(a) In general

The Secretary shall coordinate with the non-Federal entities responsible for the operation and maintenance of transferred works in developing reporting requirements for Asset Management Reports with respect to major repair and rehabilitation needs for transferred works that are similar to the reporting requirements described in section 505a-1(b) of this title.

(b) Guidance

(1) In general

After considering input from water and power contractors of the Bureau, the Secretary shall develop and implement a rating system for transferred works that incorporates, to the maximum extent practicable, the rating system for major repair and rehabilitation needs for reserved works developed under section 505a-1(b)(3) of this title.

(2) Updates

The ratings system developed under paragraph (1) shall be included in the updated Asset Management Reports under section 505a-1(c) of this title.