A bill to establish the Mono Lake National Monument in the State of California, and for other purposes.

Establishes the Mono Lake National Monument in California. Authorizes the Secretary of the Interior to acquire lands and waters privately owned or owned by the State or its political subdivisions within the boundaries of the monument. Specifies acquisition procedures. Permits the transfer without consideration of Federal property located within the monument's boundaries and administered by other departments or agencies to the administrative jurisdiction of the Secretary. Requires the lands therein administered by the Bureau of Land Management to be administered by the National Park Service. Authorizes the acquisition of land outside the monument's boundaries for use as an administrative site for the monument.

Directs the Secretary to conduct with California and the city of Los Angeles a comprehensive study of programs and alternative water management policies which could be implemented by Los Angeles, the State, and other political jurisdictions to conserve water and thereby reduce the need for Mono Basin water diversions. Requires that such study take into consideration the report of the Interagency Task Force on Mono Lake (December 1979) and include public comments obtained through public hearings. Requires the Secretary to submit to specified congressional committees a report on the range and implementation of alternative actions which could reduce or eliminate Mono Basin water diversions, based on such study. Permits the State, the city of Los Angeles, and other affected entities to comment on such study.

Requires the Secretary to submit to such committees, within two fiscal years from the effective date of this Act, a comprehensive general management plan for the monument and a natural resources study report for the monument.

Authorizes appropriations.