ANNUAL REPORT.

SEC. 11319. [49 U.S.C. 308 note] ANNUAL REPORT. (a) Definition of Covered Project.—In this section, the term “covered project” means a project or activity carried out with funds provided by the Department, including a project carried out under title 23 or 49, United States Code— (1) that is more than 5 years behind schedule; or (2) for which the total amount spent on the project or activity is not less than $1,000,000,000 more than the original cost estimate for the project or activity. (b) Requirement.—Not later than 1 year after the date of enactment of this Act, and annually thereafter, the Secretary shall submit to Congress a report on covered projects of the Department, which shall include, for each covered project— (1) a brief description of the covered project, including— (A) the purpose of the covered project; (B) each location in which the covered project is carried out; (C) the contract or award number of the covered project, if applicable; (D) the year in which the covered project was initiated; (E) the Federal share of the total cost of the covered project; and (F) each primary contractor, subcontractor, grant recipient, and subgrantee recipient of the covered project; (2) an explanation of any change to the original scope of the covered project, including by the addition or narrowing of the initial requirements of the covered project; (3) the original expected date for completion of the covered project; (4) the current expected date for completion of the covered project; (5) the original cost estimate for the covered project, as adjusted to reflect increases in the Consumer Price Index for All Urban Consumers, as published by the Bureau of Labor Statistics; (6) the current cost estimate for the covered project, as adjusted to reflect increases in the Consumer Price Index for All Urban Consumers, as published by the Bureau of Labor Statistics; (7) an explanation for a delay in completion or an increase in the original cost estimate for the covered project, including, where applicable, any impact of insufficient or delayed appropriations; and (8) the amount of and rationale for any award, incentive fee, or other type of bonus, if any, awarded for the covered project.