North American Wetlands Conservation Act

North American Wetlands Conservation Act - Establishes a North American Wetlands Conservation Council. Sets forth elements to be considered by the Council in making recommendations to the Migratory Bird Conservation Commission for wetlands conservation projects. Requires the Council to submit annual descriptions to the Commission and the appropriate congressional committees of projects recommended for Federal funding.

Authorizes the Commission to approve or reject any project recommended by the Council. Makes Federal funding available for approved projects.

Requires the Secretary of the Interior to carry out approved projects with funding available under this Act and the Federal Aid in Wildlife Restoration Act. Requires lands, waters, or other interests acquired by the Secretary to carry out such projects to be included in the National Wildlife Refuge System, except as otherwise provided in this Act. Authorizes the Secretary to convey to States or public or other agencies any real property interests acquired with funding provided by this Act, upon a finding that such interests can be better managed if not retained in the National Wildlife Refuge System. Subjects such conveyances to conditions that will ensure that the interests will be administered for the long-term conservation of such lands and waters and the migratory birds, fish, and wildlife dependent on them.

Directs the Secretary to grant funds to public and private entities for carrying out wetlands conservation projects in Canada and Mexico. Subjects the granting of such funds to the same conditions applicable to Federal conveyances of property interests to States. Provides that property interests acquired with such funds shall not become part of the National Wildlife Refuge System.

Amends the Federal Aid in Wildlife Restoration Act to require the Secretary of the Treasury to invest in interest-bearing obligations such portion of the wildlife restoration fund not required for the current year's withdrawals. Sets forth authorized investment activities and the required use of interest held on obligations in such fund. Excludes such interest from revenues to be deducted for administrative expenses.

Authorizes additional appropriations. Allocates funds made available under this Act and the Federal Aid in Wildlife Restoration Act. Requires the average amount allocated over five years to wetlands conservation projects in Canada and Mexico to be at least 50 percent of such allocated funds. Limits the Federal contribution to 50 percent of the total project cost for projects in the United States.

Authorizes the Secretary of the Interior to: (1) make progress payments to wetlands conservation projects; and (2) enter into agreements to make payments on initial portions of such projects, subject to the availability of Federal funds.

Requires law enforcement proceeds of the U.S. Fish and Wildlife Service to be deposited in a certain fund pursuant to the Refuge Revenue Sharing Act. Exempts from such requirement: (1) amounts used for rewards and costs of temporary care under the Endangered Species Act of 1973; and (2) amounts required to be deposited into the cooperative endangered species conservation fund under such Act.

Requires the head of each Federal agency responsible for acquiring, managing, or disposing of Federal lands and waters to cooperate with the Director of the U.S. Fish and Wildlife Service to restore, protect, and enhance the wetland ecosystems and other habitats for migratory birds, fish, and wildlife within such lands and waters. Directs such agencies, when considering land disposal alternatives, to give priority to transfers of property for conservation purposes.

Requires the Secretary to report to the appropriate congressional committees on the implementation of this Act.

Requires the Secretary, in 1991 and quinquennially thereafter, to revise the North American Waterfowl Management Plan with appropriate Canadian officials. Provides that the appropriate officials in Mexico shall be invited to participate in any Plan revision.

Prohibits funds made available under this Act and the Federal Aid in Wildlife Restoration Act from being used for fish and wildlife mitigation purposes under the Fish and Wildlife Coordination Act or the Water Resources Development Act of 1986.

Amends the Migratory Bird Conservation Act to provide that the Administrator of the Environmental Protection Agency (in lieu of the Secretary of Transportation) shall be a member of the Commission.

Provides that only personnel and administrative costs directly related to acquisition of real property shall be levied against the Migratory Bird Conservation Account.

Requires the Secretary to undertake to establish migratory bird protection agreements with appropriate Western Hemisphere nations.

Amends the Fish and Wildlife Conservation Act to require the Secretary to identify lands and waters in the United States and other Western Hemisphere nations whose protection, management, or acquisition will foster the conservation of migratory nongame birds.