Directs the Secretary to prepare a feasibility report for every water resource study authorized. Enumerates information to be included in such report. Directs the Secretary, before preparing a feasibility report, to perform a reconnaissance survey of the potential water resources project to define problems with the project, together with their possible solutions. Provides that non-Federal interests shall agree, by contract, to contribute 50 percent of the cost of any feasibility report for any water resources study. Establishes an Environmental Protection and Mitigation Fund. Authorizes appropriations for this Fund for fiscal years beginning with FY 1986. Authorizes use of the Fund moneys to mitigate project-induced losses to fish and wildlife production and habitat. Authorizes the Secretary to study the water resources needs of river basins and regions of the United States, and report the results of such study to the Congress by October 1, 1987. Authorizes the Secretary to establish and develop campgrounds for individuals 62 years of age or older at any lake or reservoir under the Secretary's jurisdiction. Authorizes appropriations for fiscal years beginning with FY 1986. Authorizes the development of and appropriations for a 62-or-older campground in Texas at the Sam Rayburn Dam and Reservoir. Identifies such parcel of land by metes and bounds. Directs the Secretary of the Army, acting through the Chief of Engineers, to undertake measures to prevent flood damage along the route of the Meramec River in Missouri. Authorizes the Secretary to repair dams found to be in a hazardous or unsafe condition. Authorizes the Secretary to repair the dam spillway at Schuyler County Public Water Supply District No. 1, Missouri. Directs the Secretary to make necessary repairs to the Milton Dam in Mahoning County, Ohio. Requires the Secretary to annually update the inventory of dams. Authorizes appropriations for fiscal years beginning with FY 1986. Directs the Secretary to maintain a drift and debris removal project at Buffalo Harbor, New York. Declares Lake Pend Oreille, Idaho, to be nonnavigable water. Authorizes the Secretary, upon official State request, to provide designs, plans, and/or technical assistance to States or local governments for removing snags and other debris in navigable streams. Authorizes the Secretary to provide assistance in the breakup of river and harbor ice. Directs the Secretary to provide such assistance on a priority basis with respect to the Kankakee River, Wilmington, Illinois. Directs the Secretary to report to the Congress annually on the effectiveness of such program. Authorizes appropriations for FY 1986 through 1988. Authorizes the Secretary to preserve historic sites under the jurisdiction of the Department of the Army if such properties are entered in the National Register of Historic Places. Directs the Secretary to convey a parcel of surplus land to Metropolitan Park in Ohio for a flood control project. Directs the Secretary to maintain the navigation projects on the Delaware River in the Philadelphia and Trenton areas. Declares downstream recreation on the Gauley River, West Virginia, to be an additional project. Provides for incremental whitewater release and water storage at the Summersville Dam in West Virginia to aid in such recreation project. Recognizes the Upper Mississippi River to be a nationally significant ecosystem and commercial navigation system. Approves a master plan as a guide for future water policy on the Upper Mississippi River. Grants the consent of the Congress to Illinois, Iowa, Minnesota, Missouri, and Wisconsin to enter into negotiations for agreements for cooperative efforts and mutual planning in the development of such river. States that such agreements shall become final only after ratification by the Congress. Designates the Upper Mississippi River Basin Association as the caretaker of the master plan. Authorizes the Secretary, in consultation with the aforementioned midwestern States, to undertake: (1) a program for planning, construction, and evaluation of fish and wildlife enhancement measures; (2) implementation of a long-term resource monitoring program; and (3) implementation of a computerized inventory and analysis system. Provides for termination of such programs ten years from the date of enactment of this Act, with specified evaluations and reports. Authorizes appropriations for ten fiscal years after the date of enactment of this Act. Authorizes the Secretary to implement a program of recreational projects for the Upper Mississippi River System. Authorizes appropriations for this purpose for ten fiscal years after the date of enactment of this Act, along with specified evaluations and reports. Directs the Secretary to dispose of dredged materials from the System and to request funding for a program to facilitate productive uses of dredged materials. Declares the intent of the Congress to recognize the importance of the economic vitality of the Great Lakes region and Saint Lawrence Seaway as the "Fourth Seacoast" of the United States. Establishes the Great Lakes Commodities Marketing Board (the Board) to develop a strategy to improve the capacity of the Great Lakes region to produce, market, and transport commodities in a timely manner and to maximize the efficiency and benefits of market products produced in and/or shipped through the Great Lakes region. Requires the strategy to address environmental issues relating to transportation on the Great Lakes and marketing difficulties experienced due to late harvest seasons in the Great Lakes region. Requires such strategy to develop and analyze various information concerning marketing and shipping in the Great Lakes region. Outlines the composition and organizational rules for the Board. Requires the Board, no later than September 30, 1988, to submit a report to the President and both Houses of the Congress on strategies to assure maximum economic benefits to users of the Great Lakes region. Terminates the Board 180 days after such report is submitted. Authorizes appropriations for FY 1986 through 1989. Directs the President to invite the Government of Canada to join in the formation of an international advisory group to: (1) develop a bilateral program for improving navigation on the Great Lakes; and (2) conduct investigations and make recommendations for a systemwide navigation improvement program on the Great Lakes. Outlines the composition and organizational rules for such advisory group. Requires such group, one year after its formation and biennially thereafter, to report to the Congress and the Canadian Parliament on its progress. Directs the Secretary and the Administrator of the Environmental Protection Agency to carry out a review of the environmental, economic, and social impacts of navigation in the U.S. portion of the Great Lakes. Requires the Secretary and the Administrator to submit an interim report to the Congress by September 30, 1987, and a final report by September 30, 1989. Requires acquisition by the Secretary of all lands and interest before authorized construction begins on any water resources project in this Act. Establishes an Office of Environmental Policy within the Office of the Chief of Engineers to be responsible for all environmental policy matters as they relate to the water resources programs of the Army Corps of Engineers. Limits appropriations for the repair and modification of the Illinois and Mississippi Canal. Provides that certain prohibitions and provisions for review of activities in waters of the U.S. shall not apply to any water development projects at the Great Miami River Basin or the Great Miami River and its tributaries in Ohio. Directs the Secretary, when analyzing the costs and benefits of any recommended flood control project along the Pearl River near Jackson, Mississippi, to take into account the costs and benefits of any measures undertaken under Federal law enacted between July 1, 1983, and December 31, 1986. Provides a maximum time limitation for construction of any project in this Act of five years after the date of enactment of this Act. Provides that any lease for projects in this Act shall continue in effect on and after December 31, 1989, until such lease is terminated by the leaseholder. Requires fair market values for such leases after such date. Enumerates conditions required before the Secretary may terminate a lease on or after December 31, 1989. Limits modifications to projects to those which: (1) do not materially alter the scope or function of the project; and (2) reflect changes in construction costs and are the result of additional plans and studies. Authorizes review by the Secretary of water projects constructed before enactment of this Act. Authorizes the Secretary to carry out a demonstration program within two years of enactment of this Act for the purpose of making modifications in the structures and operations of water projects constructed before enactment. Requires a report to the Congress concerning such project. Authorizes appropriations. Authorizes the Secretary to reimburse the State of New York for 50 percent of the costs of maintaining and operating the New York State Barge Canal, and 50 percent of the cost of reconstructing and rehabilitating the Canal. Requires the Secretary to study the need for reconstructing and rehabilitating the New York State Barge Canal for commercial, recreational, historic, and environmental purposes. Requires the Secretary and New York State to each provide 50 percent of the annual cost of maintaining such canal. Requires a report on the Canal to both houses of the Congress within two years of enactment of this Act. Provides that no appropriation shall be made for such Canal project unless both houses of the Congress approve of such by resolution. Defines areas included within the New York State Barge Canal. Authorizes the Secretary to develop and implement a flood warning system for the Whitewater River, California. Requires the Secretary to provide for the employment of residents in high-unemployment areas where water projects are being constructed. Requires a report to the Congress by the Secretary within 90 days after requests for project appropriations. Requires such reports to contain current information on the potential benefits of such project to unemployed residents of the area. Requires the Secretary to amend a Federal contract with the State of Illinois concerning the use of water supply storage space on the Big Muddy River in Illinois. Directs the Secretary to make a loan to the city of Hawaiian Gardens, California, to pay the cost of acquisition and rehabilitation of a water supply system. Abolishes the California Debris Commission, transferring its duties to the Secretary. Authorizes the Chief of Engineers to perform emergency work upon public or private land for ten days following a Governor's request for such emergency or disaster relief. Makes technical amendments to various flood control acts relating to amounts of appropriations. Requires the Secretary to expedite completion of a study for a new lock parallel to Poe Lock on the Saint Lawrence Seaway and submit a report to the Congress. Directs the Secretary to report to the Congress every January 15th on activities undertaken in the development of water resources projects. Authorizes appropriations for FY 1986 and 1987. Directs the Secretary to reevaluate the feasibility of the Elk Creek Lake feature of the project for the Rogue River, Oregon and California. Directs the Secretary to implement a study of the possibility of increased capabilities of the U.S. Army Corps of Engineers for the planning and construction of water resources projects on an expedited basis. Requires the Secretary to transmit to both Houses of the Congress an annual report specifying the amount of electricity generated, the revenues received, and the operational costs of each water resource project constructed by the Secretary. Authorizes the President to appoint a regular officer from the Armed Forces as the Federal Commissioner of the Red River Compact Commission. Amends the River and Harbor Act to provide for reconstruction of water works as necessary to provide adequate facilities for navigation. Requires congressional approval of such reconstruction before any appropriations are made. Authorizes the Secretary to construct and improve facilities at the Niagara Frontier Transportation Authority, Port of Buffalo. Authorizes the Secretary to construct and maintain a navigation channel from the mouth of the Beaver River at Bridgewater, Pennsylvania, to New Brighton, Pennsylvania. Authorizes the Secretary to plan, design, and construct a demonstration project for groundwater recharge in the drainage basin of Tucson, Arizona. Authorizes the Secretary to modify the water delivery schedule from the central and southern Florida project to the Everglades National Park and to conduct experimental delivery programs there. Authorizes modifications in the flood control plan for central and southern Florida in order to restore the natural flow of water to the Everglades National Park. Authorizes the Secretary to acquire interests in agricultural lands which are adversely affected by such water delivery schedule. Authorizes and directs the Secretary to undertake emergency bank stabilization measures to protect bridges on Elm Creek near Decatur, Nebraska. Authorizes the Secretary to improve public access to and lessen the safety hazard of Pearson-Skubitz Big Hill Lake, Kansas. Amends the Flood Control Act of 1970 to prohibit funds from being appropriated or expended to construct chloride control projects within the Arkansas River Basin. Authorizes the Secretary to conduct a feasibility restudy of the Arkansas River chloride control project and report the findings to the Congress. Requires a value engineering review during design for each water resources project whose cost is in excess of $10,000,000. Defines "value engineering review." Requires appropriate non-Federal interests to provide the necessary lands, easements, and rights-of-way for any water resources demonstration project authorized by this or any future Act. Requires the Secretary, beginning October 1, 1985, to carry out measurements and make necessary computations relating to the diversion of water from Lake Michigan and to coordinate the results with downstate Illinois interests. Defines the measurements to be taken. Authorizes appropriations beginning with FY 1986. Provides that the total amount for construction of water resources projects shall not exceed $1,500,000,000 for each of FY 1986 and 1987, and $1,600,000,000 for each of FY 1988 through 1990. Authorizes and directs the Secretary to remove the Berkeley Pier, San Francisco Bay, California. Authorizes the Secretary to implement a cropland irrigation research program for the Saint John River Basin, Maine. Authorizes appropriations for such program for FY 1986 through 1988. Authorizes the Secretary to undertake certain construction and repair on the Tutuila Islands, American Samoa. Amends the Flood Control Act of 1968 to increase the per-project Federal reimbursement to States or political subdivisions for water resources development projects. Directs the Secretary, the Director of the Federal Emergency Management Agency, and the Administrator of the Soil Conservation Service to ensure that information relating to flood hazard areas is generally available to the public. Authorizes the Secretary to accept funds from any entity for the purpose of protecting fish and wildlife in connection with projects constructed or operated by the Secretary. Authorizes the Secretary to take certain specified actions upon a finding that any non-Federal interest is not complying with cooperation requirements in carrying out any water resources project. Authorizes the Administrator of the Environmental Protection Agency to conduct a study concerning Great Lakes water use. Specifies certain analyses and reviews to be included in such study. Authorizes appropriations, beginning with FY 1986, for such study. Prohibits water from being diverted from any portion of the Great Lakes within the United States unless such diversion is approved by the Governor of each of the Great Lake States. Authorizes the Secretary to remove and dispose of toxic pollutants from areas of the Buffalo River, New York, if such removal is approved by appropriate congressional committees. Requires the Secretary to conduct a study concerning toxic pollutants in such river and report the findings to the appropriate congressional committees within one year of enactment of this Act. Authorizes appropriations for such study, beginning with FY 1986. Declares Bayou Lafourche, Louisiana, to be a nonnavigable waterway. Authorizes the Secretary to acquire from willing sellers land which is subject to frequent flood damage, located within the Passaic River Basin flood control study area. Directs the Secretary to report quarterly to appropriate congressional committees concerning civil works construction contracts and their availability to small businesses. Authorizes the Secretary to dispose of any dredging vessels under the control of the Corps of Engineers. Authorizes and directs the Secretary to construct a second lock adjacent to the existing lock at Sault Sainte Marie, Michigan. Authorizes the collection of tolls or user fees from vessels using the William G. Stone Lock in Yolo County, California. Authorizes the Secretary to construct a water transmission line in Bristol, Tennessee. Authorizes the Secretary to undertake a demonstration project to reduce shoaling in the Satilla River Basin, Camden County, Georgia. Authorizes appropriations to be expended for various projects within the "National Area," Kentucky and Tennessee. Authorizes the Secretary to permit the delivery of water from the Dalecarlia filtration plant, the District of Columbia, to any State or local authority in the Washington, D.C., metropolitan area in Maryland. Authorizes the Secretary to purchase water from any such State or local authority. Authorizes the Secretary to study measures to prevent flooding in the Thurman to Hamburg area of the Missouri River, Iowa. Requires the Secretary to submit a report on the results of such study to the Congress within two years of the date of enactment of this Act. Directs the Secretary to install pumping facilities in such area. Authorizes the Secretary to design, construct, operate, and maintain a project for flood control and navigation maintenance on the Toutle, Cowlitz, and Columbia Rivers, Washington. Directs the Secretary to disclose petroleum product information to any State taxing agency making such a request provided that such agency has in effect provisions of law which protect the confidentiality of such information. Increases the fine for the failure to furnish information required by the Secretary of the Army to $500 (previously $100). Directs the Secretary to consider structural and nonstructural alternatives to solving the water resources problem of the Upper St. John's River Basin, Florida. Directs the Secretary to conduct recommended mitigation activities for Gorton's Pond, Warwick, Rhode Island. Authorizes appropriations for such project beginning in FY 1986. Directs the Secretary to construct a set of emergency gates in the conduit of the Abiquiu Dam, New Mexico. Directs the Secretary to undertake measures to protect and restore the Acequia irrigation ditch systems in New Mexico, and to study the feasibility of constructing flood storage reservoirs. Allows the Secretary of Agriculture to conduct feasibility studies on authorizing water resources projects for: (1) flood prevention; (2) conservation, development, utilization, and disposal of water; and (3) conservation and utilization of land. Directs the Secretary to consult with concerned Great Lake States regarding the selection of disposal areas for dredged material. Establishes the Cross Florida National Conservation Area. Provides that the State of Florida shall retain jurisdiction and responsibility for water resources planning, development, and control of the surface and ground water of the Conservation Area. Deauthorizes the lock barge canal from the Saint Johns River across Florida to the Gulf of Mexico. Directs the Secretary, in consultation with the U.S. Forest Service, the U.S. Fish and Wildlife Service, and the State of Florida, to develop and transmit to the Congress a comprehensive management plan with respect to lands in the Conservation Area. Directs the Secretary to operate the Rodman Dam in a manner which will assure the continuation of Lake Ocklawaha. Prohibits the Secretary from operating the Eureka Lock and Dam in a manner which would create a reservoir on lands not flooded on January 1, 1984. Directs the Secretary to acquire lands held by the Canal Authority of the State of Florida for the barge canal deauthorized by this Act. Directs the Canal Authority to make payments to specified Florida counties. Directs the Secretary, in consultation with the Secretaries of the Interior and Commerce and appropriate State agencies, to develop projects for the creation, protection, restoration, and enhancement of wetlands in the lower Mississippi Valley. Allows the Secretary to waive local cost-sharing requirements up to $200,000 and approve the construction of projects with a lower benefit to cost ratio in American Samoa, Guam, the Northern Mariana Islands, the Virgin Islands, and the Trust Territory of the Pacific.