(1) There is hereby created the Joint Legislative Multi-Modal Fund Committee which shall consist of the Chairman of the Senate Highways and Transportation Committee, or his designee; the Chairman of the Senate Ports and Marine Resources Committee, or his designee; the Chairman of the House Transportation Committee, or his designee; and the Chairman of the House Ports, Harbors and Airports Committee, or his designee. Administration of this article shall be subject to oversight by the Joint Legislative Multi-Modal Fund Committee.
(2) MDOT shall annually prepare at its expense a written report on administration of the fund which shall include, without limitation, a description of all applications for funding received under this article, the status of each application, the criteria used to evaluate such application, and an analysis of the return and benefits from funding projects under this article. MDOT shall consult with the committees established in Section 65-1-705 when preparing such report and provide sufficient copies of the report at no cost to such committees. MDOT shall submit such report to the Joint Legislative Multi-Modal Fund Committee by not later than September 1 of each year.
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