Fremont-Madison Conveyance Act

Fremont-Madison Conveyance Act - Directs the Secretary of the Interior to: (1) convey to the Fremont-Madison Irrigation District in Idaho, pursuant to a specified Memorandum of Agreement (MOA) between the District and the Secretary, the canals, lateral, drains, and other components of the water distribution and drainage system operated or maintained by the District; and (2) condition such conveyance on the District paying the administrative costs of the conveyance and related activities and the lesser of the net present value of the remaining obligations owed to the United States for the facilities conveyed or $280,000.

Requires the Secretary, in conveying the Teton Exchange Wells, to also convey to the District Idaho Department of Water Resources permit number 22-7022, including drilled wells under such permit and all appurtenant equipment.

Extends a specified water service contract between the Secretary and the District until all conditions described in this Act are fulfilled.

Requires the Secretary, prior to conveyance, to complete all environmental reviews and analyses as set forth in the MOA.

Increases the acreage within the District eligible to receive water from the Minidoka and Teton Basin Projects to reflect the number of acres within the District.

Requires the Secretary: (1) in collaboration with stakeholders in the Henry's Fork watershed, to initiate a drought management planning process to address all water uses in the watershed; and (2) report a final plan to Congress.