Wallowa Lake Dam Rehabilitation and Water Management Act of 2001

Wallowa Lake Dam Rehabilitation and Water Management Act of 2001 - Authorizes the Secretary of the Interior, acting through the Commissioner of Reclamation: (1) in cooperation with the Associated Ditch Companies, Incorporated, to participate in the Wallowa Lake Dam Rehabilitation Program; and (2) in cooperation with tribal, State, and local governmental entities, to participate in the planning, design, and construction of facilities needed to implement the Wallowa Valley Water Management Plan.

Limits the Federal share of the cost of activities authorized under this Act to 80 percent and prohibits the Federal Government from holding title to any facility rehabilitated or constructed under this Act. Permits only the Nez Perce Tribe to own and operate any facility located at the Dam for trapping and transportation of migratory adult salmon.