Conservation Investment Act of 2001

Conservation Investment Act of 2001 - Amends the Food Security Act of 1985 to increase maximum acreage amounts for the conservation reserve program and the wetlands reserve program.

Directs the Secretary of Agriculture to establish a grassland reserve program for land that is or has historically been natural grass or shrubland and has significant potential for animal or plant restoration. Sets forth provisions respecting landowner easement payments and permitted and prohibited practices.

Extends funding (increases FY 2002 amounts) for the environmental quality incentives program. Revises contract term provisions. Repeals payment limitation provisions.

Amends the Federal Agriculture Improvement and Reform Act of 1996 to: (1) extend funding (increases FY 2002 amounts) for the wildlife habitat incentives program; and (2) provide annual amounts through FY 2011 for the farmland protection program.

Amends the Watershed Protection and Flood Prevention Act to increase and extend funding for rehabilitation of water resource structural measures near or past their expected life expectancy.