110 STAT. 3798 PUBLIC LAW 104-304—OCT. 12, 1996 whether the use of remotely controlled valves is technically and economically feasible and would reduce risks associated with a rupture of an interstate natural gas pipeline facility. Standards. "(B) Not later than one year after the survey and assessment are completed, if the Secretary has determined that the use of remotely controlled valves is technically and economically feasible and would reduce risks associated with a rupture of an interstate natural gas pipeline facility, the Secretary shall prescribe standards under which an operator of an interstate natural gas pipeline facility must use a remotely controlled valve. These standards shall include, but not be limited to, requirements for high-density population areas.". SEC. 6. RISK MANAGEMENT. (a) IN GENERAL. —Chapter 601 is amended by adding at the end the following:
- ^§ 60126. Risk management
"(a) RISK MANAGEMENT PROGRAM DEMONSTRATION PROJECTS. — " (1) IN GENERAL.— The Secretary shall establish risk management demonstration projects— "(A) to demonstrate, through the voluntary participation by owners and operators of gas pipeline facilities and hazardous liquid pipeline facilities, the application of risk management; and "(B) to evaluate the safety and cost-effectiveness of the program. "(2) EXEMPTIONS.— In carrying out a demonstration project under this subsection, the Secretary, by order— "(A) may exempt an owner or operator of the pipeline facility covered under the project (referred to in this subsection as a 'covered pipeline facility'), from the applicability of all or a portion of the requirements under this chapter that would otherwise apply to the covered pipeline facility; and "(B) shall exempt, for the period of the project, an owner or operator of the covered pipeline facility, from the applicabihty of any new steindard that the Secretary promulgates under this chapter during the period of that participation, with respect to the covered facility. "(b) REQUIREMENTS.—In carrying out a demonstration project under this section, the Secretary shall— "(1) invite owners and operators of pipeline facilities to submit risk management plans for timely approval by the Secretary; "(2) require, as a condition of approval, that a risk management plan submitted under this subsection contain measures that are designed to achieve an equivalent or greater overall level of safety than would otherwise be achieved through compliance with the standards contained in this chapter or promulgated by the Secretary under this chapter; "(3) provide for— "(A) collaborative government and industry training; "(B) methods to measure the safety performance of risk management plans; "(C) the development and application of new technologies;
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