The committee must provide policy direction for the Department of Transportation's capital investments on the transportation system and must make programmatic capital investment decisions and recommendations to the commissioner of transportation. At a minimum, the committee must: make, approve, or confirm major policy and spending decisions related to construction on trunk highways; select projects pursuant to state law and department policies; make decisions on trunk highway programming; distribute uncommitted funds; direct state road construction funds to specific projects, programs, and studies; and create and maintain the investment opportunity plan and select projects from that list for funding as funds allow.
The committee must also establish and maintain an investment opportunity plan that includes projects with an identified need but are not funded by or cannot be funded by the standard programming process. The plan must set forth a process to be used when determining how to allocate funding. The commissioner of transportation must publish the plan on the Department of Transportation's website. The committee must publish on the department's website a list of all projects that the committee considers for funding. The list must identify the projects that were selected and the projects that were not selected. For each project that was not selected, the commissioner must include the reason it was not selected.