To permit the construction of flood control projects by non-Federal interests.

[AI summary unavailable — showing source text] Authorizes non-Federal interests (NFIs) to undertake flood control projects, subject to obtaining any required permits in advance of actual construction. Authorizes an NFI or the Secretary of the Army, upon request, to undertake all necessary studies and engineering for such projects. Authorizes any NFI which has received from the Secretary a favorable recommendation for a flood control project (or separable element thereof) to carry out such project if a final environmental impact statement has been filed. Directs the Secretary to monitor any project for which a permit is granted to ensure permit compliance. Authorizes the Secretary to reimburse any NFI for the Federal share of an authorized flood control project if the Secretary: (1) approves the construction plans of the NFI; and (2) finds that such construction is economically justified and environmentally acceptable.…