Rocky Boy's/North Central Montana Regional Water System Act of 2001 - Directs the Secretary of the Interior, acting through the Commissioner of Reclamation: (1) to plan, design, construct, operate, maintain, and replace the core water system for the Rocky Boy's Reservation in Montana and to operate, maintain, and replace the water distribution system on the Reservation (both at a 100 percent cost share); (2) at the request of the Chippewa Cree Tribe on the Reservation, to enter into a self-governance agreement with the Tribe to carry out such functions; and (3) to enter into a cooperative agreement with the North Central Montana Regional Water Authority to provide Federal funds for the planning, design, and construction of the noncore rural water system for specified Montana counties outside the Reservation (at a 75 percent cost share).
Directs the Secretary to authorize and provide for the use of power from the Pick-Sloan Eastern Division to start up and operate such water systems.
Requires the Tribe and the Authority to develop a water conservation plan that contains: (1) a description of water conservation objectives and appropriate water conservation measures; and (2) a time schedule for implementing the measures to meet the objectives.