(A) The director of transportation shall develop a written project selection process for the prioritization of new transportation capacity projects. The director shall include the following in the process:
(1) A description of how strategic initiatives submitted by the director are advanced by the process;
(2) A definition of the kinds of projects to which the process applies;
(3) Criteria that are used to rank proposed projects by how effectively a project contributes to the advancement of the strategic initiatives;
(4) Data that is necessary to apply the ranking criteria;
(5) Any other provisions the director considers appropriate.
(B) In developing the project selection process, the director shall seek and consider public comment on the process. In doing so, the director may hold public hearings in various locations around the state.