Walker River Basin Act of 1997

Walker River Basin Act of 1997 - Directs the Secretary of the Interior, specified locally affected interests, and the State of California to initiate negotiations for the comprehensive and permanent settlement of all claims to waters of the Walker River in California and Nevada. Requires the Secretary to report to the Congress on any legislation required under the terms of such settlement.

Directs the Secretary to assist in the development and implementation of studies, pilot projects, or long-term projects necessary in the negotiation of such settlement. Makes the Federal share 75 percent of the total cost of any such study or project, with the remaining amounts allocated among the locally affected interests, California, and Nevada. Authorizes appropriations.

Provides for the protection and administration of U.S. water rights in Walker River water.

Provides a moratorium against any other claims concerning Walker River water for one year after the enactment of this Act and during the period of any required study or project.

Prohibits: (1) information derived from a study or project from being used for purposes other than the negotiation of a settlement; and (2) the Secretary from undermining, contradicting, or diminishing the water rights confirmed under the Walker River Decree (a decree issued by the U.S. District Court for the District of Nevada).