A bill to provide for the settlement of certain questions concerning the ownership of certain land within, or adjoining, the present and former beds of the Colorado River, and for other purposes.

Directs the Secretary of the Interior to investigate and make preliminary claims of ownership to lands adjoining the current and historic beds of the Colorado River in California and Arizona which are determined to be wholly or partially owned by the United States or held in trust for the benefit of an Indian tribe. Requires the Secretary to negotiate and expeditiously settle such claims through agreements fixing the Federal boundaries and/or the consummation of land exchanges.