H.R. 5515: Indian Trust Asset Reform Amendment Act

This bill, known as the Indian Trust Asset Reform Amendment Act, aims to make various amendments to the existing Indian Trust Asset Reform Act. The key provisions of the bill can be summarized as follows:

Definitions

The bill updates the definitions in the act, specifically:

• Indian Tribe: The definition is clarified to refer to any tribe, band, nation, pueblo, village, or community of Indians that is recognized by the Secretary of the Interior.
• Tribal Organization: Added to the definition, a tribal organization is described as a legally established organization representing Indians, which must be controlled or elected by the Indian community it serves. It also requires approval from each tribe if a contract or grant is intended to benefit multiple tribes.

Indian Trust Asset Management Project

The bill establishes a framework for an Indian Trust Asset Management Project, where the Secretary of the Interior will oversee the project. Key points include:

• Indian tribes can participate by submitting a proposed management plan for their trust assets.
• Tribal organizations can represent tribes in submitting these plans but must have a resolution from the tribe’s governing body supporting this action.

Indian Trust Asset Management Plan

Changes are made to the management plan submitted by tribes. These include:

• The bill allows for amendments to an approved plan by the tribe or its representative.
• Tribes operating under an approved management plan will still be eligible for federal funding to support their activities.

Trust Asset Management

Amendments to the management of trust assets are specified:

• Tribes are authorized to manage their trust assets, including adopting forest management plans and carrying out leasing transactions, without the Secretary's prior approval, provided these actions are consistent with their management plans.
• The bill defines "trust assets" to include various resources held in trust by the federal government for tribes.

Trust Responsibility

The bill makes it clear that its provisions do not alter the federal government's trust responsibility to Indian tribes. This means the government's obligations and responsibilities toward tribes remain intact regardless of the changes made by this bill.

General Structure of Amendments

Overall, the amendments focus on enhancing the autonomy of Indian tribes regarding the management and control of their trust assets, while ensuring their rights and responsibilities are recognized and preserved.

Relevant Companies

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