Northern Cheyenne Lands Act - Directs the Secretary of the Interior to take approximately 1,568 acres of land in Montana into trust for the Northern Cheyenne Tribe.

Requires Great Northern Properties to convey to the Tribe its coal and iron ore mineral interests underlying the land on the Northern Cheyenne Reservation in exchange for U.S. coal mineral interests underlying the land referred to as Bull Mountains and East Fork. Sets forth conditions on the conveyance to Great Northern Properties.

Directs the Secretary to ensure that the deed for those federal coal mineral interests includes a covenant that precludes surface mining of the coal unless certain conditions are met.

Prohibits Montana from taxing the mineral interests this Act conveys to the Tribe.

Sets forth conditions regarding waiver of claims by the Tribe and Great Northern Properties.

Requires the Northern Cheyenne Trust Fund to be transferred to the Tribe in exchange for the Tribe waiving all of its claims arising from U.S. management of the Fund.

Northern Cheyenne Lands Act - Directs the Secretary of the Interior to take approximately 1,568 acres of land in Montana depicted on two specified maps into trust for the Northern Cheyenne Tribe.

Requires, after the Secretary receives notice from the Tribe that it has a revenue sharing agreement with Great Northern Properties regarding future development of the Northern Cheyenne Federal Tracts:

• Great Northern Properties to convey to the Tribe its coal and iron ore mineral interests underlying the land on the Northern Cheyenne Reservation generally depicted on the map entitled "Northern Cheyenne Land Act: Coal Tracts" and dated February 27, 2014, and
• the Secretary to convey to Great Northern Properties all of the United States' coal mineral interests underlying the land generally depicted as "Bull Mountains" and "East Fork" on the map entitled "Northern Cheyenne Federal Tracts" and dated February 27, 2014.

Directs the Secretary to ensure that the deed for those federal coal mineral interests includes a covenant, running with the land, that precludes surface mining of the coal absent the written consent of the surface owner.

Requires the coal and iron ore mineral interests conveyed to the Tribe under this Act to be held, upon the Tribe's request, in trust for the Tribe.

Prohibits Montana from taxing the mineral interests this Act conveys to the Tribe.

Requires that, in return for this Act's mineral conveyances:

• the Tribe must waive all of its claims arising from the continuing failure of the United States to acquire those private coal and iron ore mineral interests in trust for the Tribe as part of its Reservation as directed by Congress in 1900, and
• Great Northern Properties must waive any claim against the United States relating to the value or completion of this Act's conveyances of mineral interests.

Requires the Northern Cheyenne Trust Fund (Fund) to be transferred to the Tribe and deposited into the Tribe's Permanent Fund. Requires the Tribe, in return for such transfer, to waive all of its claims arising from U.S. management of the Fund.