(a) In general
The Secretary shall periodically conduct assessments of federally authorized levees under the jurisdiction of the Corps of Engineers, to evaluate the potential Federal interest in the modification (including realignment or incorporation of natural features and nature-based features, as such terms are defined in section 2289a(a) of this title) of levee systems to meet one or more of the following objectives:

(1) Increasing the flood risk reduction benefits of such systems.

(2) Achieving greater flood resiliency.

(3) Restoring hydrological and ecological connections with adjacent floodplains that achieve greater environmental benefits without undermining flood risk reduction or flood resiliency for levee-protected communities.

(b) Levees operated by non-Federal interests
The Secretary shall carry out an assessment under subsection (a) for a federally authorized levee system operated by a non-Federal interest only if the non-Federal interest—

(1) requests the assessment; and

(2) agrees to provide 50 percent of the cost of the assessment.

(c) Assessments

(1) Considerations
In conducting an assessment under subsection (a), the Secretary shall consider and identify, with respect to each levee system—

(A) an estimate of the number of structures and population at risk and protected by the levee system that would be adversely impacted if the levee system fails or water levels exceed the height of any levee segment within the levee system (which may be the applicable estimate included in the levee database established under section 3303 of this title, if available);

(B) the number of times the non-Federal interest has received emergency flood-fighting or repair assistance under section 701n of this title for the levee system, and the total expenditures on postflood repairs over the life of the levee system;

(C) the functionality of the levee system with regard to higher precipitation levels, including due to changing climatic conditions and extreme weather events;

(D) the potential costs and benefits (including environmental benefits and implications for levee-protected communities) from modifying the applicable levee system to restore connections with adjacent floodplains; and

(E) available studies, information, literature, or data from relevant Federal, State, or local entities.

(2) Prioritization
In conducting an assessment under subsection (a), the Secretary shall, to the maximum extent practicable, prioritize levee systems—

(A) associated with an area that has been subject to flooding in two or more events in any 10-year period; and

(B) for which the non-Federal interest has received emergency flood-fighting or repair assistance under section 701n of this title with respect to such flood events.

(3) Scope
The Secretary shall ensure that an assessment under subsection (a) shall be similar in cost and scope to an initial assessment prepared by the Secretary pursuant to section 549a of this title.

(d) Flood plain management services
In conducting an assessment under subsection (a), the Secretary shall consider information on floods and flood damages compiled under section 709a of this title.

(e) Report to Congress

(1) In general
Not later than 18 months after December 23, 2022, and periodically thereafter, 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 on the results of the assessments conducted under subsection (a).

(2) Inclusion
The Secretary shall include in each report submitted under paragraph (1)—

(A) identification of any levee system for which the Secretary has conducted an assessment under subsection (a);

(B) a description of any opportunities identified under such subsection for the modification of a levee system, including the potential benefits of such modification for the purposes identified under such subsection;

(C) information relating to the willingness and ability of each applicable non-Federal interest to participate in a modification to the relevant levee system, including by obtaining any real estate necessary for the modification; and

(D) a summary of the information considered and identified under subsection (c)(1).

(f) Incorporation of information
The Secretary shall include in the levee database established under section 3303 of this title the information included in each report submitted under subsection (e), and make such information publicly available (including on a publicly available website).

(g) Levee system defined
In this section, the term "levee system" has the meaning given that term in section 3301(9) of this title.

(h) Authorization of appropriations
There is authorized to be appropriated to carry out this section $10,000,000, to remain available until expended.