§ 1269-c. Metropolitan transportation authority capital program review board; additional powers and duties. a. The metropolitan transportation authority capital program review board, consisting of voting and non-voting members shall (1) monitor the progress of the capital elements described in each plan approved as provided in section twelve hundred sixty-nine-b of this title; (2) monitor the expenditures incurred and to be incurred for each such element; (3) identify capital elements not progressing on schedule; (4) ascertain responsibility therefor; and (5) recommend those actions required or appropriate to accelerate their implementation. The authority shall consult with the board upon its request and provide it with access to the records of the authority relating to such capital elements.

b. The authority shall submit to the review board within sixty days after the end of each calendar year (1) the actual commitments for the capital plan for the previous calendar year compared to planned commitments by capital element; (2) expenditures by funding source for each capital element in the previous calendar year; and (3) the proposed funding of capital elements in a plan for the current calendar year by funding source. Such submission shall be certified by the chairman of the authority and shall be entered into the permanent record of the minutes of the review board.

c. On or before October first, two thousand twenty-three, and on or before October first of every fifth year thereafter, the authority shall submit to the metropolitan transportation authority capital program review board a twenty-year capital needs assessment. Such assessment shall begin with the period commencing January first, two thousand twenty-five, and begin each assessment with every fifth year thereafter, and describe capital investments over the succeeding twenty years. Such assessment shall: (1) set forth broad long-term capital investments to be made throughout the district; and (2) establish a non-binding basis to be used by the authority in the planning of strategic investments involving capital elements in its five-year capital plans. Such assessment shall not require a vote of the metropolitan transportation authority capital program review board and shall be for informational purposes only. For purposes of this section, "broad long-term capital investments" shall include but not be limited to: system rebuilding, enhancement, and expansion needs; agency needs broken down by capital element or investment category; and projected future trends and network implications. Such assessment shall be certified by the chairman of the authority and shall be entered into the permanent record of the minutes