A bill to amend the Internal Revenue Code of 1954 to allow a deduction for property improvements designed to prevent shoreline erosion caused by high water levels in the Great Lakes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow an income tax deduction equal to 50 percent of the qualified erosion prevention expenditures paid or incurred by the taxpayer which are not chargeable to capital account. Defines "qualified erosion prevention expenditures" as expenditures for the improvement of real property within the United States which borders the Great Lakes and which is susceptible to shoreline erosion. Requires the Chief of Engineers of the United States Army to prepare specifications for improvements of shoreline property and establish maximum costs for such improvements.…