Indian Trust Asset Reform Act
TITLE I--RECOGNITION OF TRUST RESPONSIBILITY
(Sec. 102) This bill reaffirms the federal government's fiduciary responsibilities to Indians.
TITLE II--INDIAN TRUST ASSET MANAGEMENT DEMONSTRATION PROJECT
Indian Trust Asset Management Demonstration Project Act of 2015
(Sec. 203) The Department of the Interior must establish an Indian trust asset management demonstration project that allows tribes to propose Indian trust asset management plans. To be approved by Interior, these plans must establish objectives and priorities for trust assets and allocate sufficient funding for asset management to meet the objectives and priorities.
(Sec. 205) Interior may approve a trust asset management plan that allows the Indian tribe to enter into, approve, and carry out a surface leasing transaction or forest land management activity without Interior's approval, under certain conditions.
The United States is not liable for losses that result from: (1) a forest land management activity or lease under a trust asset management plan, or (2) management standards under a trust asset management plan that are less-stringent than Interior otherwise requires.
TITLE III--IMPROVING EFFICIENCY AND STREAMLINING PROCESSES
(Sec. 303) Interior may establish an Under Secretary for Indian Affairs who is to report directly to the Secretary of the Interior and coordinate with the Office of the Special Trustee for American Indians (OST) to ensure an orderly transition of the functions of the OST to an agency or bureau within Interior.
(Sec. 304) Interior must prepare a transition plan and timetable for the termination of the OST.
(Sec. 305) Appraisals and valuations of Indian trust property must be administered by a single administrative entity within Interior.
Interior must establish minimum qualifications for individuals to prepare appraisals and valuations of Indian trust property. An appraisal or valuation by a qualified person is considered final without being reviewed or approved by Interior.
(Sec. 306) Representatives of entities that advise Interior on Indian program budget or funding issues may make recommendations regarding the use of savings realized from the transfer of the functions of the OST.