Authorizes and funds a negotiated settlement that resolves the Pueblo of Ohkay Owingeh’s Rio Chama water-rights claims by creating a federal trust for Pueblo water rights and establishing a $745,000,000 (adjustable) trust fund plus State contributions to implement agreed projects. The Act ratifies and directs federal implementation of a multi-party Agreement, protects Pueblo water rights from forfeiture, sets rules for leasing and use, requires waivers/releases of many past claims in exchange for the settlement, and conditions enforceability on a set of procedural steps including court approval, deposit of funds, State law changes, and executed releases.