Billion Dollar Boondoggle Act of 2023

S 1258, the "Billion Dollar Boondoggle Act of 2023," requires federal agencies to report annually on large-scale projects that are either significantly delayed or over budget. It applies to covered agencies (executive departments and independent regulatory agencies) and defines "covered projects" as those exceeding $1 billion over original cost estimates or being more than five years behind schedule. The bill mandates detailed reports including project descriptions, cost adjustments, schedule changes, explanations for delays or cost overruns, and details on contractor awards. This legislation focuses solely on transparency requirements for existing projects meeting specific criteria, without altering funding or project execution.