Blackfoot River Land Settlement Act of 2012- (Sec. 4) Extinguishes all claims and all right, title, and interest in and to specified Indian and non-Indian land as part of the settlement of disputes within the Fort Hall Indian Reservation of the Shoshone and Bannock Indian Tribes in Idaho resulting from the realignment of the Blackfoot River by the Corps of Engineers in 1964. (The Blackfoot River forms the northern boundary of the Reservation; its realignment resulted in certain Indian land being located north of the river, outside the Reservation, and certain non-Indian land being located south of the river, within the Reservation.)
(Sec. 5) Requires the non-Indian land to be held in trust for the Tribes.
(Sec. 6) Transfers the Indian land to Blackfoot River Flood Control District No. 7 for conveyance to the non-Indians acquiring Indian land.
(Sec. 7) Establishes a tribal trust fund account from which amounts, authorized by this Act, shall be distributed to the Tribes. Allows the Tribes to use those amounts for: (1) construction of a natural resources facility, (2) water resources needs, (3) economic development, (4) land acquisition, and (5) other purposes the Tribes deem appropriate.
Establishes an allottee trust account into which amounts, authorized by this Act, shall be deposited into individual Indian money accounts for certain allottees. (These allottees are heirs of the original allottees of the Reservation who own an interest in land that is held in trust for them by the United States, but is now located north of the realigned river.)
(Sec. 8) Requires the Secretary of the Interior to pay to the Tribes and the non-Indian landowners such attorney fees as are approved by them. Sets a limit on the total amount of attorney fees that the Secretary may pay.
(Sec. 12) Authorizes appropriations, specified amounts of which are to be: (1) deposited in the tribal trust fund account, (2) deposited in the allottee trust account, (3) provided to Blackfoot River Flood Control District No. 7, and (4) distributed as attorney fees.
Prohibits amounts the Tribes receive under this Act from being distributed to their members on a per capita basis.