This bill permanently extends the "first right of refusal" for Native American tribes to purchase assets and property interests held by others within tribal lands. The legislation, which amends a 1954 law governing tribal asset management, requires that whenever someone wants to sell, gift, or transfer their interest in tribal real property, they must first offer it to the tribe before completing the transaction. The bill affects tribal members and other individuals or entities that hold interests in tribal assets, as well as the tribes themselves, by giving tribes priority to maintain control over property within their territories. The legislation does not allocate specific funding but does require the Secretary of the Interior to maintain an annual list of asset holders and notify them of their obligation to offer properties to the tribe before transferring them. There is no specified timeline for implementation beyond the requirement that the Secretary maintain current notification practices on an annual basis.
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