Lower Yellowstone Reclamation Projects Conveyance Act

Lower Yellowstone Reclamation Projects Conveyance Act - Directs the Secretary of the Interior to convey the works, facilities, and lands of the Lower Yellowstone Irrigation Project, the Intake Project in Montana, and the Savage Unit of the Pick-Sloan Missouri Basin Program to the Lower Yellowstone Irrigation Districts No. 1 (Montana) and No. 2 (North Dakota), the Intake Irrigation District (Montana), and the Savage Irrigation District (Montana), respectively, pursuant to the terms of the Memorandum of Understanding of November 16, 1999, between the Districts and the Bureau of Reclamation. Requires: (1) all conveyances under this Act, except the Diversion Works (land and the diversion dam structure, canal headworks, and first section of the mail canal) to be conveyed in the first stage; and (2) the Diversion Works to be conveyed in the second stage..

Requires the Districts to buy Reclamation withdrawn lands as identified in the Memorandum for their value in providing operation and maintenance benefits.

Conditions the conveyance on the Secretary requiring payment of: (1) an amount equal to the present value of the remaining water supply repayment obligation from the Savage Irrigation District as full payment of such District's share of the construction of the Savage Unit; and (2) a specified amount from the Pick Sloan Missouri Basin Program (Eastern Division) power customers as full payment for the construction aid-to-irrigation associated with Unit facilities.

Conditions the conveyance on the Lower Yellowstone Irrigation Districts conveying a perpetual conservation easement to the State of Montana for the purposes of protecting, preserving, and enhancing the conservation values and permitting recreation on Federal lands to be conveyed under this Act. Sets forth requirements regarding: (1) continuation of Pick-Sloan Program irrigation components and pumping power service; and (2) Yellowstone River fisheries protection.