To require the Secretary of Agriculture to provide cost-share payments in support of on-farm water conservation projects to enhance regional water availability and quality.

Directs the Secretary of Agriculture to: (1) provide cost-share payments to agricultural producers for water conservation projects on farms involving the construction, improvement, or maintenance of irrigation ponds and the implementation of other measures that improve groundwater and surface water conservation; and (2) administer such payments as part of the environmental quality incentives program.

Bases project priority on: (1) irrigation cost effectiveness (in cases of comparable project purposes); and (2) control of surface water runoff.