Lake Tahoe Restoration Act of 2015 This bill revises and reauthorizes through FY2025 the Lake Tahoe Restoration Act. The U.S. Forest Service must conduct forest management activities in the Lake Tahoe Basin Management Unit in a manner that promotes multiple management benefits, unless the attainment of those benefits would excessively increase a project's cost. The Forest Service must also support the attainment of the Tahoe Regional Planning Compact's environmental standards for the Basin. Activities that reduce forest fuels in the Basin are categorically excluded from the requirements of the National Environmental Policy Act of 1969 (NEPA), if the activities are: (1) developed in coordination with impacted parties, and in consultation with other interested parties, and (2) consistent with the Basin's land and resource management plan. The bill establishes an arbitration process for challenges to forest management activities in the Basin. During FY2016-FY2020, the Forest Service may enter into contacts and cooperative agreements with entities for certain forest management activities on land in the Basin. The term for an agreement or contract may be more than 10 years, but no more than 20 years. The Forest Service must retain any commercial product funds generated as part of forest management activities or cooperative activities conducted in the Basin, other than stewardship contracts. The bill amends the Santini-Burton Act to authorize the conveyance of: (1) 2,168 acres of land from California to the Forest Service; and (2) 39 acres of land from the Forest Service to Nevada. The Forest Service may convey all of its urban lots within the Basin. The proceeds from conveying urban lots must be used to purchase parcels of private land that are surrounded by federal land. The Forest Service must obtain consent of affected local governments before executing land acquisition in the Basin.