American Land Act
Authorizes the Departments of the Interior and Agriculture, for each of FY2016-FY2021, to offer for competitive sale by auction to eligible entities 8% of the federal land managed by the Bureau of Land Management and 8% of the National Forest System land. Includes as an "eligible entity": (1) a U.S. citizen, or (2) a corporation or partnership created or organized in or under the laws of the United States.
Requires the land to be sold to: (1) be configured to maximize marketability or achieve management objectives, and (2) include the mineral rights for not more than 50% of the total acreage if such inclusion is likely to maximize marketability.
Requires proceeds to be deposited into the Highway Trust Fund.