Great Lakes Emergency Shoreline Protection Act

[AI summary unavailable — showing source text] Great Lakes Emergency Shoreline Protection Act - Establishes a federally guaranteed loan program for the protection from shoreline erosion of improvements to residential real property contiguous with the Great Lakes. Sets forth conditions for loan eligibility and State subsidies. Sets forth related authorities of the Secretary of the Army, acting through the Chief of Engineers, including authority to establish a limitation on the interest rate on eligible loans, to make foreclosures, and to transfer guarantees. Directs the Secretary, acting through the Chief of Engineers, to: (1) develop minimum standards for shoreline erosion protection construction; and (2) report to the Congress on damage from subsurface water seepage. Requires the Secretary to submit to the Congress a single report on the effectiveness of the shoreline protection program and of erosion protection devices. Authorizes FY 1987 through 1992 appropriations.…