A bill to declare that the United States holds certain Chilocco Indian School lands in trust for the Kaw, Otoe-Missouria, Pawnee, Ponca, and Tonkawa Indian Tribes of Oklahoma.

Declares that all Federal rights, title, and interests to the surface estate (and specified rights to the mineral estate) in specified lands of the Cherokee Nation of Oklahoma are to be held in trust by the United States for the Kaw, Otoe-Missouria, Pawnee, Ponca, and Tonkawa Indian Tribes of Oklahoma. Provides that nothing in this Act shall deprive any person (other than the Cherokee Nation of Oklahoma) of any right-of-way, mining claim, grazing permit, water right, or other interest in such lands before enactment of this Act.

Sets forth a formula for the division and distribution of rents, royalties, grazing fees, and other income derived from such lands which remains unexpended, after the payment of maintenance costs, prior to the transfer of such lands to the Cherokee Nation of Oklahoma. Restricts the use of such income to the maintenance, repair, or development of such lands.