Clean Renewable Water Supply Act of 2009 - Amends the Internal Revenue Code to provide for the issuance, until 2019, of tax-exempt clean renewable water supply bonds to finance certain water recycling, desalination, and groundwater remediation projects that comply with requirements for minimization of environmental impact.
Establishes a national clean renewable water supply bond limitation for each of calendar years 2010-2018. Sets forth provsions governing the allocation of such limitation among qualified projects. Directs the Secretary of the Treasury to conduct a study of the method of allocation to determine whether a different method would result in the development of projects to provide new supplies of water in a more efficient manner.