Amends the Wild and Scenic Rivers Act to designate a specified segment of the Merced River, California, as a component of the National Wild and Scenic Rivers System.
Requires the Secretary of the Interior to permit the construction and operation of pumping facilities at the Saxon Creek Project. Withdraws certain segments of such river and the South Fork Merced River from appropriation under the mining laws.
Designates the North Fork of the Merced River for study for potential addition to the System.
Prohibits designation of the Merced River as a component of the System from affecting the continued operation and maintenance of the New Exchequer Project as licensed by the Federal Energy Regulatory Commission (including flood control operations) or the Commission's authority to relicense such project within the project boundaries set forth in the license on the date of enactment of this Act. Restricts the normal maximum operating pool water surface level, if the project is relicensed.