To modify a section relating to a fiscal transparency and prioritization report.

SA 4683. Mr. INHOFE (for himself and Mr. Bond) submitted an amendment
intended to be proposed by him to the bill S. 728, to provide for the
consideration and development of water and related resources, to
authorize the Secretary of the Army to construct various projects for
improvements to rivers and harbors of the United States, and for other
purposes; as follows:

Strike section 2004 and insert the following:

SEC. 2004. FISCAL TRANSPARENCY AND PRIORITIZATION REPORT.

(a) In General.--On the third Tuesday of January of each
year beginning January 2008, the Chief of Engineers shall
submit to the Committee on Environment and Public Works of
the Senate and the Committee on Transportation and
Infrastructure of the House of Representatives a report
describing--
(1) the expenditures of the Corps of Engineers for the
preceding fiscal year and estimated expenditures for the
current fiscal year; and
(2) the extent to which each authorized project of the
Corps of Engineers meets the national priorities described in
subsection (b).
(b) National Priorities.--
(1) In general.--The national priorities referred to in
subsection (a)(2) are--
(A) to reduce the risk of loss of human life and risk to
public safety;
(B) to benefit the national economy;
(C) to protect and enhance the environment; and
(D) to promote the national defense.
(2) Evaluation of projects.--
(A) In general.--In evaluating the extent to which a
project of the Corps of Engineers meets the national
priorities under paragraph (1), the Chief of Engineers--
(i) shall develop a relative rating system that is
appropriate for--

(I) each project purpose; and
(II) if applicable, multipurpose projects; and

(ii) may include an evaluation of projects using additional
criteria or subcriteria, if the additional criteria or
subcriteria are--

(I) clearly explained; and
(II) consistent with the method of evaluating the extent to
which a project meets the national priorities under this
paragraph.

(B) Factors.--The Chief of Engineers shall establish such
factors, and assign to the factors such priority, as the
Chief of Engineers determines to be appropriate to evaluate
the extent to which a project meets the national priorities.
(C) Consideration.--In establishing factors under
subparagraph (B), the Chief of Engineers may consider--
(i) for evaluating the reduction in the risk of loss of
human life and risk to public safety of a project--

(I) the human population protected by the project;
(II) current levels of protection of human life under the
project; and
(III) the risk of loss of human life and risk to public
safety if the project is not completed, taking into
consideration the existence and probability of success of
evacuation plans relating to the project, as determined by
the Director of the Federal Emergency Management Agency;

(ii) for evaluating the benefit of a project to the
national economy--

(I) the benefit-cost ratio, and the remaining benefit-
remaining cost ratio, of the project;
(II) the availability and cost of alternate transportation
methods relating to the project;
(III) any applicable financial risk to a non-Federal
sponsor of the project;
(IV) the costs to State, regional, and local entities of
project termination;
(V) any contribution of the project with respect to
international competitiveness; and
(VI) the extent to which the project is integrated with,
and complementary to, other Federal, State, and local
government programs, projects, and objectives within the
project area;

(iii) for evaluating the extent to which a project protects
or enhances the environment--

(I) for ecosystem restoration projects and mitigation plans
associated with other project purposes--

(aa) the extent to which the project or plan restores the
natural hydrologic processes of an aquatic habitat;
(bb) the significance of the resource to be protected or
restored by the project or plan;
(cc) the extent to which the project or plan is self-
sustaining; and
(dd) the cost-effectiveness of the project or plan; and

(II) the pollution reduction benefits associated with using
water as a method of transportation of goods; and

(iv) for evaluating the extent to which a project promotes
the national defense--

(I) the effect of the project relating to a strategic port
designation; and
(II) the reduction of dependence on foreign oil associated
with using water as a method of transportation of goods.

(c) Contents.--In addition to the information described in
subsections (a) and (b), the report shall contain a detailed
accounting of the following information:
(1) With respect to general construction, information on--
(A) projects currently under construction, including--
(i) allocations to date;
(ii) the number of years remaining to complete
construction;
(iii) the estimated annual Federal cost to maintain that
construction schedule; and
(iv) a list of projects the Corps of Engineers expects to
complete during the current fiscal year; and
(B) projects for which there is a signed cost-sharing
agreement and completed planning, engineering, and design,
including--
(i) the number of years the project is expected to require
for completion; and
(ii) estimated annual Federal cost to maintain that
construction schedule.
(2) With respect to operation and maintenance of the inland
and intracoastal waterways under section 206 of Public Law
95-502 (33 U.S.C. 1804)--
(A) the estimated annual cost to maintain each waterway for
the authorized reach and at the authorized depth; and
(B) the estimated annual cost of operation and maintenance
of locks and dams to ensure navigation without interruption.
(3) With respect to general investigations and
reconnaissance and feasibility studies--
(A) the number of active studies;
(B) the number of completed studies not yet authorized for
construction;
(C) the number of initiated studies; and
(D) the number of studies expected to be completed during
the fiscal year.
(4) Funding received and estimates of funds to be received
for interagency and international support activities under
section 318(a) of the Water Resources Development Act of 1990
(33 U.S.C. 2323(a)).
(5) Recreation fees and lease payments.
(6) Hydropower and water storage fees.
(7) Deposits into the Inland Waterway Trust Fund and the
Harbor Maintenance Trust Fund.
(8) Other revenues and fees collected.
(9) With respect to permit applications and notifications,
a list of individual permit applications and nationwide
permit notifications, including--
(A) the date on which each permit application is filed;
(B) the date on which each permit application is determined
to be complete; and
(C) the date on which the Corps of Engineers grants,
withdraws, or denies each permit.
(10) With respect to the project backlog, a list of
authorized projects for which no funds have been allocated
for the 5 preceding fiscal years, including, for each
project--
(A) the authorization date;
(B) the last allocation date;

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(C) the percentage of construction completed;
(D) the estimated cost remaining until completion of the
project; and
(E) a brief explanation of the reasons for the delay.
______