Requires DEP and owners of certain reservoirs to implement certain flood control measures; authorizes Office of Emergency Management to order lowering of reservoirs levels in response to severe weather events.

This bill requires New Jersey's Department of Environmental Protection (DEP) to identify reservoirs with documented history of causing or worsening downstream flooding. For these reservoirs, the DEP must study downstream flood risks and water supply needs, then set maximum water levels to balance flood prevention with community water access. Reservoir owners must create and follow an approved flood action plan (including flood gates) within 90 days of DEP rules. The Office of Emergency Management can also order immediate water level reductions during severe weather to prevent flooding, with the state indemnifying owners who comply with these orders and approved plans.