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.