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 flooding history and establish maximum water levels that balance flood prevention with water supply needs for communities. Reservoir owners must create and implement approved flood action plans - including flood gate systems - within 90 days of DEP rules. The Office of Emergency Management can order emergency lowering of reservoir levels during severe weather to prevent flooding, after consulting with the DEP. The state will indemnify reservoir owners who follow approved flood plans and comply with emergency orders, protecting them from related legal claims.