Native American Technical Corrections Act of 2004 - Makes technical amendments to: (1) Federal law concerned with Indian arts and crafts with respect to powers of the Indian Arts and Craft Board, Board referral of criminal matters to the Attorney General for criminal proceedings, and imposition of administrative penalties by the Board for misrepresentation of Indian produced goods; (2) the Indian Financing Act of 1974 with respect to sale or assignment of loans and underlying security (the secondary market) under the Bureau of Indian Affairs Loan Guaranty Program; (3) the Indian Pueblo Lands Act of 1924 with respect to criminal jurisdiction on New Mexico Pueblo lands; and (4) the Indian Reorganization Act to increase from 25 to 99 years the allowable term of tribal land leases.
(Sec. 7) Directs the Secretary of the Army to convey all right, title, and interest of the United States in and to described land to be held in trust by the United States for the benefit of the Prairie Island Indian Community in Minnesota and included in the Prairie Island Indian Community Reservation in Goodhue County, Minnesota. Prohibits the use of such land for: (1) human habitation; (2) construction of any structure without the written approval of the District Engineer; or (3) gaming.
(Sec. 8) Amends Federal law to allow inclusion of binding arbitration clauses in all contracts, including leases, that affect tribally-owned land within the Gila River Indian Community.
(Sec. 9) Amends the Alaska Native Claims Settlement Act to allow approval of a Shareholder Descendants Resolution by a majority of the shares voted, either present or by proxy, at an annual meeting of an Alaska Native Regional Corporation.
(Sec. 10) Directs the Secretary of the Interior to execute instruments necessary to release the condition on a certain portion of land situated adjacent to the community of Beaver, Alaska, that the land revert to the United States if the land is not used for airport purposes. Directs the Beaver Kwit'chin Corporation to reconvey title to that portion to any individual (or successor in interest) who currently occupies a portion of the land. Permits the Corporation subsequently to convey the remaining land to other individuals or persons for community expansion purposes or retain it in whole or in part for community uses.
(Sec. 11) Directs the Secretary to accept the conveyance of certain parcels of land within the Puyallup reservation (in the State of Washington) and hold them in trust for the benefit of the Puyallup Indian Tribe.
(Sec. 12) Amends the Water Resources Development Act of 1999 with respect to investment of funds in the State of South Dakota, Cheyenne River Sioux, and the Lower Brule Sioux Terrestrial Wildlife Habitat Restoration Trust Funds. Requires that principal and interest amounts be invested separately in nonmarketable market-based special Treasury securities.
(Sec. 13) Amends Federal law to allow the devise of small fractional interests in individual Indian land on the Lake Traverse Indian Reservation, but only to the Sisseton-Wahpeton Sioux Tribe of North Dakota and South Dakota, or any person who is, or who is eligible to be, a member of the Tribe.