This bill amends Public Law 96-586, commonly known as the Santini-Burton Act, to modernize the Forest Service's authority for land acquisition and administration in the Lake Tahoe Basin. A key finding added to the Act acknowledges the Lake Tahoe Basin as the homeland of the Washoe Tribe of Nevada and California, noting their limited land ownership and the resulting challenges to cultural access. The bill explicitly expands the Act's purpose to include both land acquisition and comprehensive land management within the basin. The legislation integrates the Washoe Tribe of Nevada and California into the land management framework, allowing them to receive transfers of land unsuitable for the National Forest System and funds for administrative costs associated with such transfers. It authorizes the Secretary of Agriculture to utilize funds, originally appropriated for land acquisition, for a broad range of land management activities on acquired lands and National Forest System lands within the Lake Tahoe Basin Management Unit. These activities encompass maintaining forest health, water quality, mitigating recreational impacts, and preserving cultural sites and indigenous management practices. Furthermore, the bill permits the transfer of funds to State or local governments and the Washoe Tribe for land management on transferred lands. It also encourages partnerships with various entities, including Federal agencies, State and local governments, the Tahoe Regional Planning Agency, and the Washoe Tribe, to implement land management activities and provide public access, particularly to lands of cultural significance to the Tribe. An annual spending plan, developed in consultation with key stakeholders, is mandated to prioritize these management activities based on environmental thresholds and other criteria, ensuring funds are supplemental and can be considered non-Federal matching funds when transferred.