A bill to provide temporary authorities to the Secretary of the Interior to facilitate emergency actions to mitigate the impacts of the 1976-77 drought, and to provide for emergency drought assistance loans.

Directs the Secretary of the Interior, acting through the Bureau of Reclamation, to implement a program of interest-free emergency drought assistance loans to irrigators in order to mitigate losses and damages resulting from the 1976-77 drought period.

Stipulates that actions taken pursuant to this Act shall not be deemed major Federal actions significantly affecting the quality of the human environment for purposes of the National Environmental Policy Act of 1969.

Authorizes the appropriation of $200,000,000 in emergency funds in fiscal year 1977 to carry out the purposes of this Act.