study for a project for flood damage reduction shall in-
clude, 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 
alternatives are evaluated in an equitable manner. 
SEC. 2030. INDEPENDENT PEER REVIEW. 
(a) PROJECT STUDIES SUBJECT TO INDEPENDENT 
PEER REVIEW.— 
(1) IN GENERAL.—Project studies shall be sub-
ject to a peer review by an independent panel of ex-
perts 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 
integrating risk and uncertainty, models used in 
evaluation of economic or environmental impacts of 
proposed 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) 
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). 
(B) DISCRETIONARY.—A project study 
may be subject to peer review if— 
(i) the Governor of an affected State 
requests a peer review by an independent 
panel of experts; 
(ii) the head of a Federal or State 
agency charged with reviewing the project 
study determines that the project is likely 
to have a significant adverse impact on en-
vironmental, cultural, or other resources 
under the jurisdiction of the agency after 
implementation of proposed mitigation 
plans and requests a peer review by an 
independent panel of experts; or 
(iii) 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 
Engineers shall determine whether a project study is 
controversial. 
(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 
(B) there is a significant public dispute as 
to the economic or environmental costs or bene-
fits of the project. 
(6) PROJECT STUDIES EXCLUDED FROM PEER 
REVIEW.—Project studies that may be excluded from 
peer review under paragraph (1) are— 
(A) a study for a project the Chief of En-
gineers determines— 
(i) is not controversial; 
(ii) has no more than negligible ad-
verse impacts on scarce or unique cultural, 
historic, or tribal resources; 
(iii) has no substantial adverse im-
pacts on fish and wildlife species and their
habitat prior to the implementation of 
mitigation measures; and 
(iv) has, before implementation of 
mitigation measures, no more than a neg-
ligible adverse impact on a species listed as 
endangered or threatened species under 
the Endangered Species Act of 1973 (16 
U.S.C. 1539 et seq.) or the critical habitat 
of such species designated under such Act; 
and 
(B) a study for a project pursued under 
section 205 of the Flood Control Act of 1948 
(33 U.S.C. 701s), section 2 of the Flood Con-
trol Act of August 28, 1937 (33 U.S.C. 701g), 
section 14 of the Flood Control Act of 1946 (33 
U.S.C. 701r), section 107(a) of the River and 
Harbor Act of 1960 (33 U.S.C. 577(a)), section 
3 of the Act entitled ‘‘An Act authorizing Fed-
eral participation in the cost of protecting the 
shores of publicly owned property’’, approved 
August 13, 1946 (33 U.S.C. 426g), section 111 
of the River and Harbor Act of 1968 (33 
U.S.C. 426i), section 3 of the Act entitled ‘‘An 
Act authorizing the construction, repair, and 
preservation of certain public works on rivers