The Oregon Transportation Commission shall conduct a study of the historic, scenic and cultural values of the state highway system. The study required by this subsection is subject to the following:
(1) In developing the study the commission shall appoint a volunteer citizen advisory committee to advise the commission on the study.
(2) The study shall identify and evaluate areas of the state highway system for their historic, recreational or scenic significance.
(3) The study shall designate highways, portions of highways or highway related structures as historic and scenic highways.