rate project, or separable project element to achieve 
those benefits. 
(3) RULES APPLICABLE TO CERTAIN MEASURES, 
PROJECTS, AND ELEMENTS.—Any additional meas-
ures, separate project, or separable element identified 
under paragraph (1) or (2) and recommended for 
construction shall not be considered integral to the 
underlying project and, if authorized, shall be subject 
to a separate partnership agreement, unless a non- 
Federal interest agrees to share in the cost of the ad-
ditional measures, project, or separable element. 
(c) CALCULATION
OF BENEFITS
AND COSTS
FOR 
FLOOD DAMAGE REDUCTION PROJECTS.—A feasibility 
study for a project for flood damage reduction shall include, 
as part of the calculation of benefits and costs— 
(1) a calculation of the residual risk of flooding 
following completion of the proposed project; 
(2) a calculation of any upstream or down-
stream impacts of the proposed project; and 
(3) calculations to ensure that the benefits and 
costs associated with structural and nonstructural al-
ternatives are evaluated in an equitable manner. 
SEC. 2037. INDEPENDENT PEER REVIEW. 
(a) PROJECT STUDIES SUBJECT
TO INDEPENDENT 
PEER REVIEW.— 
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(1) IN GENERAL.—Project studies shall be subject 
to a peer review by an independent panel of experts 
as determined under this section. 
(2) SCOPE.—The peer review may include a re-
view of the economic and environmental assumptions 
and projections, project evaluation data, economic 
analyses, environmental analyses, engineering anal-
yses, formulation of alternative plans, methods for in-
tegrating risk and uncertainty, models used in eval-
uation of economic or environmental impacts of pro-
posed projects, and any biological opinions of the 
project study. 
(3) PROJECT STUDIES SUBJECT TO PEER RE-
VIEW.— 
(A) MANDATORY.—A project study shall be 
subject to peer review under paragraph (1)— 
(i) if the project has an estimated total 
cost of more than $50,000,000, including 
mitigation costs, and is not determined by 
the Chief of Engineers to be exempt from 
peer review under paragraph (6); or 
(ii) the Governor of an affected State 
requests a peer review by an independent 
panel of experts. 
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(B) DISCRETIONARY.—A project study may 
be subject to peer review if— 
(i) the head of a Federal or State agen-
cy charged with reviewing the project study 
determines that the project is likely to have 
a significant adverse impact on environ-
mental, cultural, or other resources under 
the jurisdiction of the agency after imple-
mentation of proposed mitigation plans and 
requests a peer review by an independent 
panel of experts; or 
(ii) the Chief of Engineers determines 
that the project study is controversial. 
(4) CONTROVERSIAL PROJECTS.—Upon receipt of 
a written request under paragraph (3)(B) or on the 
initiative of the Chief of Engineers, the Chief of Engi-
neers shall determine whether a project study is con-
troversial. 
(5) FACTORS
TO
CONSIDER.—In determining 
whether a project study is controversial, the Chief of 
Engineers shall consider if— 
(A) there is a significant public dispute as 
to the size, nature, or effects of the project; or 
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