((a)) ** Agency reporting** As soon as practicable after each fiscal year for which amounts are made available to carry out this chapter, the Secretary and the Administrator shall publish on a dedicated, publicly accessible Internet site—

((1)) each application received for assistance under this chapter; and

((2)) a list of the projects selected for assistance under this chapter, including—

((A)) a description of each project;

((B)) the amount of financial assistance provided for each project; and

((C)) the basis for the selection of each project with respect to the requirements of this chapter.

((b)) ** Reports to Congress**

((1)) ** In general** Not later than 3 years after , the Comptroller General of the United States shall submit to the Committee on Environment and Public Works of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives a report summarizing for the projects that are receiving, or have received, assistance under this chapter—

((A)) the applications received for assistance under this chapter;

((B)) the projects selected for assistance under this chapter, including a description of the projects and the basis for the selection of those projects with respect to the requirements of this chapter;

((C)) the type and amount of financial assistance provided for each project selected for assistance under this chapter;

((D)) the financial performance of each project selected for assistance under this chapter, including an evaluation of whether the objectives of this chapter are being met;

((E)) the benefits and impacts of implementation of this chapter, including the public benefit provided by the projects selected for assistance under this chapter, including, as applicable, water quality and water quantity improvement, the protection of drinking water, and the reduction of flood risk; and

((F)) an evaluation of the feasibility of attracting non-Federal public or private financing for water infrastructure projects as a result of the implementation of this chapter.

((2)) ** Recommendations** The report under paragraph (1) shall include—

((A)) an evaluation of the impacts (if any) of the limitation under section 3907(a)(5)  of this title on the ability of eligible entities to finance water infrastructure projects under this chapter;

((B)) a recommendation as to whether the objectives of this chapter would be best served—

((i)) by continuing the authority of the Secretary or the Administrator, as applicable, to provide assistance under this chapter;

((ii)) by establishing a Government corporation or Government-sponsored enterprise to provide assistance in accordance with this chapter; or

((iii)) by terminating the authority of the Secretary and the Administrator under this chapter and relying on the capital markets to fund the types of infrastructure investments assisted by this chapter without Federal participation; and

((C)) any proposed changes to improve the efficiency and effectiveness of this chapter in providing financing for water infrastructure projects, taking into consideration the recommendations made under subparagraphs (A) and (B).