Directs the Secretary of the Interior: (1) in order to determine the feasibility of agreements for long-term use of existing or expanded non-federal storage and conveyance facilities to augment federal water supply, ecosystem, and operational flexibility benefits, to enter into cooperative agreements with non-federal entities to provide replacement water supplies for drought relief for Central Valley Project contractors, units of the National Wildlife Refuge System, state wildlife areas, and private wetland areas; and (2) complete a report (to be made available to the Chief of the National Wildlife Refuge System and Central Valley Project contractors) on the feasibility of such agreements within two years of this Act's enactment.

Requires such agreements to: (1) include the purchase of storage capacity in non-federal facilities from willing sellers; and (2) provide reimbursement for the temporary use of available capacity in existing above-ground, off-stream storage, and associated conveyance facilities owned by local water agencies.