Declares a specified moratorium on the application of current requirements for intestate descent of small fractional interests in land.

Indian Land Consolidation Act Amendments of 2006 - Amends the Indian Land Consolidation Act (ILCA) to revise the meaning of land and improvements to specify that the term "permament improvement" to land subject to probate means only a decedent's interest in any improvement permanently affixed to a parcel of trust or restricted lands that was owned in whole or in part by the decedent immediately before his or her death.

Postpones until July 21, 2007, the application date of certain ILCA revisions of requirements for intestate descent of small fractional interests in land (including the single-heir rule).

Authorizes the Secretary of the Interior to extend the period of inapplicability of such ILCA revisions (moratorium) for an additional year.

Revises requirements for the purchase option at probate. Requires the Secretary, in the case of multiple requests to purchase an interest in a decedent's land, to sell the interest to the eligible purchaser selected by the applicable heir, devisee, or surviving spouse. Repeals the requirement for sale of such an interest by public auction or sealed bid.

Applies only to wills executed after July 20, 2007, the presumption of joint tenancy in the devise of trust or restricted interests in the same parcel of land to more than one person.

Provides that the threshold for an involuntary purchase at probate (5% of the entire undivided ownership of a parcel of land) refers to the interest of the decedent in the parcel at the time of death, rather than the interest passing to the heir. States that the only eligible purchasers of an interest in an involuntary sale at probate are: (1) the Secretary under the fractional interest acquisition program; or (2) the Indian tribe, where the interest would otherwise be inherited by a nonmember. Applies these new requirements only to interests in the estates of decedents who die after July 20, 2007. Authorizes the Secretary to postpone such application date for an additional year.

Indian Land Consolidation Act Amendments of 2006 - Amends the Indian Land Consolidation Act (ILCA) to revise the meaning of land and improvements to specify that the term "permament improvement" to land subject to probate means only a decedent's interest in any improvement permanently affixed to a parcel of trust or restricted lands that was owned in whole or in part by the decedent immediately before his or her death.

Revises requirements for the purchase option at probate. Requires the Secretary, in the case of multiple requests to purchase an interest in a decedent's land, to sell the interest to the eligible purchaser selected by the applicable heir, devisee, or surviving spouse. Repeals the requirement for sale of such an interest by public auction or sealed bid.

Applies only to wills executed after July 20, 2007, the presumption of joint tenancy in the devise of trust or restricted interests in the same parcel of land to more than one person.

Provides that the threshold for an involuntary purchase at probate (5% of the entire undivided ownership of a parcel of land) refers to the interest of the decedent in the parcel at the time of death, rather than the interest passing to the heir. States that the only eligible purchasers of an interest in an involuntary sale at probate are: (1) the Secretary under the fractional interest acquisition program; or (2) the Indian tribe, where the interest would otherwise be inherited by a nonmember. Applies these new requirements only to interests in the estates of decedents who die after July 20, 2007. Authorizes the Secretary to postpone such application date for an additional year.