OR HB3364

Expands the Water Resources Department's grant program from planning studies to broader feasibility studies for water conservation, reuse, aquifer recharge, storage, and streamflow protection projects, and reduces the required cost match from dollar-for-dollar to 25% minimum

Renames the "Water Conservation, Reuse and Storage Investment Fund" to the "Water Project Feasibility Fund" and expands eligible grant recipients to include persons, public bodies, federally recognized tribes, and nonprofit organizations

Adds new eligible study activities including water management and conservation plans, dam safety evaluations, environmental justice impact analyses, and seasonally varying flow data collection

Streamlines the Water Supply Development Account application process by reducing the public comment period from 60 days to 30 days and clarifying the technical review team's role in scoring and ranking projects

Requires the Water Resources Department to report at least every eight years to the legislature and Water Resources Commission evaluating water funding programs, with the first report due within eight years of the act's effective date