Transportation Megaprojects Accountability and Oversight Act of 2021
This bill sets forth additional requirements for a recipient of assistance under National Highway System provisions for a megaproject. (A megaproject is a project that has an estimated total cost of  $2.5 billion or more.)
Specifically, the bill requires a recipient to
DOT must make arrangements with the Transportation Research Board of the National Academies under which the board must convene a transportation megaprojects committee.
To amend title 23, United States Code, to establish additional 
 requirements for certain transportation projects with estimated costs 
           of $2,500,000,000 or more, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Transportation Megaprojects 
Accountability and Oversight Act of 2021''.

SEC. 2. ADDITIONAL REQUIREMENTS FOR CERTAIN TRANSPORTATION PROJECTS.

    (a) In General.--Section 106 of title 23, United States Code, is 
amended by adding at the end the following:
    ``(k) Megaprojects.--
            ``(1) Megaproject defined.--In this subsection, the term 
        `megaproject' means a project that has an estimated total cost 
        of $2,500,000,000 or more, and such other projects as may be 
        identified by the Secretary.
            ``(2) Comprehensive risk management plan.--A recipient of 
        Federal financial assistance under this title for a megaproject 
        shall, in order to be authorized for construction, submit to 
        the Secretary a comprehensive risk management plan that 
        contains--
                    ``(A) a description of the process by which the 
                recipient will identify, quantify, and monitor the 
                risks that might result in cost overruns, project 
                delays, reduced construction quality, or reductions in 
                benefits with respect to the megaproject;
                    ``(B) examples of mechanisms the recipient will use 
                to track risks identified pursuant to subparagraph (A);
                    ``(C) a plan to control such risks; and
                    ``(D) such assurances as the Secretary considers 
                appropriate that the recipient will, with respect to 
                the megaproject--
                            ``(i) regularly submit to the Secretary 
                        updated cost estimates; and
                            ``(ii) maintain and regularly reassess 
                        financial reserves for addressing known and 
                        unknown risks.
            ``(3) Peer review group.--
                    ``(A) In general.--A recipient of Federal financial 
                assistance under this title for a megaproject shall, 
                not later than 90 days after the date when such 
                megaproject is authorized for construction, establish a 
                peer review group for such megaproject that consists of 
                at least 5 individuals (including at least 1 individual 
                with project management experience) to give expert 
                advice on the scientific, technical, and project 
                management aspects of the megaproject.
                    ``(B) Membership.--
                            ``(i) In general.--Not later than 180 days 
                        after the date of the enactment of this 
                        subsection, the Secretary shall establish 
                        guidelines describing how a recipient described 
                        in subparagraph (A) shall--
                                    ``(I) recruit and select members 
                                for a peer review group established 
                                under such subparagraph; and
                                    ``(II) make publicly available the 
                                criteria for such selection and the 
                                identity of members so selected.
                            ``(ii) Conflict of interest.--No member of 
                        a peer review group for a megaproject may have 
                        a direct or indirect financial interest in such 
                        megaproject.
                    ``(C) Tasks.--A peer review group established under 
                subparagraph (A) by a recipient of Federal financial 
                assistance for a megaproject shall--
                            ``(i) meet annually until completion of the 
                        megaproject;
                            ``(ii) not later than 90 days after the 
                        date of the establishment of the peer review 
                        group and not later than 90 days after the date 
                        of any significant change, as determined by the 
                        Secretary, to the scope, schedule, or budget of 
                        the megaproject, review the scope, schedule, 
                        and budget of the megaproject, including 
                        planning, engineering, financing, and any other 
                        elements determined appropriate by the 
                        Secretary; and
                            ``(iii) submit a report on the findings of 
                        each review under clause (ii) to the Secretary, 
                        Congress, and the recipient.
            ``(4) Transparency.--A recipient of Federal financial 
        assistance under this title for a megaproject shall publish on 
        the internet website of such recipient--
                    ``(A) the name, license number, and license type of 
                each engineer supervising an aspect of the megaproject; 
                and
                    ``(B) the report submitted under paragraph 
                (3)(C)(iii), not later than 90 days after such 
                submission.
            ``(5) Committee.--
                    ``(A) In general.--Not later than 180 days after 
                the date of enactment of this subsection, the Secretary 
                of Transportation shall make appropriate arrangements 
                with the Transportation Research Board (hereinafter 
                referred to as the `Board') of the National Academies 
                under which the Board shall convene a transportation 
                megaprojects committee.
                    ``(B) Duties.--The transportation megaprojects 
                committee convened pursuant to subparagraph (A) shall--
                            ``(i) perform a literature search and 
                        assessment of existing megaproject studies;
                            ``(ii) review any relevant foreign 
                        experience and actions taken, with a particular 
                        focus on the United Kingdom and France;
                            ``(iii) identify recurring or typical 
                        problems with megaprojects;
                            ``(iv) outline possible approaches to 
                        dealing with the problems in the Federal and 
                        State context; and
                            ``(v) recommend any changes in the 
                        Department of Transportation's approach to 
                        megaproject funding and oversight, 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 Congress.
                    ``(C) Report.--Not later than 3 years after the 
                date of enactment of this subsection, the committee 
                convened pursuant to subparagraph (A) shall submit to 
                the Secretary, the Committee on Transportation and 
                Infrastructure of the House of Representatives, and the 
                Committee on Environment and Public Works of the Senate 
                a report containing any results, findings, and 
                recommendations made by the committee under 
                subparagraph (B).''.
    (b) Applicability.--The amendment made by subsection (a) applies 
with respect to projects that are authorized for construction on or 
after the date that is 1 year after the date of the enactment of this 
Act.
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Transportation Me­ga­proj­ects Accountability and Oversight Act of 2021
To amend title 23, United States Code, to establish additional requirements for certain transportation projects with estimated costs of $2,500,000,000 or more, and for other purposes.
Transportation Me­ga­proj­ects Accountability and Oversight Act of 2021
Rep. DeSaulnier, Mark