Swanson and Hugh Butler Reservoirs Land Conveyances Act This bill provides for the conveyance of certain federal lands located at the Swanson Reservoir and Hugh Butler Reservoir in Nebraska to Hitchcock County and Frontier County, respectively. The counties must manage the land for substantially the same purposes for which they are being used or for (1) certain public recreation purposes, (2) public access, (3) fish and wildlife habitat, or (4) the preservation of the natural character of the land. Within three years, the Bureau of Reclamation must enter into negotiations to transfer (1) the Swanson Permitted Cabin Land, the Swanson Permitted Concession Land, and the Lakeview Lodge Permitted Concession Land to Hitchcock County; and (2) the Red Willow Permitted Cabin Land and the Red Willow Permitted Concession Land to Frontier County. Reclamation must offer to convey the land as soon as practicable after the title transfer agreement is made. The land must be conveyed in whole and not subdivided. Additionally, the bill subjects the conveyances to certain existing rights and requirements. Further, the bill limits future conveyances of the land. Reclamation must enter into a memorandum of agreement with each county to establish and define the roles and responsibilities for actions required to convey the land. The counties must provide compensation to the Reclamation Fund in an amount equal to the fair market value of the land. The counties must also pay the conveyance costs in advance of the conveyance.