To provide for and approve the settlement of certain land claims of the Bay Mills Indian Community and the Sault Ste. Marie Tribe of Chippewa Indians.

Requires that, upon relinquishment by the Bay Mills Indian Community of all claims to the Charlotte Beach Lands (certain Michigan lands that are located within the Community's traditional homelands) and dismissal of specified suits by the Community concerning title to such lands: (1) the Secretary of the Interior shall take certain Alternative Lands into trust for the benefit of such Community as part of the settlement of the Community's claim to the Charlotte Beach Lands; and (2) the Alternative Lands shall become part of the Community's reservation.

Directs the Secretary to take certain other Michigan lands (that meet specified requirements concerning size and location) into trust for the benefit of the Sault Ste. Marie Tribe of Chippewa Indians of Michigan as settlement of that Tribe's claims to the Charlotte Beach Lands.