Sec. 204. Indian trust asset management plan
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After the date on which an Indian tribe receives a notice from the Secretary under section 203(b)(2), the Indian tribe shall submit to the Secretary a proposed Indian trust asset management plan in accordance with paragraph (2). A proposed Indian trust asset management plan shall include provisions that— identify the trust assets that will be subject to the plan, including financial and nonfinancial trust assets; establish trust asset management objectives and priorities for Indian trust assets that are located within the reservation, or otherwise subject to the jurisdiction, of the Indian tribe; allocate trust asset management funding that is available for the Indian trust assets subject to the plan in order to meet the trust asset management objectives and priorities; if the Indian tribe has contracted or compacted functions or activities under the Indian Self-Determination and Education Assistance Act ( 25 U.S.C. 450 et seq. ) relating to the management of trust assets— identify the functions or activities that are being performed by the Indian tribe under the contracts or compacts; and describe the proposed management systems, practices, and procedures that the Indian tribe will follow; establish procedures for nonbinding mediation or resolution of any dispute between the Indian tribe and the United States relating to the trust asset management plan; include a process for the Indian tribe and the Federal agencies affected by the trust asset management plan to conduct annual evaluations to ensure that trust assets are being managed in accordance with the plan; and identify any Federal regulations that will be superseded by the plan.
For purposes of preparing and carrying out a management plan under this section, an Indian tribe that has compacted or contracted activities or functions under the Indian Self-Determination and Education Assistance Act ( 25 U.S.C. 450 et seq. ), for purposes of carrying out the activities or functions, may develop and carry out trust asset management systems, practices, and procedures that differ from any such systems, practices, and procedures used by the Secretary in managing the trust assets if the systems, practices, and procedures of the Indian tribe meet the requirements of the laws, standards, and responsibilities described in subsection (c).
The Secretary shall provide to an Indian tribe any technical assistance and information, including budgetary information, that the Indian tribe determines to be necessary for preparation of a proposed plan on receipt of a written request from the Indian tribe. Not later than 120 days after the date on which an Indian tribe submits a proposed Indian trust asset management plan under subsection (a), the Secretary shall approve or disapprove the proposed plan. The Secretary shall approve a proposed plan unless the Secretary determines that— the proposed plan fails to address a requirement under subsection (a)(2); the proposed plan includes one or more provisions that are inconsistent with subsection (c); or the cost of implementing the proposed plan exceeds the amount of funding available for the management of trust assets that would be subject to the proposed plan.
If the Secretary disapproves a proposed plan under paragraph (1)(B), the Secretary shall provide to the Indian tribe a written notice of the disapproval, including any reason why the proposed plan was disapproved. If a proposed plan is disapproved under paragraph (1)(B), the Indian tribe may resubmit an amended proposed plan not later than 90 days after the date on which the Indian tribe receives the notice under subparagraph (A). If the Secretary fails to approve or disapprove a proposed plan in accordance with paragraph (1), the plan shall be considered to be approved.
An Indian tribe may seek judicial review of the determination of the Secretary in accordance with subchapter II of chapter 5, and chapter 7, of title 5, United States Code (commonly known as the Administrative Procedure Act ) if— the Secretary disapproves the proposed plan of the Indian tribe under paragraph
(1)or (3); and the Indian tribe has exhausted any other administrative remedy available to the Indian tribe. An Indian trust asset management plan, and any activity carried out under the plan, shall not be approved unless the proposed plan is consistent with— all Federal treaties, statutes, Executive orders, and court decisions that are applicable to the trust assets, or the management of the trust assets, identified in the plan; and all tribal laws that are applicable to the trust assets, or the management of trust assets, identified in the plan, except to the extent that the laws are inconsistent with the treaties, statutes, Executive orders, and court decisions referred to in subparagraph (A). Subject to the laws referred to in paragraph (1)(A), an Indian trust asset management plan shall not be approved unless the Secretary determines that the plan will— protect trust assets from loss, waste, and unlawful alienation; promote the interests of the beneficial owner of the trust asset; conform, to the maximum extent practicable, to the preferred use of the trust asset by the beneficial owner, unless the use is inconsistent with a treaty, statute, regulation, Executive order, or court decision referred to in paragraph (1)(A); protect any applicable treaty-based fishing, hunting and gathering, and similar rights relating to the use, access, or enjoyment of a trust asset; and require that any activity carried out under the plan be carried out in good faith and with loyalty to the beneficial owner of the trust asset. An Indian trust asset management plan shall not be approved unless the Secretary determines that the plan is consistent with the trust responsibility of the United States to the Indian tribe and individual Indians. An Indian tribe may terminate an Indian trust asset management plan on any date after the date on which a proposed Indian trust asset management plan is approved by providing to the Secretary— a notice of the intent of the Indian tribe to terminate the plan; and a resolution of the governing body of the Indian tribe authorizing the termination of the plan. A termination of an Indian trust asset management plan under paragraph
(1)takes effect on October 1 of the first fiscal year following the date on which a notice is provided to the Secretary under paragraph (1)(A).
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Sec. 204
Indian trust asset management plan
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