Sec. 305. Appraisals and valuations
169 words·~1 min read·
/bill/114/s/383/rs/section-305A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 18 months after the date of enactment of this Act, the Secretary, in consultation with Indian tribes and tribal organizations, shall ensure that appraisals and valuations of Indian trust property are administered by a single bureau, agency, or other administrative entity within the Department. Not later than 1 year after the date of enactment of this Act, the Secretary shall establish and publish in the Federal Register minimum qualifications for individuals to prepare appraisals and valuations of Indian trust property.
In any case in which an Indian tribe or Indian beneficiary submits to the Secretary an appraisal or valuation that satisfies the minimum qualifications described in subsection (b), and that submission acknowledges the intent of the Indian tribe or beneficiary to have the appraisal or valuation considered under this section, the appraisal or valuation— shall not require any additional review or approval by the Secretary; and shall be considered to be final for purposes of effectuating the transaction for which the appraisal or valuation is required.