Authorizes the Secretary of the Interior to acquire the lands, waters and interests to forty-eight-mile segment of the Chattahoochee River in Georgia. Provides that such area be set aside to establish the Chattahoochee River National Recreation Area. Directs the Secretary to allow owners of land, within the recreation area, used for noncommercial residential or agricultural purposes to retain such land for a definite term not to exceed twenty- five years. Directs the Secretary of administer, protest, and develop the recreation area in accordance with the Atlanta Regional Commission Chattahoochee Corridor Study. Allows the Secretary to enter into written agreements with agencies of the State of Georgia for their participation in the administration and development of the recreation area.