Hoopa-Yurok Settlement Act - Provides for the partition of the joint Hoopa Valley and Yurok Reservation. Requires the Hoopa Valley Tribe to waive all claims against the United States before the partition shall become effective.

Establishes the Hoopa Valley Reservation and the Yurok Reservation. Requires the unallotted trust lands and assets of each tribe to be held in trust by the United States for the benefit of the respective tribes.

Places all national forest lands within the Yurok Reservation in trust for the use and benefit of the Yurok Tribe, subject to valid existing rights and subject to the adoption of a resolution of the Interim Council of the Yurok Tribe.

Sets the boundary between the Hoopa Valley and Yurok Reservations.

Directs the Secretary of the Interior to manage the unallotted trust land and assets of the Yurok Reservation until the tribe has organized. Requires, thereafter, that such land and assets be administered as tribal trust land and governed by the tribe.

Authorizes the Secretary to acquire lands or interests in lands, including rights-of-way for access to trust lands in the Reservation.

Establishes the Hoopa-Yurok Settlement Fund for distributions pursuant to this Act. Divides fund assets between the tribes based on settlement roll calculations. Authorizes appropriations to the Fund. Prescribes preparation and eligibility criteria for the Hoopa-Yurok settlement roll. Allows an election among the following settlement options: (1) Hoopa tribal membership option (based on the criteria of the court decision in the Short case); (2) Yurok tribal membership option; and (3) lump sum payment option. Extinguishes interest in tribal property of persons receiving payments. Provides for division of the remaining settlement funds.

Ratifies the existing documents of the Hoopa Valley Tribe and confirms its status.

Provides for recognition and organization of the Yurok Tribe. Establishes an Interim Council of the Yurok Tribe preceding election and installation of the tribal governing body.

Allows the land assignment on the Hoopa Valley Reservation made to the Smokers family to continue to relatives of one-fourth or more Indian blood.

Provides for a merger of the Rancherias with the Yurok Tribe if certain conditions are met.

Adds representatives of the Yurok Tribe and the Karuk Tribe to the Klamath River Basin Fisheries Task Force. Specifies the term of office.

Provides that the proceeds of the sale of timber from Indian trust lands, after deduction for administrative expenses, shall be used: (1) as determined by the governing bodies of the tribes concerned and approved by the Secretary; or (2) in the absence of such a governing body, as determined by the Secretary for the tribe concerned.

Sets limitations on actions challenging the joint reservation partition under this Act. Requires the Secretary to submit to the Congress a report describing any claims decisions.

Establishes the Hoopa Valley and Yurok Reservation. Requires the unallotted trust land and assets of each tribe to continue to be held in trust by the United States for the benefit of the respective tribes.

Places all national forest lands within the Yurok Reservation in trust for the use and benefit of the Yurok Tribe, subject to valid existing rights. Requires such lands to be transferred from the Secretary of Agriculture to the Secretary of the Interior (Secretary).

Directs the Secretary to purchase land along the Klamath River, California, to be added to the reservation of the Yurok Tribe. Authorizes appropriations.

Sets the boundary between the Hoopa Valley and Yurok Reservations.

Directs the Secretary to manage the unallotted trust land and assets of the Yurok Tribe and govern the Yurok Reservation until the tribe has organized. Requires, thereafter, that such land and assets be administered as tribal trust land and governed by the tribe.

Authorizes the Secretary to make or approve the exchange of trust land in the Yurok Reservation for an interest in land in or near the reservation and to acquire an interest in land for a right-of-way needed for access to trust land in the Reservation.

Sets a two-year statute of limitations for damages based on inadequate compensation or a taking resulting from the division of land under this Act. Provides for the reimbursement of the United States from the future income of either the Hoopa Valley Tribe or the Yurok Tribe if the Government is found liable for damages from its division of land between the tribes.

Directs that, for the purpose of providing for partial judgments, certain cases may be treated as subject to the Contract Disputes Act of 1978. Provides for the distribution of escrow funds.

Provides for the organization of the Yurok Tribe.

Allows the land assignment on the Hoopa Valley Reservation made to the Smokers family to continue for the lives of family members resident on such land on January 1, 1987.

Provides for a merger of the Resighini Rancheria with the Yurok Tribe if certain conditions are met.

Directs the Secretary of Health and Human Services to: (1) clean up all dump sites located on the Yurok Reservation on the date of enactment of this Act, with first priority given to those along the Klamath River; (2) seek to enter into a memorandum of understanding with Humboldt and del Norte Counties, California, regarding the disposal of solid waste from the Yurok Reservation pending the organization of the Yurok Tribe; and (3) enter into a memorandum of understanding with the Hoopa Valley Tribe to ensure the continued health care for non-Hoopa Indians living on the Hoopa Reservation.

Treats moneys recovered from specified actions against the United States as tax-exempt and prohibits their availability for use as the basis for denying or reducing financial assistance or other benefits under any Federal or federally assisted program.

Adds a representative of the Yurok Tribe to the Klamath River Basin Fisheries Task Force. Specifies the term of office of such representative.

Provides that the proceeds of the sale of timber from Indian trust lands, after deduction for administrative expenses, shall be used: (1) as determined by the governing bodies of the tribes or reservations concerned and approved by the Secretary; or (2) in the absence of such a governing body, as determined by the Secretary for the tribe concerned.