c); or 
(iii) the cost of implementing the pro-
posed plan exceeds the amount of funding 
available for the management of trust as-
sets that would be subject to the proposed 
plan. 
(2) ACTION ON DISAPPROVAL.— 
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(A) NOTICE.—If the Secretary disapproves 
a proposed plan under paragraph (1)(B), the 
Secretary shall provide to the Indian tribe a 
written notice of the disapproval, including any 
reason why the proposed plan was disapproved. 
(B) ACTION
BY
TRIBES.—If a proposed 
plan is disapproved under paragraph (1)(B), 
the Indian tribe may resubmit an amended pro-
posed plan not later than 90 days after the date 
on which the Indian tribe receives the notice 
under subparagraph (A). 
(3) FAILURE TO APPROVE OR DISAPPROVE.—If 
the Secretary fails to approve or disapprove a pro-
posed plan in accordance with paragraph (1), the 
plan shall be considered to be approved. 
(4) JUDICIAL REVIEW.—An Indian tribe may 
seek judicial review of the determination of the Sec-
retary in accordance with subchapter II of chapter 
5, and chapter 7, of title 5, United States Code 
(commonly known as the ‘‘Administrative Procedure 
Act’’) if— 
(A) the Secretary disapproves the proposed 
plan of the Indian tribe under paragraph (1) or 
(3); and 
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(B) the Indian tribe has exhausted any 
other administrative remedy available to the In-
dian tribe. 
(c) APPLICABLE LAWS; STANDARDS; TRUST RE-
SPONSIBILITY.— 
(1) APPLICABLE LAWS.—An Indian trust asset 
management plan, and any activity carried out 
under the plan, shall not be approved unless the pro-
posed plan is consistent with— 
(A) all Federal treaties, statutes, Executive 
orders, and court decisions that are applicable 
to the trust assets, or the management of the 
trust assets, identified in the plan; and 
(B) all tribal laws that are applicable to 
the trust assets, or the management of trust as-
sets, identified in the plan, except to the extent 
that the laws are inconsistent with the treaties, 
statutes, Executive orders, and court decisions 
referred to in subparagraph (A). 
(2) STANDARDS.—Subject to the laws referred 
to in paragraph (1)(A), an Indian trust asset man-
agement plan shall not be approved unless the Sec-
retary determines that the plan will— 
(A) protect trust assets from loss, waste, 
and unlawful alienation; 
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(B) promote the interests of the beneficial 
owner of the trust asset; 
(C) conform, to the maximum extent prac-
ticable, to the preferred use of the trust asset 
by the beneficial owner, unless the use is incon-
sistent with a treaty, statute, regulation, Execu-
tive order, or court decision referred to in para-
graph (1)(A); 
(D) protect any applicable treaty-based 
fishing, hunting and gathering, and similar 
rights relating to the use, access, or enjoyment 
of a trust asset; and 
(E) require that any activity carried out 
under the plan be carried out in good faith and 
with loyalty to the beneficial owner of the trust 
asset. 
(3) TRUST RESPONSIBILITY.—An Indian trust 
asset management plan shall not be approved unless 
the Secretary determines that the plan is consistent 
with the trust responsibility of the United States to 
the Indian tribe and individual Indians. 
(d) TERMINATION OF PLAN.— 
(1) IN GENERAL.—An Indian tribe may termi-
nate an Indian trust asset management plan on any 
date after the date on which a proposed Indian trust 
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asset management plan is approved by providing to 
the Secretary— 
(A) a notice of the intent of the Indian 
tribe to terminate the plan; and 
(B) a resolution of the governing body of 
the Indian tribe authorizing the termination of 
the plan. 
(2) EFFECTIVE DATE.—A termination of an In-
dian trust asset management plan under paragraph 
(1) takes effect on October 1 of the first fiscal year 
following the date on which a notice is provided to 
the Secretary under paragraph (1)(A). 
SEC. 205. EFFECT OF TITLE. 
(a) LIABILITY.—Nothing in this title, or a trust asset 
management plan approved under section 204, shall inde-
pendently diminish, increase, create, or otherwise affect 
the liability of the United States or an Indian tribe partici-
pating in the Project for any loss resulting from the man-
agement of an Indian trust asset under an Indian trust 
asset management plan. 
(b) EFFECT ON OTHER LAWS.—Except for any regu-
lation superseded by a trust asset management plan ap-
proved under section 204, nothing in this title amends or 
otherwise affects the application of any treaty, statute, 
regulation, Executive order, or court decision that is appli-
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