A bill to authorize the Secretary of the Interior to make compensation for damage arising out of the failure of the Teton Dam a feature of the Teton Basin Federal Reclamation Project in Idaho.

Entitles all persons sustaining damage as a result of the collapse of the Teton Dam on the Teton River, Idaho, to receive full compensation from the United States as determined by the Secretary of the Interior or his designee in accordance with the laws of the State of Idaho.

Stipulates that acceptance of any award made under this Act shall constitute a complete release of all claims of the claimant arising from the dam collapse.

Directs the Secretary to enter into agreements with the owner of irrigation facilities damaged by the dam collapse to finance the repair or reconstruction of such facilities.

Permits claimants aggrieved by a decision by the Secretary under this Act to appeal the decision to the United States District Court for the District of Idaho.