Large Scale Water Recycling Project and Drought Resiliency Investment Act This bill requires the Department of the Interior to award grants to water or power delivery authorities for the planning, design, and construction of large-scale water recycling and reuse projects in drought-stricken regions of certain Western states. The bill includes emergency drought planning as a watershed management project under the Cooperative Watershed Management Program. Financial assistance may be made available under the Reclamation States Emergency Drought Relief Act of 1991 for eligible water projects to assist Western states and tribal governments to address drought-related impacts to water supplies or any other immediate water-related crisis or conflict.