3.0.0 4322 2023-01-13T04:49:40Z 2023-01-13T04:49:40Z House H HR 2005-11-15 109 slia00 Indian Affairs Committee Senate Other Hearings by 2006-03-01T20:20:23Z hsii00 Natural Resources Committee House Standing Referred to 2005-11-15T15:23:00Z Indian Trust Reform Act of 2005 109 1439 S 2006-03-28 Committee on Indian Affairs. Hearings held. Hearings printed: S.Hrg. 109-483. Identical bill CRS 2006-03-01 slia00 Indian Affairs Committee Senate Committee on Indian Affairs. Hearings held. Committee 2005-11-15 Referred to the House Committee on Resources. IntroReferral H11100 2 House floor actions hsii00 Natural Resources Committee 2005-11-15 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-11-15 Introduced in House IntroReferral 1000 9 Library of Congress P000419 Rep. Pombo, Richard W. [R-CA-11] RICHARD POMBO R CA W. 11 N R000011 Rep. Rahall, Nick J., II [D-WV-3] NICK RAHALL D WV J. 3 2005-11-15 True Native Americans Accounting Auditing Congress Congressional investigations Congressional reporting requirements Department of the Interior Economics and Public Finance Energy Executive reorganization Federal advisory bodies Federal officials Federal-Indian relations Finance and Financial Sector Financial statements Government Operations and Politics Government paperwork Government trust funds Indian claims Indian lands Interest Law Legal fees Mines and mineral resources Public Lands and Natural Resources Real estate appraisal Standards Trusts and trustees Valuation Native Americans 00 2005-11-15 Introduced in House 2006-12-18T17:21:33Z Indian Trust Reform Act of 2005 - Establishes in the general fund of the Treasury the Individual Indian Accounting Claim Settlement Fund, administered by a Special Master appointed by the Secretary of the Treasury. Requires the Special Master to distribute at least 80% of amounts in the Fund to individual claimants.

Establishes the Indian Trust Asset Management Review Commission to assess federal laws and regulations, and the practices of the Department of the Interior, relating to the management and administration of Indian trust asseets.

Indian Trust Asset Management Demonstration Project Act of 2005 - Directs the Secretary of the Interior (Secretary) to establish an eight-year Indian Trust Asset Management Demonstration Project. Requires a participating Indian tribe to submit to the Secretary for approval a proposed Indian trust asset management plan meeting certain requirements. Amends the Indian Land Consolidation Act to authorize the Secretary to: (1) include an incentive bonus of between $100 and $350 in the fair market value purchase price offered for an interest in any parcel of Indian land that includes undivided trust or restricted interests owned by not less than 20 separate individuals (fractionated Indian land); (2) extend the incentive bonus up to $2,000 if an individual agrees to sell to the Secretary all trust or restricted interests owned; and (3) offer up to quadruple the fair market value of a tract of land consisting of at least 200 separate undivided trust or restricted interests. Establishes in the Department of the Interior the position of Under Secretary for Indian Affairs, and transfers to the Under Secretary any function of the Assistant Secretary for Indian Affairs and of the Office of Special Trustee for American Indians (which has been terminated) that has not been carried out as of the effective date of this Act. Requires the new Under Secretary to develop an inventory of Indian trust assets and resources. Directs the Secretary to prepare financial statements for individual Indian, Indian tribal, and other Indian trust accounts in accordance with generally accepted accounting principles of the federal government, as well as an internal control report. Requires the Comptroller General to contract with an independent external auditor to audit the financial statements prepared under this Act.

]]> Indian Trust Reform Act of 2005 Display Title Indian Trust Reform Act of 2005 Official Title as Introduced To provide for Indian trust asset management reform and resolution of historical accounting claims, and for other purposes. Introduced in House IH Short Titles as Introduced Indian Trust Reform Act of 2005 Short Titles as Introduced for portions of this bill Indian Trust Asset Management Demonstration Project Act of 2005 Introduced in House 2005-11-15T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr4322ih/xml/BILLS-109hr4322ih.xml 2006-03-01 Committee on Indian Affairs. Hearings held. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.