; (3) submit reports regarding such projects to Congress in a timely manner; (4) fully assess the effects of any reduction in the basic allowance for housing on the financial condition of such projects; and (5) define, for each military department, the tolerance for risk regarding the future sustainability of such projects relative to the goal of providing members of the Armed Forces with quality housing. (b) Report or briefing Not later than 90 days after the date of the enactment of this Act, the Secretary of Defense shall submit a report or provide a briefing to the Committee on Armed Services of the Senate and the Committee on Armed Services of the House of Representatives on— (1) the status of the implementation of subsection (a), including specific dates by which the Secretary expects to complete the implementation of such subsection; and (2) the steps being taken by the Secretary to improve the financial condition of any project conducted under subchapter IV of chapter 169 of title 10, United States Code, that is— (A) considered to be in financial distress; or (B) rated as unacceptable, marginal, below expectations, well below expectations, or on a watch list.