Collbran Project Unit Conveyance Act

Collbran Project Unit Conveyance Act - Directs the Secretary of the Interior, within one year after enactment of this Act, to convey to the Ute Water Conservancy District and the Collbran Conservancy District all U.S. rights and interests in the Collbran Reclamation Project. Provides for: (1) the granting of easements to the Districts for National Forest System lands and the Southside Canal; (2) payment to the United States by the Districts for the Project; (3) the deposit and authorized uses of such payments; (4) Project operation and use by the Districts for 40 years; (5) a required annual plan from the Districts for such operation; and (6) conveyance subject to specified agreements between the United States and Colorado relating to the construction and operation of recreational facilities at Vega Reservoir.

Requires the Project's power component and facilities to be operated in substantial conformity with its past operation. Provides for Project power marketing under existing agreements. Requires the Districts, after the expiration of such agreements, to provide all Project power produced to the Western Area Power Administration at a specified rate. Grants a 40-year license to the Districts for Project operation.

States that any dam licensed or constructed under the Project shall not be considered a Government dam for purposes of the Federal Power Act.

Makes the "major Federal action" provisions of the National Environmental Policy Act of 1969 inapplicable to such conveyance. Terminates certain previous agreements upon such conveyance.

Makes the Districts liable for all acts or omissions relating to the operation and use of the Project subsequent to the conveyance.