To direct the Secretary of Commerce to provide emergency disaster assistance to mitigate the economic losses caused by declining Klamath River salmon and to develop and implement a research and recovery plan for Klamath River salmon, and for other purposes.

Requires the Secretary of Commerce to develop and implement a coordinated research and recovery program for Klamath River Fall Chinook salmon and Klamath River Fall Coho salmon. Provides emergency disaster assistance to fishing communities, Indian tribes, businesses, holders of community development quotas, individuals, and other entities to mitigate economic losses caused by declining Klamath River Fall Chinook salmon.

Excludes, for purposes of income taxation, such assistance from the gross income of an individual or entity.