Directs the President to establish or designate an interagency committee to implement the Initiative, which shall: (1) develop a National Water Research and Assessment Plan; (2) coordinate all water-related federal research, development, demonstration, data collection and dissemination, education, and technology transfer activities; (3) encourage cooperation among federal agencies; and (4) facilitate technology transfer, communication, and opportunities for information exchange with various parties through a National Water Initiative Coordination Office (to be established by the President to provide technical and administrative support to the committee).

Requires the Plan to: (1) establish priorities for federal water research; (2) identify each current program and activity related to the Initiative; (3) identify funding levels; (4) set forth a strategy and timeline to achieve specified desired outcomes, including implementation of a National Water Census; (5) address suggestions and incorporate public input received; and (6) be submitted to Congress within one year of enactment.

Directs the President to: (1) provide guidance to each federal agency participating in the Initiative regarding the preparation of requests for appropriations for activities related to the Plan; and (2) submit, concurrent with the annual budget submission to Congress, a report that describes Initiative activities and results during the previous fiscal year and outlines objectives for the next fiscal year.

Requires the committee to: (1) develop a National Water Research and Assessment Plan in coordination with state, local, and tribal governments; (2) coordinate all water-related federal research, development, demonstration, data collection and dissemination, education, and technology transfer activities; (3) encourage cooperation among federal agencies and state, local, and tribal governments; (4) facilitate technology transfer, communication, and opportunities for information exchange with various parties through a National Water Initiative Coordination Office (to be established by the President to provide technical and administrative support to the committee); (5) provide guidance on outreach to encourage eligible minority serving institutions under the Higher Education Act of 1965 to apply for funding opportunities specified in the Plan; (6) encourage cooperation between federal agencies, state and local governments, and tribal governments to develop standard methods for collecting, managing, and disseminating data on water; and (7) require each agency that conducts water-related research or has authority over resources that affect water supply to identify the statutory or regulatory barriers preventing the use of any technology, technique, data collection method, or model that would contribute to greater availability of water resources in the United States through enhanced efficiency and conservation and to report at specified intervals to Congress.

Requires the Plan to: (1) establish priorities for federal water research; (2) identify each current program and activity related to the Initiative; (3) identify funding levels; (4) set forth a strategy and timeline to achieve specified desired outcomes, including implementation of a National Water Census, development of a new generation of water monitoring techniques, and analyses of the social, behavioral, and economic barriers to sustainable use of water resources in the United States; (5) address suggestions and incorporate public input; and (6) be submitted to Congress within one year.

(Sec. 3) Directs the President to: (1) provide guidance to each federal agency participating in the Initiative regarding the preparation of requests for appropriations for activities related to the Plan; and (2) submit, concurrent with the annual budget submission to Congress, a report that describes Initiative activities and results for the previous fiscal year and objectives for the next fiscal year. Requires the interagency committee to coordinate the activities of the Initiative with the U.S. Global Change Research Program.

(Sec. 6) Directs the Comptroller General to study and report to Congress on the feasibility and practicality of creating a national water pilot testing facility.

(Sec. 7) Amends the Energy Independence and Security Act of 2007 to provide for funding under the energy-intensive industries program of research to develop water efficient technologies that increase energy efficiency, including utilization of impaired water sources in production.

(Sec. 8) Authorizes appropriations to the National Oceanic and Atmospheric Administration (NOAA) for coordination and outreach activities conducted under this Act through the Office for FY2010-FY2012.

Requires the committee to: (1) develop a National Water Research and Assessment Plan in coordination with state, local, and tribal governments; (2) coordinate all water-related federal research, development, demonstration, data collection and dissemination, education, and technology transfer activities; (3) encourage cooperation among federal agencies and state, local, and tribal governments; (4) facilitate technology transfer, communication, and opportunities for information exchange with various parties through a National Water Initiative Coordination Office (to be established by the President to provide technical and administrative support to the committee); (5) provide guidance on outreach to encourage eligible minority serving institutions and institutions of higher education located in areas affected by drought to apply for funding opportunities specified in the Plan; (6) encourage cooperation between federal agencies, state and local governments, and tribal governments to develop standard methods for collecting, managing, and disseminating data on water; (7) require each agency that conducts water-related research or has authority over resources that affect water supply to identify the statutory or regulatory barriers preventing the use of any technology, technique, data collection method, or model that would contribute to greater availability of water resources in the United States through enhanced efficiency and conservation and to report at specified intervals to Congress; and (8) assess the role of federal water research funding in helping to develop the next generation of scientists and engineers at institutions of higher education.

Requires the Plan to: (1) establish priorities for federal water research; (2) identify each current program and activity related to the Initiative; (3) identify funding levels; (4) set forth a strategy and timeline to achieve specified desired outcomes, including implementation of a National Water Census, development of a new generation of water monitoring techniques and technologies, and analyses of the social, behavioral, and economic barriers to sustainable use of water resources in the United States; (5) address suggestions and incorporate public input; and (6) be submitted to Congress within one year and be revised and resubmitted every four years thereafter.

(Sec. 3) Directs the President to: (1) provide guidance to each federal agency participating in the Initiative regarding the preparation of requests for appropriations for activities related to the Plan; and (2) submit, concurrent with the annual budget submission to Congress, a report that describes Initiative activities and results for the previous fiscal year and objectives for the next fiscal year.

Requires: (1) the Director of the Office of Science and Technology Policy to submit to Congress an evaluation of the budget as it relates to federal water research and the success of the interagency committee in meeting the desired outcomes; and (2) the interagency committee to coordinate the activities of the Initiative with the U.S. Global Change Research Program.

Expresses the sense of Congress that the interagency committee should collaborate with public institutions of higher education whenever possible.

(Sec. 6) Directs the Comptroller General to study and report to Congress on the feasibility and practicality of creating a national water pilot testing facility.

(Sec. 7) Amends the Energy Independence and Security Act of 2007 to provide for funding under the energy-intensive industries program of research to develop water efficient technologies that increase energy efficiency, including utilization of impaired water sources in production.

(Sec. 8) Directs the Assistant Administrator for Research and Development of the Environmental Protection Agency (EPA) to establish a wastewater and stormwater reuse and recycling technology demonstration program.

(Sec. 9) Amends the Water Resources Research Act of 1984 to require each water resources research and technology institute to: (1) support the goals of the Initiative; and (2) submit to the interagency committee a single, coordinated, annual report that identifies future water research needs. Requires research and development to include technical research on prevention and removal of contaminants of emerging concern, including endocrine disrupting compounds, pharmaceuticals, and personal care products, in water resources.

(Sec. 10) Directs the EPA Administrator to establish a national pilot program exploring the use of energy audits of water-related infrastructure to identify energy and water saving opportunities.

(Sec. 11) Authorizes appropriations to the National Oceanic and Atmospheric Administration (NOAA) for coordination and outreach activities conducted under this Act through the Office for FY2010-FY2014.

(Sec. 12) Directs the Secretary of the Interior to enter into an arrangement with the National Academy of Sciences for a study on the impact of changes in snow pack (including from the Sierra Nevada) on water resources and its relation to water supply (including the Sacramento-San Joaquin Delta).

(Sec. 13) Directs the President to submit to Congress a report that: (1) identifies from each agency on the interagency committee the statutory or regulatory barriers that prevent the use of a technology, technique, data collection method, or model considered under this Act and that thereby contribute to the loss of jobs in rural or agricultural economies dependent on the greater availability of U.S. water resources; (2) identifies the long-term consequences on job losses of such barriers; and (3) recommends steps to remove such barriers.

Directs the President to submit a report that: (1) identifies the economic impacts of water diversions for water supply, conservation for fish species, and water quality impairment in the San Joaquin Valley of California; and (2) recommends steps to mitigate such economic impacts to preserve the water-dependent rural economy.