,i #aahth ,,congress #ast ,session ,h4 ,r4 #dfjh ,,in ,,the ,,house ,,of ,,representatives ,july #ac1 #bjbc,mr4 ,de,saulnier introduced the following bill2 which was referred to the ,committee on ,transportation and ,infrastructure ,a ,,bill ,to amend title #bc1 ,united ,states ,code1 to establish additional requirements for certain transportation projects with estimated costs of #b1ejj1jjj1jjj or more1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,transportation ,megaprojects ,accountability and ,oversight ,act4 #b4 ,additional requirements for certain transportation projects 7a7 ,in general ,section #ajf of title #bc1 ,united ,states ,code1 is amended by adding at the end the following3 7k7 ,megaprojects 7#a7 ,megaproject defined ,in this subsection1 the term megaproject means a project that has an estimated total cost of #b1ejj1jjj1jjj or more1 and such other projects as may be identified by the ,secretary4 7#b7 ,comprehensive risk management plan ,a recipient of ,federal financial assistance under this title for a megaproject shall1 in order to be authorized for construction1 submit to the ,secretary a comprehensive risk management plan that contains-- 7,a7 a description of the process by which the recipient will identify1 quantify1 and monitor the risks that might result in cost overruns1 project delays1 reduced construction quality1 or reductions in benefits with respect to the megaproject2 7,b7 examples of mechanisms the recipient will use to track risks identified pursuant to subparagraph 7,a72 7,c7 a plan to control such risks2 and 7,d7 such assurances as the ,secretary considers appropriate that the recipient will1 with respect to the megaproject-- 7i7 regularly submit to the ,secretary updated cost estimates2 and 7ii7 maintain and regularly reassess financial reserves for addressing known and unknown risks4 7#c7 ,peer review group 7,a7 ,in general ,a recipient of ,federal financial assistance under this title for a megaproject shall1 not later than #ij days after the date when such megaproject is authorized for construction1 establish a peer review group for such megaproject that consists of at least #e individuals 7including at least #a individual with project management experience7 to give expert advice on the scientific1 technical1 and project management aspects of the megaproject4 7,b7 ,membership 7i7 ,in general ,not later than #ahj days after the date of enactment of this subsection1 the ,secretary shall establish guidelines describing how a recipient described in subparagraph 7,a7 shall-- 7,i7 recruit and select members for a peer review group established under such subparagraph2 and 7,,ii7 make publicly available the criteria for such selection and the identity of members so selected4 7ii7 ,conflict of interest ,no member of a peer review group for a megaproject may have a direct or indirect financial interest in such megaproject4 7,c7 ,tasks ,a peer review group established under subparagraph 7,a7 by a recipient of ,federal financial assistance for a megaproject shall-- 7i7 meet annually until completion of the megaproject2 7ii7 not later than #ij days after the date of the establishment of the peer review group and not later than #ij days after the date of any significant change1 as determined by the ,secretary1 to the scope1 schedule1 or budget of the megaproject1 review the scope1 schedule1 and budget of the megaproject1 including planning1 engineering1 financing1 and any other elements determined appropriate by the ,secretary2 and 7iii7 submit a report on the findings of each review under clause 7ii7 to the ,secretary1 ,congress1 and the recipient4 7#d7 ,transparency ,a recipient of ,federal financial assistance under this title for a megaproject shall publish on the internet website of such recipient-- 7,a7 the name1 license number1 and license type of each engineer supervising an aspect of the megaproject2 and 7,b7 the report submitted under paragraph 7#c77;,c77iii71 not later than #ij days after such submission4 7#e7 ,committee 7,a7 ,in general ,not later than #ahj days after the date of enactment of this subsection1 the ,secretary of ,transportation shall make appropriate arrangements with the ,transportation ,research ,board 7hereinafter referred to as the ,board7 of the ,national ,academies under which the ,board shall convene a transportation megaprojects committee4 7,b7 ,duties ,the transportation megaprojects committee convened pursuant to subparagraph 7,a7 shall-- 7i7 perform a literature search and assessment of existing megaproject studies2 7ii7 review any relevant foreign experience and actions taken1 with a particular focus on the ,united ,kingdom and ,france2 7iii7 identify recurring or typical problems with megaprojects2 7iv7 outline possible approaches to dealing with the problems in the ,federal and ,state context2 and 7v7 recommend any changes in the ,department of ,transportation's approach to megaproject funding and oversight1 such as a recommendation that each project be required to identify a peer group to work with project management and report to the ,inspector ,general and ,congress4 7,c7 ,report ,not later than #c years after the date of enactment of this subsection1 the committee convened pursuant to subparagraph 7,a7 shall submit to the ,secretary1 the ,committee on ,transportation and ,infrastructure of the ,house of ,representatives1 and the ,committee on ,environment and ,public ,works of the ,senate a report containing any results1 findings1 and recommendations made by the committee under subparagraph 7,b74 4 7b7 ,applicability ,the amendment made by subsection 7a7 applies with respect to projects that are authorized for construction on or after the date that is #a year after the date of enactment of this ,act4