The Department of the Interior (DOI) has announced that it has launched significant efforts to purchase fractional interests in American Indian land from willing sellers. The DOI also announced that it is seeking cooperative agreements with Native American tribes in order to purchase highly fractionated trust land for the purpose of consolidating ownership for tribal use.
The Land Buy-Back Program for Tribal Nations was created to implement the consolidation component of the Cobell Settlement. $1.9 billion was allocated for the purchase of fractionated interests in trust land from willing sellers at fair market value over a ten-year period.
The DOI has fixed purchase ceilings to ensure that all eligible tribes are able to participate in in the Land Buy-Back Program. Incentives for individual owners willing to sell their fractionated portions were also announced, including minimum payments and American Indian scholarship funds.