Expediting Funding For Efficient Contracting Tribes Act or the EFFECT Act This bill amends the Indian Self-Determination and Education Assistance Act to permit an Indian tribe to submit a request for expedited review of the tribe's proposed annual funding agreement to the Committee on Indian Affairs of the Senate and the Committee on Natural Resources of the House of Representatives. If the committees assent to the request, the Department of the Interior must waive part or all of the review period for the agreement and set or amend the effective date of the agreement, as specified by the committees.