Reclamation Excess Lands Act

Reclamation Excess Lands Act - Authorizes the Secretary of the Interior to purchase lands which are located within an irrigation district and are owned by persons owning more than 160 acres of irrigable land within such district, for the purpose of selling such lands to individuals who are or will be eligible to receive project water upon the land and who will actively operate the land as a family farm.

Establishes the Reclamation Excess Purchase and Resale Fund as a source of moneys for such purchases. Authorizes the appropriation of $10,000,000 to such fund.

Directs the Secretary to issue regulations prescribing conditions to be incorporated in land sales under this Act, including conditions designed to prevent unreasonable gains as a result of the resale of lands by purchasers from the Secretary.

Directs owners of more than 160 acres of irrigable land who are required to sell their excess lands under specified law to grant priority to prospective purchasers who will operate such excess land as a family farm.

Authorizes loans to be made or insured pursuant to the Consolidated Farm and Rural Development Act to assist individuals in acquiring excess irrigable lands for use as family farms. Sets monetary limits on such loans.

Limits real estate loans under such Act to individuals who will engage in the actual farming of, as distinguished from mere supervision over, lands obtained for a family farm.