(b) SUBSEQUENT MEETINGS.—The Commission shall 
meet at the call of the Chairperson. 
(c) QUORUM.—7 members of the Commission shall 
constitute a quorum, but a lesser number of members may 
hold hearings. 
(d) CHAIRPERSON.—The Commission shall elect a 
Chairperson from among the members of the Commission. 
SEC. 204. DUTIES. 
(a) REVIEWS AND ASSESSMENTS.—The Commission 
shall review and assess— 
(1) Federal laws (including regulations) appli-
cable or relating to the management and administra-
tion of Indian trust assets; and 
(2) the practices of the Department of the Inte-
rior relating to the management and administration 
of Indian trust assets. 
(b) CONSULTATION.—In conducting the reviews and 
assessments under subsection (a), the Commission shall 
consult with— 
(1) the Secretary of the Interior; 
(2) federally recognized Indian tribes; and 
(3) organizations that represent the interests of 
individual owners of Indian trust assets.
(c) RECOMMENDATIONS.—After conducting the re-
views and assessments under subsection (a), the Commis-
sion shall develop recommendations with respect to— 
(1) changes to Federal law that would improve 
the management and administration of Indian trust 
assets by the Secretary of the Interior; 
(2) changes to Indian trust asset management 
and administration practices that would— 
(A) better protect and conserve Indian 
trust assets; 
(B) improve the return on those assets to 
individual Indian and Indian tribal bene-
ficiaries; or 
(C) improve the level of security of indi-
vidual Indian and Indian tribal money account 
data and assets; and 
(3) proposed Indian trust asset management 
standards that are consistent with any Federal law 
that is otherwise applicable to the management and 
administration of the assets. 
(d) REPORT.—Not later than 2 years after the date 
on which the Commission holds the initial meeting, the 
Commission shall submit to the Committee on Indian Af-
fairs of the Senate, the Committee on Resources of the
House of Representatives, and the Secretary of the Inte-
rior a report that includes— 
(1) an overview and the results of the reviews 
and assessments under subsection (a); and 
(2) any recommendations of the Commission 
under subsection (c). 
SEC. 205. POWERS. 
(a) HEARINGS.—The Commission may hold such 
hearings, meet and act at such times and places, take such 
testimony, and receive such evidence as the Chairperson 
determines to be appropriate to carry out this title. 
(b) INFORMATION FROM FEDERAL AGENCIES.— 
(1) IN GENERAL.—The Commission may secure 
directly from a Federal agency such information as 
the Chairperson determines to be necessary to carry 
out this title. 
(2) PROVISION OF INFORMATION.—On request 
of the Chairperson, the head of a Federal agency 
shall provide information to the Commission. 
(c) ACCESS TO PERSONNEL.—For purposes of car-
rying out this title, the Commission shall have reasonable 
access to staff responsible for Indian trust asset manage-
ment and administration of— 
(1) the Department of the Interior; 
(2) the Department of the Treasury; and
(3) the Department of Justice. 
(d) POSTAL SERVICES.—The Commission may use 
the United States mail in the same manner and under the 
same conditions as other Federal agencies. 
(e) GIFTS.—The Commission may accept, use, and 
dispose of gifts or donations of services or property to the 
same extent and under the same conditions as other Fed-
eral agencies. 
SEC. 206. COMMISSION PERSONNEL MATTERS. 
(a) COMPENSATION OF MEMBERS.— 
(1) NON-FEDERAL EMPLOYEES.—A member of 
the Commission who is not an officer or employee of 
the Federal Government shall be compensated at a 
rate equal to the daily equivalent of the annual rate 
of basic pay prescribed for level IV of the Executive 
Schedule under section 5315 of title 5, United 
States Code, for each day (including travel time) 
during which the member is engaged in the perform-
ance of the duties of the Commission. 
(2) FEDERAL EMPLOYEES.—A member of the 
Commission who is an officer or employee of the 
Federal Government shall serve without compensa-
tion in addition to the compensation received for the 
services of the member as an officer or employee of 
the Federal Government.
(b) TRAVEL EXPENSES.—A member of the Commis-
sion shall be allowed travel expenses, including per diem 
in lieu of subsistence, at rates authorized for an employee 
of an agency under subchapter I of chapter 57 of title 
5, United States Code, while away from home or regular 
place of business of the member in the performance of the 
duties of the Commission. 
(c) STAFF.— 
(1) IN GENERAL.—The Chairperson may, with-
out regard to the civil services laws (including regu-
lations), appoint and terminate an executive director 
and such other additional personnel as are necessary 
to enable the Commission to perform the duties of 
the Commission. 
(2) CONFIRMATION
OF
EXECUTIVE
DIREC-
TOR.—The employment of an executive director shall 
be subject to confirmation by the Commission. 
(3) COMPENSATION.— 
(A) IN GENERAL.—Except as provided in 
subparagraph (B), the Chairperson may fix the 
compensation of the executive director and 
other personnel without regard to the provisions 
of chapter 51 and subchapter III of title 5, 
United States Code, relating to classification of 
positions and General Schedule pay rates.
(B) MAXIMUM RATE OF PAY.—The rate of 
pay for the executive director and other per-
sonnel shall not exceed the rate payable for 
level V of the Executive Schedule under section 
5316 of title 5, United States Code. 
SEC. 207. EXEMPTION FROM FACA. 
The Federal Advisory Committee Act (5 U.S.C. App.) 
shall not apply to the Commission if all hearings of the 
Commission are held open to the public. 
SEC. 208. AUTHORIZATION OF APPROPRIATIONS. 
There are authorized to be appropriated such sums 
as are necessary to carry out this title. 
SEC. 209. TERMINATION OF COMMISSION. 
The Commission and the authority of the Commis-
sion under this title shall terminate on the date that is 
3 years after the date on which the Commission holds the 
initial meeting of the Commission. 
TITLE III—INDIAN TRUST ASSET 
MANAGEMENT 
DEMONSTRA-
TION PROJECT ACT 
SEC. 301. SHORT TITLE. 
This title may be cited as the ‘‘Indian Trust Asset 
Management Demonstration Project Act of 2005’’. 
SEC. 302. DEFINITIONS. 
In this title:
(1) PROJECT.—The term ‘‘Project’’ means the 
Indian trust asset management demonstration 
project established under section 303(a). 
(2) OTHER INDIAN TRIBE.—The term ‘‘other 
Indian tribe’’ means an Indian tribe that— 
(A) is federally recognized; 
(B) is not a section 131 Indian tribe; and 
(C) submits an application under section 
303(c). 
(3) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of the Interior. 
(4) SECTION
131
INDIAN
TRIBE.—The term 
‘‘section 131 Indian tribe’’ means any Indian tribe 
that is participating in the demonstration project 
under section 131 of title III, division E of the Con-
solidated Appropriations Act, 2005 (Public Law 
108–447; 118 Stat. 2809). 
SEC. 303. ESTABLISHMENT OF DEMONSTRATION PROJECT; 
SELECTION 
OF 
PARTICIPATING 
INDIAN 
TRIBES. 
(a) IN GENERAL.—The Secretary shall establish and 
carry out an Indian trust asset management demonstra-
tion project, in accordance with this title. 
(b) 
SELECTION
OF
PARTICIPATING
INDIAN 
TRIBES.—
(1) SECTION
131
INDIAN
TRIBES.—A section 
131 Indian tribe shall be eligible to participate in 
the Project if the section 131 Indian tribe submits 
to the Secretary an application under subsection (c). 
(2) OTHER TRIBES.— 
(A) IN GENERAL.—Any other Indian tribe 
shall be eligible to participate in the Project 
if— 
(i) the other Indian tribe submits to 
the Secretary an application under sub-
section (c); and 
(ii) the Secretary approves the appli-
cation of the other Indian tribe. 
(B) LIMITATION.— 
(i) 30 OR FEWER APPLICANTS.—If 30 
or fewer other Indian tribes submit appli-
cations under subsection (c), each of the 
other Indian tribes shall be eligible to par-
ticipate in the Project. 
(ii) MORE THAN 30 APPLICANTS.— 
(I) IN GENERAL.—If more than 
30 other Indian tribes submit applica-
tions under subsection (c), the Sec-
retary shall select 30 other Indian 
tribes to participate in the Project.
(II) PREFERENCE.—In selecting 
other Indian tribes under subclause 
(I), the Secretary shall give preference 
to other Indian tribes the applications 
of which were first received by the 
Secretary. 
(3) NOTICE.— 
(A) IN
GENERAL.—The Secretary shall 
provide a written notice to each Indian tribe se-
lected to participate in the Project. 
(B) CONTENTS.—A notice under subpara-
graph (A) shall include— 
(i) a statement that the application of 
the Indian tribe has been approved by the 
Secretary; and 
(ii) a requirement that the Indian 
tribe shall submit to the Secretary a pro-
posed Indian trust asset management plan 
in accordance with section 304. 
(c) APPLICATION.— 
(1) IN GENERAL.—To be eligible to participate 
in the Project, an Indian tribe shall submit to the 
Secretary a written application in accordance with 
paragraph (2).
(2) REQUIREMENTS.—The Secretary shall take 
into consideration an application under this sub-
section only if the application— 
(A) includes a copy of a resolution or other 
appropriate action by the governing body of the 
Indian tribe, as determined by the Secretary, in 
support of or authorizing the application; 
(B) is received by the Secretary by the 
date that is 180 days after the date of enact-
ment of this Act; and 
(C) states that the Indian tribe is request-
ing to participate in the Project. 
(d) DURATION.—The Project shall remain in effect 
for a period of 8 years after the date of enactment of this 
Act. 
SEC. 304. INDIAN TRUST ASSET MANAGEMENT PLAN. 
(a) PROPOSED PLAN.— 
(1) SUBMISSION.— 
(A) IN
GENERAL.—Not later than 120 
days after the date on which an Indian tribe re-
ceives a notice from the Secretary under section 
303(b)(3), the Indian tribe shall submit to the 
Secretary a proposed Indian trust asset man-
agement plan in accordance with paragraph (2). 
(B) TIME LIMITATIONS.—
(i) IN GENERAL.—Except as provided 
in clause (ii), any Indian tribe that fails to 
submit the Indian trust asset management 
plan of the Indian tribe by the date speci-
fied in subparagraph (A) shall no longer be 
eligible to participate in the Project. 
(ii) EXTENSION.—The Secretary shall 
grant an extension of not more than 60 
days to an Indian tribe if the Indian tribe 
submits a written request for such an ex-
tension before the date described in sub-
paragraph (A). 
(2) CONTENTS.—A proposed Indian trust asset 
management plan shall include provisions that— 
(A) identify the trust assets that will be 
subject to the plan, including financial and non-
financial trust assets; 
(B) establish trust asset management ob-
jectives and priorities for Indian trust assets 
that are located within the reservation, or oth-
erwise subject to the jurisdiction, of the Indian 
tribe; 
(C) allocate trust asset management fund-
ing that is available for the Indian trust assets
subject to the plan in order to meet the trust 
asset management objectives and priorities; 
(D) if the Indian tribe has contracted or 
compacted functions or activities under the In-
dian Self-Determination and Education Assist-
ance Act (25 U.S.C. 450 et seq.) relating to the 
management of trust assets— 
(i) identify the functions or activities 
that are being performed by the Indian 
tribe under the contracts or compacts; and 
(ii) describe the proposed manage-
ment systems, practices, and procedures 
that the Indian tribe will follow; and 
(E) establish procedures for nonbinding 
mediation or resolution of any dispute between 
the Indian tribe and the United States relating 
to the trust asset management 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-
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), the 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 1 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.— 
(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.—An Indian tribe 
the proposed plan of which is disapproved 
under paragraph (1)(B) may resubmit an 
amended proposed 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 disapproved under 
clauses (i) and (ii) of paragraph (1)(B). 
(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 
(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, regula-
tions, Executive orders, and court decisions that 
are applicable to the trust assets, or the man-
agement 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, regulations, 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; 
(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 
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. 305. EFFECT OF TITLE. 
(a) LIABILITY.—Nothing in this title, or a trust asset 
management plan approved under section 304, 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.—Nothing in this title 
amends or otherwise affects the application of any treaty, 
statute, regulation, Executive order, or court decision that 
is applicable to Indian trust assets or the management or 
administration of Indian trust assets, including the Indian 
Self-Determination and Education Assistance Act (25 
U.S.C. 450 et seq.). 
(c) TRUST RESPONSIBILITY.—Nothing in this title 
diminishes or otherwise affects the trust responsibility of 
the United States to Indian tribes and individual Indians. 
TITLE IV—FRACTIONAL INTER-
EST 
PURCHASE 
AND 
CON-
SOLIDATION PROGRAM 
SEC. 401. FRACTIONAL INTEREST PROGRAM. 
Section 213 of the Indian Land Consolidation Act 
(25 U.S.C. 2212) is amended— 
(1) by redesignating subsection (d) as sub-
section (h); and
(2) by inserting after subsection (c) the fol-
lowing: 
‘‘(d) PURCHASE OF INTERESTS IN FRACTIONATED 
INDIAN LAND.— 
‘‘(1) INCENTIVES.—In acquiring an interest 
under this section in any parcel of land that includes 
undivided trust or restricted interests owned by not 
less than 20 separate individuals, as determined by 
the Secretary, the Secretary may include in the of-
fered purchase price for the interest, in addition to 
fair market value, an amount not less than $100 
and not to exceed $350, as an incentive for the 
owner to sell the interest to the Secretary. 
‘‘(2) SALE OF ALL TRUST OR RESTRICTED IN-
TERESTS.—If an individual agrees to sell to the Sec-
retary all trust or restricted interests owned by the 
individual, the Secretary may include in the offered 
purchase price, in addition to fair market value and 
the incentive described in paragraph (1), an amount 
not to exceed $2,000, as the Secretary determines to 
be appropriate, taking into consideration the avoided 
costs to the United States of probating the estate of 
the individual or an heir of the individual. 
‘‘(e) CERTAIN PARCELS OF HIGHLY FRACTIONATED 
INDIAN LAND.—
‘‘(1) DEFINITION OF OFFEREE.—In this sub-
section, the term ‘offeree’ does not include the In-
dian tribe that has jurisdiction over a parcel of land 
for which an offer is made. 
‘‘(2) OFFER TO PURCHASE.— 
‘‘(A) IN GENERAL.—If the Secretary deter-
mines that a tract of land consists of not less 
than 200 separate undivided trust or restricted 
interests, the Secretary may offer to purchase 
the interests in the tract, in accordance with 
this subsection, for an amount equal to the sum 
of— 
‘‘(i) the fair market value of the inter-
ests; and 
‘‘(ii) an additional amount, to be de-
termined by the Secretary, not less than 
triple the fair market value of the interest. 
‘‘(B) REQUIREMENT.—The Secretary shall 
make an offer under subparagraph (A) not 
later than 3 days before the date on which the 
Secretary mails a notice of the offer to the 
offeree under paragraph (3). 
‘‘(3) NOTICE OF OFFER.— 
‘‘(A) IN
GENERAL.—The Secretary shall 
provide to an offeree, by certified mail to the
last known address of the offeree, a notice of 
any offer to purchase land under this sub-
section. 
‘‘(B) INCLUSIONS.—A notice under sub-
paragraph (A) shall include in plain language, 
as determined by the Secretary— 
‘‘(i) the date on which the offer was 
made; 
‘‘(ii) the name of the offeree; 
‘‘(iii) the location of the tract of land 
containing the interest that is the subject 
of the offer; 
‘‘(iv) the size of the interest of the 
offeree, expressed in terms of a fraction or 
a percentage of the tract of land described 
in clause (iii); 
‘‘(v) the fair market value of the tract 
of land described in clause (iii); 
‘‘(vi) the fair market value of the in-
terest of the offeree; 
‘‘(vii) the amount offered for the in-
terest in addition to fair market value 
under paragraph (2)(A)(ii); 
‘‘(viii) a statement that the offeree 
shall be considered to have accepted the
offer for the amount stated in the notice 
unless a notice of rejection form is depos-
ited in the United States mail not later 
than 90 days after the date on which the 
offer is received; and 
‘‘(ix) a self-addressed, postage pre- 
paid notice of rejection form. 
‘‘(4) TREATMENT OF OFFER.— 
‘‘(A) IN GENERAL.—An offer made under 
this subsection shall be considered to be accept-
ed by the offeree if— 
‘‘(i) the certified mail receipt for the 
offer is signed by the offeree; and 
‘‘(ii) the notice of rejection form de-
scribed in paragraph (3)(B)(ix) is not de-
posited in the United States mail by the 
date that is 90 days after the date on 
which the offer is received. 
‘‘(B) REJECTION.—An offer made under 
this subsection shall be considered to be re-
jected by the offeree if— 
‘‘(i) the notice of rejection form de-
scribed in paragraph (3)(B)(ix) is depos-
ited in the United States mail by the date
that is 90 days after the date on which the 
offer is received; or 
‘‘(ii) the certified mail receipt for the 
offer is returned to the Secretary unsigned 
by the offeree. 
‘‘(5) WITHDRAWAL OF ACCEPTANCE; NOTICE.— 
‘‘(A) WITHDRAWAL
OF
ACCEPTANCE.—A 
person that is considered to have accepted an 
offer under paragraph (4)(A) may withdraw the 
acceptance by depositing in the United States 
mail a notice of withdrawal of acceptance form 
by the date that is 30 days after the date of re-
ceipt of the notice under subparagraph (B). 
‘‘(B) NOTICE.—The Secretary shall pro-
vide to any person that is considered to have 
accepted an offer under paragraph (4)(A), by 
certified mail, restricted delivery, to the last 
known address of the person, a preaddressed, 
postage prepaid withdrawal of acceptance form 
and a notice stating that— 
‘‘(i) the offer made to the person is 
considered to be accepted; and 
‘‘(ii) the person has the right to with-
draw the acceptance by depositing in the 
United States mail the notice of with-
drawal of acceptance form by the date that 
is 30 days after the date on which the no-
tice was delivered to the person. 
‘‘(6) NOTICE OF ACCEPTANCE AND RIGHT TO 
APPEAL.—The Secretary shall provide to any person 
that has been served with a notice under paragraph 
(5)(B) and fails to withdraw the acceptance of the 
offer in accordance with paragraph (5)(A), by first 
class mail to the last known address of the person, 
a notice stating that— 
‘‘(A) the offer made to the person is con-
sidered to be accepted and not timely with-
drawn; and 
‘‘(B) after exhausting all administrative 
remedies, the person may appeal any deter-
mination of the Secretary in accordance with 
paragraph (7). 
‘‘(7) JUDICIAL REVIEW.—A person described in 
paragraph (6) may appeal any determination of the 
Secretary with respect to— 
‘‘(A) the number of owners of undivided 
interests in a tract of land required under para-
graph (2); 
‘‘(B) the fair market value of a tract of 
land or interest in land;
‘‘(C) the date on which a notice of rejec-
tion form was deposited in the United States 
mail under paragraph (4)(B)(i); or 
‘‘(D) the date on which a notice of with-
drawal of acceptance form was deposited in the 
United States mail under paragraph (5)(A). 
‘‘(f) OFFER
TO SETTLE CLAIMS AGAINST
THE 
UNITED STATES.— 
‘‘(1) IN GENERAL.—The Secretary may make 
an offer to any individual owner (not including an 
Indian tribe) of a trust or restricted interest in a 
tract of land to settle any claim that the owner may 
have against the United States relating to the spe-
cific tract of land of which the interest is a part (not 
including a claim for an accounting described in title 
I of the Indian Trust Reform Act of 2005). 
‘‘(2) REQUIREMENTS.—An offer to settle claims 
under this subsection shall— 
‘‘(A) be in writing; 
‘‘(B) be delivered to an individual owner by 
the Secretary in person or through first class 
mail; and 
‘‘(C) include— 
‘‘(i) the name of the individual owner;
‘‘(ii) a description of the tract of land 
to which the offer relates; 
‘‘(iii) the amount offered to settle a 
claim of the individual owner; 
‘‘(iv) the manner and date by which 
the individual owner shall accept the offer; 
‘‘(v) a statement that the individual 
owner is under no obligation to accept the 
offer; 
‘‘(vi) a statement that the individual 
owner has the right to consult an attorney 
or other advisor before accepting the offer; 
‘‘(vii) a statement that acceptance of 
the offer by the individual owner will result 
in a full and final settlement of all claims, 
known and unknown, of the individual 
owner (including the heirs and assigns of 
the individual owner) against the United 
States relating to the tract of land identi-
fied in the offer; and 
‘‘(viii) a statement that the settlement 
proposed by the offer does not cover any 
claim for an accounting described in title I 
of the Indian Trust Reform Act of 2005.
‘‘(3) ACCEPTANCE.—No acceptance of an offer 
under this subsection shall be valid or binding on the 
individual owner unless the acceptance— 
‘‘(A) is in writing; 
‘‘(B) is signed by the individual owner; 
‘‘(C) is notarized; and 
‘‘(D) is attached to a copy of, or contains 
all material terms of, the offer to which the ac-
ceptance corresponds. 
‘‘(4) LIMITATION.—No offer to purchase an in-
terest under this section or any other provision of 
law shall be conditioned on the acceptance of an 
offer to settle a claim under this subsection. 
‘‘(5) OTHER LAWS.—The authority of the Sec-
retary to settle claims under this subsection shall be 
in addition to, and not in lieu of, the authority of 
the Secretary to settle claims under any other provi-
sion of Federal law. 
‘‘(g) BORROWING FROM TREASURY.— 
‘‘(1) ISSUANCE OF OBLIGATIONS.— 
‘‘(A) IN
GENERAL.—To the extent ap-
proved in annual appropriations Acts, the Sec-
retary may issue to the Secretary of the Treas-
ury obligations in such amounts as the Sec-
retary determines to be necessary to acquire in-
terests under this Act, subject to approval of 
the Secretary of the Treasury, and bearing in-
terest at a rate to be determined by the Sec-
retary of the Treasury, taking into consider-
ation current market yields on outstanding 
marketable obligations of the United States of 
comparable maturities to the obligations. 
‘‘(B) LIMITATION.—The aggregate amount 
of obligations under subparagraph (A) out-
standing 
at 
any 
time 
shall 
not 
exceed 
$[llllllllll]. 
‘‘(2) FORMS AND DENOMINATIONS.—The obli-
gations issued under paragraph (1) shall be in such 
forms and denominations, and subject to such other 
terms and conditions, as the Secretary of the Treas-
ury may prescribe. 
‘‘(3) REPAYMENT.— 
‘‘(A) 
IN
GENERAL.—Revenues 
derived 
from land restored to the Tribe under this Act 
shall be used by the Secretary to pay the prin-
cipal and interest on the obligations issued 
under paragraph (1). 
‘‘(B) ASSURANCE
OF
REPAYMENT.—The 
Secretary shall ensure, to the maximum extent 
possible, that the revenues described in sub-
paragraph (A) provide reasonable assurance of 
repayment of the obligations issued under para-
graph (1). 
‘‘(4) AUTHORIZATION
OF
APPROPRIATIONS.— 
There are authorized to be appropriated to the Sec-
retary for each fiscal year beginning after the date 
of enactment of this subsection such sums as are 
necessary to cover any difference between— 
‘‘(A) the total amount of repayments of 
principal and interest on obligations issued to 
the Secretary of the Treasury under paragraph 
(1) during the previous fiscal year; and 
‘‘(B) the total amount of repayments de-
scribed in subparagraph (A) that were contrac-
tually required to be made to the Secretary of 
the Treasury during that fiscal year. 
‘‘(h) RECEIPT OF PAYMENTS HAVE NO IMPACT ON 
BENEFITS UNDER OTHER FEDERAL PROGRAMS.—The 
receipt of a payment by an offeree under this title shall 
not be— 
‘‘(1) subject to Federal or State income tax; or 
‘‘(2) treated as benefits or otherwise taken into 
account in determining the eligibility of the offeree 
for, or the amount of benefits under, any other Fed-
eral program, including the social security program,