Reclamation Lands Opportunity Act

Reclamation Lands Opportunity Act - Title I: Findings, Purposes, Definitions - States the purpose of this Act and defines terms used herein.

Title II: Acreage Limitations and Equivalency - Authorizes the Secretary of the Interior, for purposes of administering the reclamation laws, to change the 160 acre limitation to 640 acres of class one land or its equivalent in lands of lesser productivity, provided that in no case such acreage exceeds 960.

Title III: Excess Lands and Irrigation Rights - States that one year after the date of enactment of this Act water from any reclamation projects may only be delivered to project lands which comprise a family farm or which fall under specified categories, including former family farmers who lease project land through the lottery system.

Provides for the disposition of excess reclamation project lands through a lottery system conducted by the Secretary of the Interior.

Title IV: Repayment of Project Costs - Directs the Secretary of the Interior to stipulate in any water right contract that all rates and assessments to be paid by the contracting entity or individual landowners shall be renegotiated every five years.

Title V: Leasing of Certain Lands - Authorizes the Secretary to purchase excess lands to be leased to those family farmers unable to purchase lands in reclamation projects and to lease agricultural excess land owned by the Navy at Lemoore Naval Air Station to family farmers.

Prohibits foreign individuals or entities from holding any interest to any part of lands serviced by Federal water.

Title VI: Miscellaneous - Adds miscellaneous provisions to this Act including a requirement that explanations of the programs of this Act be freely available to the public.