Native American Technical Corrections Act of 2006

(This measure has not been amended since it was passed by the Senate on April 7, 2006. The summary of that version is repeated here.)

Native American Technical Corrections Act of 2006 - Title I: Technical Amendments and Other Provisions Relating to Native Americans - (Sec. 101) Makes technical amendments to the Alaska Native Claims Settlement Act (ANCSA) and related federal law.

(Sec. 102) Provides that all land and interests in land in Alaska conveyed by the federal government under ANCSA to a Native Corporation, and then reconveyed by that Native Corporation, or successor in interest, in exchange for any other land or land interest in Alaska and located within the same region, to a Native Corporation under an exchange or other conveyance, shall be deemed, notwithstanding the conveyance or exchange, to have been conveyed pursuant to that Act.

(Sec. 103) Directs the Secretary of the Interior (Secretary) to accept certain funds from the state of Mississippi pursuant to a specified contract, and deposit them in trust account number PL7489708 at the Office of Trust Funds Management for the benefit of the Mississippi Band of Choctaw Indians.

(Sec. 104) Amends the Fallon Paiute Shoshone Indian Tribes Water Rights Settlement Act of 1990 to adjust the spending rule set forth in that Act for the Tribe's Settlement Fund. Authorizes expenditure of 6% of the average quarterly market value of the Settlement Fund over the preceding three years. Allows such expenditures for any fees and expenses incurred in connection with the investment of the Fund, for investment management, investment consulting, custodianship, and other transactional services or matters.

Provides that no monies from the Fund other than certain amounts authorized may be expended or obligated for any purpose. Authorizes the expenditure or obligation for per capita distributions to tribal members, in addition to certain already authorized Fund amounts, of any unexpended or unobligated portion of the annual 1.2% amount from any of the three immediately preceding Fund fiscal years subsequent to Fund FY 2005 (minus any accrued negative income).

Title II: Indian Land Leasing - (Sec. 201) Directs the Secretary of the Army to convey all U.S. right, title, and interest in and to specified land to the Secretary, to be held in trust for the benefit of the Prairie Island Indian Community in Red Wing, Minnesota. Prohibits the use of such land for: (1) human habitation; (2) construction of any structure without the written approval of the District Engineer; or (3) gaming.

(Sec. 202) Authorizes the Confederated Tribes on the Umatilla Indian Reservation, the Muckleshoot Indian Reservation, the Prairie Band Potawatomi Nation, the Fallon Paiute Shoshone Tribes, the Yurok Tribe, and the Hopland Band of Pomo Indians of the Hopland Rancheria to grant 99-year leases of restricted lands for certain purposes.

(Sec. 203) Provides that any actual rental proceeds from the lease of land acquired under specified federal law certified by the Secretary shall be deemed: (1) to constitute the rental value of that land; and (2) to satisfy the requirement for appraisal of that land.

Title III: National Indian Gaming Commission Funding Amendment - (Sec. 301) Amends the Indian Gaming Regulatory Act (IGRA) to subject the National Indian Gaming Commission to the Government Performance and Results Act of 1993 (GPRA).

Requires the Commission to submit a plan to provide technical assistance to tribal gaming operations in accordance with GPRA. Revises the $8 million maximum total amount of all fees the Commission may impose during any fiscal year under the established schedule of fees. Replaces $8 million with a maximum of 0.080% of the gross gaming revenues of all gaming operations subject to regulation under IGRA.

Title IV: Indian Financing - (Sec. 401) Amends the Indian Financing Act of 1974 to authorize the Secretary of the Interior to guarantee or insure all or any portion of a loan under the loan guaranty program to nonprofit borrowers (as well as, under current law, for-profit borrowers).

Revises requirements for retransfers of loans by transferees (in the secondary market).

Provides for compensation of the fiscal transfer agent.

Exempts loans made by certified Community Development Finance Institutions from the denial of eligibility for guaranty or insurance of loans made by any federal agency or instrumentality, or by an organization of Indians from funds borrowed from the United States, and loans whose interest is excluded from gross income for income tax purposes.

Increases from $500 million to $1.5 billion the limit on the aggregate amount of loans or surety bonds which are insured or guaranteed by the Secretary.

Title V: Native American Probate Reform Technical Amendment - (Sec. 501) Makes technical amendments to the Indian Land Consolidation Act, the American Indian Probate Reform Act of 2004, and other related federal law regarding the transfer and exchange of restricted Indian lands.