Corps of Engineers Civil Works Independent Investigation and Review Act - Directs the President to establish the Corps of Engineers Civil Works Independent Investigation and Review Commission to investigate and report to Congress on the Corps, with emphasis on: (1) the effectiveness of civilian control over civil works functions, particularly the effectiveness of the relationship between uniformed officers and the office of the Assistant Secretary of the Army for Civil Works with respect to responsiveness, lines of authority, and coordination; (2) compliance through such functions with environmental laws in the design and operation of projects; (3) the quality and objectivity of scientific, environmental, and economic analyses; (4) the extent of coordination and cooperation with other Federal and State agencies in designing and implementing projects; (5) whether the size of the Corps is appropriate; (6) whether and how the management structure should be changed; (7) whether any of the civil works functions should be transferred from the Department of the Army to a civilian agency or should be privatized; (8) whether any segments of the inland water system should be closed; (9) whether any planning regulations should be revised to give equal consideration to economic and environmental goals of a project; (10) whether any currently authorized projects should be deauthorized; (11) whether all studies conducted by the Corps should be subject to independent review; and (12) the extent to which project benefits exceed costs or accrue to private interests.
Authorizes appropriations.