Missouri River Basin, Middle Loup Division Project Facilities Conveyance Act

Missouri River Basin, Middle Loup Division Project Facilities Conveyance Act - Authorizes the Secretary of the Interior to convey the Farwell and Sargent Irrigation Projects, Nebraska, to: (1) the Farwell Irrigation District, the Sargent Irrigation District, and the Loup Basin Reclamation District; (2) a combination of such districts; or (3) an organization established by one or more of such districts as an interlocal cooperation agency. Includes certain related property and facilities as part of such conveyance. Requires: (1) certain environmental compliance prior to such conveyance; (2) specified payment by project beneficiaries and power producers as satisfaction for outstanding obligations; and (3) current irrigation and related project purposes to be continued after such conveyance.

Provides for payment by the United States for required drainage work on the conveyed facilities, such payment to be 100 percent of such costs for FY 2000, but reduced by five percent for each fiscal year thereafter to zero percent for FY 2020 and thereafter.

Allows project facilities to be used for fish, wildlife, and recreation uses, as long as such uses are compatible with the primary project purposes.

Requires project beneficiaries, as a condition to such conveyance, to establish the Nebraska-Middle Loup River Community Environmental Trust Fund to preserve, protect, enhance, and manage project property in a manner necessary to achieve project purposes. Prohibits such Fund from being used for routine maintenance and operation costs.

Directs the Secretary to complete all investigation and preservation activities required under the National Historic Preservation Act at archaeological sites on project property.

Modifies project purposes to exclude flood control.