Transportation Megaprojects Accountability and Oversight Act

This bill requires states and local agencies receiving federal transportation funds for projects costing $2.5 billion or more (called "megaprojects") to implement new oversight measures. Key provisions include mandating a comprehensive risk management plan to track cost overruns and delays, establishing an independent peer review group of experts to advise on project management, and requiring public online disclosure of project engineers and review reports. It also directs the Transportation Research Board to study megaproject challenges and report to Congress within three years. These requirements apply to projects authorized for construction one year after the bill becomes law.