State Wild and Scenic Rivers Planning and Preservation Act

State Wild and Scenic Rivers Planning and Preservation Act - Directs the Secretary of the Interior to make grants to States for: (1) the establishment and administration of State and local programs to protect and preserve the scenic, recreational, geologic, fish and wildlife, historical, or ecological values of rivers within the State concerned; or (2) protection and preservation by the State of any lands which are within, border, or directly affect, any component of the national wild and scenic rivers system established under the Wild and Scenic Rivers Act or which border or directly affect any river segment authorized for study under such Act.

Prohibits any part of such grant from being used for the acquisition of any land or interest in land. Limits such grants to 80 percent of the costs of any such program. Requires the remaining share of such costs to be paid by a State or local government or combination thereof.

Authorizes the Secretary to make grants to State and local governments for the acquisition of lands and interests in land which are subject to State and local programs to protect and preserve rivers within the State concerned. Limits such grants to no more than 80 percent of the costs of any land or interest acquired with assistance under this Act.

Authorizes the Secretary to make loans or to guarantee loans made to approved State, local, and private nonprofit organizations for the acquisition of land and interests in land within: (1) areas which are designated for protection under, or listed for study under, the national wild and scenic rivers system; (2) areas associated with rivers listed on the National Rivers Inventory; or (3) areas subject to State and local programs to protect and preserve rivers where the Secretary of the Interior determines that such areas have outstanding recreational, historical, ecological, scientific, scenic, or natural values.

Prohibits such loans or guarantees from exceeding 90 percent of the aggregate cost to the loan recipient, excluding all other Federal aid, of the acquisition for which such loan is made.

Allows the Secretary, upon application of the obligor and upon a finding of need for short-term financial support for the project, to postpone for a specified period the due date of any payment of principal and interest on such loan.

Requires any person who receives a loan or guarantee under this Act to enter into a legally enforceable agreement with the Secretary respecting the use and disposition of the land or interest concerned.

Requires the Secretary to consult with the Secretary of the Treasury regarding the interest rate, timing, and other terms and conditions of such loans and guaranteed obligations.

Authorizes the Secretary of the Treasury to purchase loans and loan guarantees made under this Act through the Federal Financing Bank. Stipulates that this may be done only if the Secretary of the Interior determines that an adequate secondary market for such obligations is not available in the private sector.

Requires all departments, agencies, and instrumentalities of the United States to cooperate with the Secretary and with State and local governments in approving or carrying out projects, activities, or other undertakings which affect: (1) any river with respect to which assistance is provided under this Act, or which is included in any State or local protection or preservation system; and (2) any river designated for protection, or for potential inclusion in, the wild and scenic rivers system, or which is listed on the National Rivers Inventory.

Amends the Wild and Scenic Rivers Act to direct the Secretary of the Interior to promulgate such guidelines as necessary to carry out purposes of such Act with respect to: (1) the adequacy of State plans for the administration of rivers included within the national wild and scenic rivers system; and (2) assistance provided under the State River Planning and Preservation Act in the case of rivers which are not included in such system.

Restricts the licensing of specified water resources projects by the Federal Energy Regulatory Commission (formerly the Federal Power Commission) on or directly affecting any river which is designated as a component of the national wild and scenic rivers system and has been approved for inclusion by any State legislature. Prohibits any department or agency of the United States from assisting by loan, grant, license, or otherwise in the construction of any water resources project that would have a direct and adverse effect on the values of such a river as determined by the Secretary of the Interior.

Prohibits the Commission from licensing or granting any permit (including a preliminary permit) with respect to construction projects on rivers designated for potential additions to the wild and scenic rivers system.

Directs the Commission and all other Federal agencies, upon inclusion of a river in the wild and scenic rivers system or upon application for inclusion of any river by a State legislature, to inform the Secretary of the Interior and, where national forest lands are involved, the Secretary of Agriculture, of any activities in progress affecting such river.

Withdraws all public lands within the authorized boundaries of any component of the national wild and scenic rivers system which is designated by State legislation from entry, sale, or other disposition under public land laws.

Authorizes the Secretary of the Interior and the Secretary of Agriculture to acquire lands and interests in land within the authorized boundaries of any component of the national wild scenic rivers system and owned by a State by donation or exchange.

Authorizes the Secretary of the Interior to sell federally owned land (or any interest therein) which is within the boundaries of any component of the National Wild and Scenic Rivers System and which has been acquired by the Secretary.

Directs the Secretary of the Interior or the Secretary of Agriculture, as the case may be, upon the request of specified congressional committees, to study any river named in such request to determine whether or not such river is qualified for inclusion in the national wild and scenic river system and to determine appropriate management alternatives.

Directs the Secretary of the Interior to undertake a study to determine what action should be taken by Federal, State, and local governmental authorities to insure reasonable rights of public access for recreational purposes to the Nation's rivers, streams, and other waterways.