A bill to provide for a study by the National Park Service of the Smith River region in Northern California and Southern Oregon.

Directs the Secretary of the Interior, acting through the Director of the National Park Service, to study and report to the Congress on national forest lands within the Smith River watershed region in Northern California and Southern Oregon and to recommend the means of permanent Federal protection for such resources. Requires that the study include a cost-benefits analysis of protecting such resources and enhancing the region's recreational potential. Prohibits timber sales on such lands until the Congress has had a fixed period in which to examine the study. Requires the Secretary of the Interior to compensate counties for lost timber sales during that period, subject to adjustment if the interim protection is extended.