Provides that: (1) this Act does not authorize the Tribes to use or authorize others to use tribal water rights off the Reservation other than for storage at Wild Horse Reservoir or on tribal land off the Reservation; (2) execution of such Agreement shall not constitute major federal action under the National Environmental Policy Act; and (3) this Act does not affect the status of the Duck Valley Indian Irrigation Project under law.

Requires tribal water rights to be held in trust by the United States for the Tribes' benefit. Directs the Tribes to enact a water code to administer such rights.

Establishes the Shoneshone-Paiute Tribes Water Rights Development Fund and the Shoshone-Paiute Tribes Operation and Maintenance Fund. Requires the Secretary to manage the Funds and to enforce tribal expenditure plans.

Authorizes the waiver or release of the Tribes' water rights, and claims to such rights or for damages to such rights, in the East Fork of the Owyhee River.

Provides that: (1) this Act does not authorize the Tribes to use or authorize others to use tribal water rights off the Reservation other than for storage at Wild Horse Reservoir for use on tribal land and for the allocation of 265 acre feet to upstream water users under such Agreement, or use on tribal land off the Reservation; (2) execution of such Agreement shall not constitute major federal action under the National Environmental Policy Act; and (3) this Act does not affect the status of the Duck Valley Indian Irrigation Project.

(Sec. 6) Requires tribal water rights to be held in trust by the United States for the Tribes' benefit. Directs the Tribes to enact a water code to administer such rights. Requires the Secretary to regulate such rights until the Tribes enact a water code. Provides that: (1) such rights are not subject to loss by abandonment, forfeiture, or nonuse; and (2) capital costs associated with the Project are nonreimbursable.

(Sec. 8) Establishes the Shoneshone-Paiute Tribes Water Rights Development Fund for: (1) the rehabilitation and expansion of the Project; (2) acquisition of land and water rights; (3) restoring or improving fish or wildlife habitat; (4) fish or wildlife protection, water resource development, or agricultural development; (5) water resource planning and development; (6) designing and constructing water supply and sewer systems for tribal communities; (7) water-related projects and other related economic development projects; (8) developing water codes; or (9) the costs of implementing the Agreement.

Establishes the Shoshone-Paiute Tribes Operation and Maintenance Fund to pay or provide reimbursement for the operation, maintenance, and replacement costs of: (1) the Project and other water-related projects funded under this Act; or (2) water supply and sewer systems for tribal communities.

Authorizes appropriations for such Funds for FY2008-FY2012. Requires the Secretary to manage the Funds in accordance with the American Indian Trust Fund Management Reform Act of 1994. Provides for withdrawing and spending amounts from the Funds, enforcing tribal management plans and expenditure plans, and reporting on the expenditures from the Funds. Prohibits amounts from the Funds from being distributed to Tribal members on a per capita basis.

(Sec. 9) Authorizes the waiver or release by Tribes and the United States of claims for water rights in or waters of the East Fork of the Owyhee River, and for damages, losses, or injuries to such rights, that could be asserted in court proceedings. Authorizes Tribes to waive and release claims against the United States: (1) for fishing rights that resulted from reduced quantity of water in the East Fork; or (2) that arise out of the negotiation and adoption of the Agreement.

Requires Tribes and the United States to retain: (1) claims for enforcement of the Agreement, the Final Consent Decree, or this Act; (2) rights to use and protect water rights acquired pursuant to any state law; (3) claims relating to activities affecting the quality of water; (4) rights to land outside the Reservation; and (5) rights, remedies, privileges, immunities, and powers not specifically waived and released under the terms of the Agreement.

Provides that the waivers and release of claims become effective when the Secretary publishes a finding that: (1) the Secretary has executed the Agreement as approved by Congress; (2) all parties to the Agreement have executed the Agreement; (3) the Fourth Judicial District Court, Elko County, Nevada, has issued a judgment and decree consistent with the Agreement from which no further appeal can be taken; and (4) specified amounts have been appropriated. Declares that the Agreement and this Act will not take effect and any funds and interest accrued that have been appropriated under this Act shall revert to the general fund of the Treasury if the Secretary does not publish such statement by December 31, 2015. Provides for the tolling of claims.

(Sec. 10) Gives U.S. consent to jurisdiction in a proper forum for purposes of enforcing the Agreement's provisions.

Provides that: (1) this Act does not authorize the Tribes to use or authorize others to use tribal water rights off the Reservation other than for storage at Wild Horse Reservoir for use on tribal land and for the allocation of 265 acre feet to upstream water users under such Agreement, or use on tribal land off the Reservation; (2) execution of such Agreement shall not constitute major federal action under the National Environmental Policy Act; and (3) this Act does not affect the status of the Duck Valley Indian Irrigation Project.

(Sec. 6) Requires tribal water rights to be held in trust by the United States for the Tribes' benefit. Directs the Tribes to enact a water code to administer such rights. Requires the Secretary to regulate such rights until the Tribes enact a water code. Provides that: (1) such rights are not subject to loss by abandonment, forfeiture, or nonuse; and (2) capital costs associated with the Project are nonreimbursable.

(Sec. 8) Establishes the Shoneshone-Paiute Tribes Water Rights Development Fund for: (1) the rehabilitation or expansion of the Project; (2) acquisition of land and water rights; (3) cultural preservation; (4) restoring or improving fish or wildlife habitat; (5) fish or wildlife protection, water resource development, or agricultural development; (6) water resource planning and development; (7) designing and constructing water supply and sewer systems for tribal communities; (8) water-related projects and other related economic development projects; (9) developing water codes; or (10) the costs of implementing the Agreement.

Establishes the Shoshone-Paiute Tribes Operation and Maintenance Fund to pay or provide reimbursement for the operation, maintenance, and replacement costs of: (1) the Project and other water-related projects funded under this Act; or (2) water supply and sewer systems for tribal communities.

Authorizes appropriations for such Funds for FY2008-FY2013. Requires the Secretary to manage the Funds in accordance with the American Indian Trust Fund Management Reform Act of 1994. Provides for withdrawing and spending amounts from the Funds, enforcing tribal management plans and expenditure plans, and reporting on the expenditures from the Funds. Prohibits amounts from the Funds from being distributed to Tribal members on a per capita basis.

(Sec. 9) Authorizes the waiver or release by Tribes and the United States of the Tribes' water rights in the East Fork of the Owyhee River in Nevada, and claims to such rights that could be asserted in court proceedings or claims for damages, losses, or injuries to such rights, or claims of interference with, diversion or taking of water rights within the State of Nevada. Authorizes Tribes to waive and release claims against the United States: (1) for water rights in the East Fork of the Owyhee River or the Snake River Basin Adjudication in Idaho; (2) for damages, losses, or injuries to water, such rights, land, or other resources due to loss of water or water rights within Nevada and Idaho; (3) that relate to the operation maintenance, or rehabilitation of the Project; (4) that relate to the litigation of claims concerning the Tribes' water rights in pending proceedings before the Nevada State Engineer to determine the the water rights of the Tribes in the East Fork of the Owyhee River in Nevada or the Snake River Basin Adjudication in Idaho; or (5) that relate to the negotiation, execution, or adoption of the Agreement.

Requires Tribes and the United States to retain: (1) claims for enforcement of the Agreement, the Final Consent Decree, or this Act; (2) rights to acquire a water right in a state to the same extent as other entities in the state and to use and protect water rights acquired; (3) claims relating to activities affecting the quality of water; and (4) rights, remedies, privileges, immunities, and powers not specifically waived and released under the terms of this Act.

Provides that the waivers and release of claims become effective when the Secretary publishes a finding that: (1) the Agreement and the waivers and releases authorized have been executed by the parties and the Secretary; (2) the Fourth Judicial District Court, Elko County, Nevada, has issued a judgment and decree consistent with the Agreement from which no further appeal can be taken; and (3) specified amounts have been appropriated. Declares that the Agreement and this Act will not take effect and any funds and interest accrued that have been appropriated under this Act shall revert to the general fund of the Treasury if the Secretary does not publish such statement by March 31, 2016. Provides for the tolling of claims.

(Sec. 10) Gives U.S. consent to jurisdiction in a proper forum for purposes of enforcing the Agreement's provisions.