A bill to reduce speculation in excess lands purchased under the Federal reclamation laws by imposing additional restrictions on sales and resales of such excess lands originally sold to qualify for water rights under such laws.

(Reported to House from the Committee on Interior and Insular Affairs with amendment, H. Rept. 95-909)

Amends the Omnibus Adjustment Act of 1926 to prohibit the delivery of Federal irrigation water to land initially sold as excess land for a period of 15 years unless: (1) the purchase price involved in the initial sale or subsequent resale of such excess lands is approved by the Secretary of the Interior; (2) the requirements of the Omnibus Adjustment Act with respect to contracts are set forth in the sales documents; (3) the sale of excess lands meet the requirements of the Federal reclamation laws and regulations the Secretary adopts to implement these laws; and (4) the sales documents are recorded in the records of the county in which the lands are located.

Authorizes the Secretary to cancel the water right attaching to any land upon proof of fradulent representation as to the true consideration involved in any sale of such lands.