Upper Mississippi River Basin Conservation Act of 2001

Upper Mississippi River Basin Conservation Act of 2001 - Directs the Secretary of the Interior (Secretary), through the United States Geological Service, to establish a nutrient and sediment monitoring network for the Basin to: (1) monitor sediment and nutrient loss; (2) record changes to sediment and nutrient loss; (3) provide coordinated data to be used in computer modeling of the Basin; and (4) identify major sources for targeting resources to reduce sediment and nutrient loss.

Directs the Secretary to: (1) establish guidelines for related data collection and storage activities; (2) inventory the sediment and monitoring efforts of governmental and nongovernmental entities for the purpose of creating a baseline understanding of overlap, data gaps, and redundancies; and (3) collaborate with other public and private monitoring efforts in establishing the monitoring program.

Directs the National Research Council of the National Academy of Sciences to conduct an assessment of water resource and water quality management within the Basin.

Requires the Director of the United States Geological Survey, in collaboration with the Chief of the Natural Resources Conservation Service, to establish a computer modeling program of nutrient and sediment sources in the Basin.

Directs the Secretary of Agriculture to: (1) work with public and private entities to evaluate best management practices to reduce nutrient and sediment loss; (2) assess such practices' economic risks; and (3) administer a grant program to demonstrate such practices.

Requires the Director to establish an Internet-based system to distribute information about nutrient and sediment loss reduction projects and nutrient and sediment levels in the Upper Mississippi River and its tributaries.

Amends the Food Security Act of 1985 to provide for privacy of personal data received with respect to natural resources conservation programs.

Directs the Secretary of Agriculture to establish the Advisory Council on the Upper Mississippi River Stewardship Initiative.

Directs the Secretary of Agriculture and the Secretary of the Interior to establish an Interagency Working Group to coordinate Federal nutrient and sediment reduction efforts in the Basin.