Real estate appraisal validity

(a) In general Not later than 210 days after the date of enactment of this Act, the Secretary shall— (1) complete a review of policies and guidance of the Corps of Engineers that are applicable to the real estate appraisal process for civil works projects for purposes of identifying efficiencies that may be incorporated into such process, including guidance related to review and approval of such appraisals; and (2) based on such review, issue revisions to such policies and guidance to ensure efficient project delivery and avoid delays during feasibility study review and approval, to the extent practicable. (b) Requirements In carrying out subsection (a), the Secretary shall develop— (1) guidelines for determining the validity of an appraisal at any time during the period beginning on the date on which the Secretary receives the appraisal and ending on the date on which the certification of a total project cost estimate for the applicable project expires; and (2) standard— (A) timeframes for review of appraisals; and (B) delegations of authority to approve appraisals, for use at the discretion of the Secretary. (c) Report to Congress Not later than 30 days after completion of the review under subsection (a), the Secretary shall submit to the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Environment and Public Works of the Senate a report that— (1) describes the findings of the review; (2) identifies any revisions to policy and guidance made as a result of the review; and (3) identifies any additional recommendations for legislative action to further improve the real estate appraisal process.