A bill to provide for a feasibility study before carrying out any Federal action relating to the Chicago Area Water System.

Directs the Chief of Engineers, prior to any major federal action to prevent the introduction or establishment of a population of aquatic nuisance species between the Great Lakes and the Mississippi River Basins that would impact the flow of commerce or commercial activity within the Chicago Area Water [sic] System, to prepare an economic impact statement regarding: (1) the impact on commerce and commercial activity and on jobs and job opportunities; (2) any adverse economic effects that could not be avoided; (3) alternatives to the proposed action; (4) the relationship between any local short-term impacts on commerce or commercial activity and maintenance and enhancement of long-term productivity and environmental values; and (5) any adverse impacts to public or private property, including damage relating to flooding or new water drainage patterns. Allows such statement to be combined with a detailed statement of environmental impacts required to be prepared under the National Environmental Policy Act of 1969.