Water Projects Deauthorization Reform Act of 1981

Water Projects Deauthorization Reform Act of 1981 - Amends the Water Resources Development Act of 1974 to revise the annual submission date (to February 1) of the list of water projects to be submitted to Congress by the Secretary of the Army, acting through the Chief of Engineers. Directs that such list shall contain all projects that have been authorized for at least four years (formerly eight) without any Congressional appropriations.

Requires resolutions of approval from specified committees in order to continue an authorized project that is on such deauthorization list. States that such an authorized project shall not appear on any list submitted to Congress under such Act for two years.

Specifies the project lists to which this Act shall apply.

Declares that any resolution authorizing a survey by the Chief of Engineers is neither effective nor authorized unless funds are expended for such survey within four fiscal years following its approval.

Directs the Chief of Engineers to submit to Congress, within six months of the date of enactment of this Act, a list of all studies of water projects that have inactive or deferred status. Permits the deauthorization of studies within 90 days thereafter by resolution of either of the appropriate committees.