; (ii) details of the project improvement plan and design; (iii) proposed arrangements for the work to be performed; and (iv) documents relating to any applicable permits required for the project improvements. (3) Requirements (A) Peer review waiver In the case of a project with a cost of less than $200,000,000, the Secretary shall not be required to subject the project to independent peer review pursuant to section 2034 of the Water Resources Development Act of 2007 ( 33 U.S.C. 2343 ). (B) Calculation of costs In calculating the benefit-cost ratio for a project under paragraph (1), the Secretary shall not include non-Federal costs. (4) Deadline The Secretary shall make a determination on whether the requirement under paragraph (1)(A)(i) has been met by not later than 180 days after the date on which the Secretary receives the report under paragraph (2). . 1016. Transparency and accountability in cost sharing for water resources development projects Section 1120 of the America's Water Infrastructure Act of 2018 ( 33 U.S.C. 2315b ) is amended by adding at the end the following: (d) Excess funds In the case of a beach nourishment project carried out by the Secretary for which funds in excess of the funds needed to complete the nourishment cycle in the current fiscal year have been contributed by a non-Federal interest, on the request of the non-Federal interest, the Secretary shall, at the end of the fiscal year— (1) transfer the excess non-Federal funds to the non-Federal interest