Species Rescue Act - Amends the Endangered Species Act of 1973 to provide for expedited consultation and conferencing (within 60 days of the date on which initiated) with respect to impacts on endangered or threatened species of federal agency flood control actions.
Directs the Secretary of the Interior or of Commerce, as appropriate, acting through the Fish and Wildlife Service, any other federal land management agency, the National Marine Fisheries Service, or a state conservation agency, to relocate from the flood control levee: (1) any threatened or endangered species of plant or animal that would be taken in the course of the agency action; and (2) any plant or other natural material that the Secretary considers to be suitable habitat, or a component of suitable habitat, for such species and that the Secretary determines would be damaged, destroyed, or removed in the course of the action. Bars the Secretary from requiring a non-federal person (other than a state conservation agency) to carry out any measures to minimize or mitigate impacts of agency flood control actions.