Background
The Abandoned Shipwrecks Act (Pub. L. 100-298; 43 U.S.C. §§ 2101–2106), also known as the Abandoned Shipwrecks Act of 1987, was passed into law due to severe damage to some 3,000 historic wrecks on the Great Lakes and other areas of the coast that had been looted, and in some cases ruined, by treasure hunters in the 1970s. http://www.baillod.com/shipwreck/projects/wrecklaw/ Great Lakes Shipwreck Law] On April 29, 1988, President Ronald Reagan signed the bill (Abandoned Shipwrecks Act of 1987, Pub. L. 100-298, 102 Stat. 432) into law.
Read more about this topic: Abandoned Shipwrecks Act
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