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 a history of causing downstream flooding and study their capacity, downstream river limits, and water needs for local communities. Reservoir owners must then create and implement approved flood action plans - including flood gates - and comply with DEP-set maximum water levels that balance flood prevention with maintaining water supply. The Office of Emergency Management can also order immediate reservoir level reductions before or during severe storms if deemed necessary to prevent flooding. These rules apply to reservoirs identified by the DEP as posing documented flood risks to downstream areas.