Spokane Tribe of Indians of the Spokane Reservation Grand Coulee Dam Equitable Compensation Settlement Act

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Spokane Tribe of Indians of the Spokane Reservation Grand Coulee Dam Equitable Compensation Settlement Act - Establishes in the Treasury the Spokane Tribe of Indians Settlement Fund to compensate the Spokane Tribe of Indians of the Spokane Reservation in the state of Washington for the use of its land for the generation of hydropower by the Grand Coulee Dam.

Directs the Secretary of the Interior to: (1) make payments to the Fund in FY2008-FY2012; (2) pay compensation from the Fund to the Spokane Business Council.

Requires the use of such funds for a Cultural Resource Repository and Interpretive Center to house, preserve, and protect the burial remains and funerary and cultural resources affected by the operation of the Grand Coulee Dam and to provide a facility to promote the culture and history of the Tribe. Allocates funds to the Council for resource development programs, credit programs, scholarship programs, or reserve, investment, and economic development programs.

Directs the Administrator of the Bonneville Power Administration to make specified settlement payments to the Tribe.

Allows payments made to the Council or Tribe to be used or invested by the Council in the same manner and for the same purposes as other Spokane Tribal governmental funds.

Directs the Secretary to transfer from the Bureau of Reclamation to the Bureau of Indian Affairs administrative jurisdiction over certain land located within the exterior boundaries of the Spokane Indian Reservation established by the Executive Order of January 18, 1881. Provides that all land transferred by the Secretary shall be held in trust for the benefit and use of the Tribe and shall remain part of the Spokane Indian Reservation. Grants the United States a perpetual easement over land transferred by the Secretary to carry out the Columbia Basin Project under the Columbia Basin Project Act.

Provides that payments by the Secretary and the Administrator and restoration of ownership of land in trust constitute full satisfaction of the claim of the Tribe to a fair share of the annual hydropower revenues generated by the Grand Coulee Dam project for the past and continued use of land of the Tribe for the production of hydropower at Grand Coulee Dam.

Authorizes appropriations.

Provides that nothing in this Act establishes any precedent or is binding on the Southwestern Power Administration, Western Area Power Administration, or the Southeastern Power Administration.