Section 12A. (a) As used in this section, the following words shall, unless the context clearly requires otherwise, have the following meanings:

''Council'', the performance and asset management advisory council created under this section.

''Local transportation agency'', the city, town or other governmental entity's department of transportation or public works that has jurisdiction over the transportation assets in that city, town or entity and that receives state or federal funding.

''Performance and asset management system'', the permanent, comprehensive and integrated system, developed by the department pursuant to sections 6 and 12, that require the operation, maintenance, upgrade and expansion of all transportation assets, that are cost-effectively administered throughout their lifecycle, by continuously updating physical inventory, condition assessments and performance information.

''Transportation assets'', capital assets, including but not limited to, any city, town, county or state highway, road, street, pavement, parkway, facilities, structures, construction and maintenance equipment, vehicles, real estate, materials, corporate data and information, equipment, rolling stock, infrastructure and facilities for use in public transportation; ground and water transportation facilities and equipment; and any rights-of-way, bridges, tunnels, railroad highway crossings, drainage structures, signs and guardrails.

(b) There shall be a performance and asset management advisory council charged with advising the board on the creation of an integrated asset management system pursuant to section 12.

The council shall consist of the secretary, who shall serve as chair, and the following members as appointed by the secretary: 2 members of the board, 2 members from the Massachusetts Municipal Association, 2 members from different regional planning agencies, 1 member from the construction industry, and 1 member from a business association. Each member shall be appointed for a term of 3 years. The council may appoint a technical assistance panel, to serve in an advisory, non-binding capacity, which shall be comprised of transportation planning, construction and engineering associations. The council shall determine the scope of research and assign projects to the technical assistance panel as necessary in the development of statewide policies. The department shall provide the council with qualified administrative staff and the regional planning agencies may provide qualified technical assistance to the council.

(c) The council shall review the criteria required for the performance measurement system pursuant to subsection (b) of section 6 and the comprehensive long-term capital plan required by section 11A. The council shall make a report to the board on the following: (i) improvements that can be made to ensure comprehensive multi-modal transportation planning and analysis; (ii) additional performance metrics, such as enterprise-wide measures across modes, contract management, procurement, project controls, financials, organizational and prioritization outcomes; and (iii) economic development impacts, and benchmarks measured against performance by other states and countries. The council shall make recommendations on the processes and tools needed to implement a strategy for the performance and asset management system.

(d) The council shall present minimum standards and guidelines delineating standardized data and information that shall be contained in the performance and asset management systems, including the complete integration of transit, highway, aeronautics, water and port assets, and the possible inclusion of municipal roadways. The minimum standards shall include: (i) the keeping of accurate and uniform records of real transportation assets, (ii) the mileage and condition of each road and bridge system under various jurisdictions, (iii) the receipts and disbursements of road, street and transit funds, (iv) a multiyear compilation of projects anticipated to be contracted for or by the department or local transportation agencies that are funded in whole or in part with state or federal funds, and (v) any other categories established by the council. The council shall recognize the differences in local, regional or other agencies' circumstances and nothing in this section shall prohibit a local transportation agency or other governmental agency from using a separate asset management process on any eligible system. All quality control standards and protocols shall, at a minimum, be consistent with any existing federal requirements and regulations and existing government accounting standards.

(e) On or before October 1 of each year, the council shall provide an annual progress report on the performance and asset management system to the house and senate committees on ways and means and the joint committee on transportation.