The bill aims to revise laws concerning lakeshore protection by establishing a statute of limitations for actions against property owners or contractors who violate lakeshore regulations. Specifically, it stipulates that any legal action must be initiated within two years of the completion of construction or the issuance of a permit for structures within the lakeshore protection zone, such as docks and retaining walls. However, this limitation does not apply to illegally constructed items that cause documented harm to lakeshore stability, water quality, or navigation.

Additionally, the bill provides exemptions from future permitting for minor ongoing maintenance, remodeling, or modifications to these structures, as long as the changes do not exceed $10,000 over a five-year period and do not involve significant excavation or interference with aquatic life. The local governing body or state retains the authority to compensate property owners for the removal or alteration of structures if deemed necessary for lakeshore protection. The bill is set to take effect immediately upon passage and approval.