(a) This section applies only to a proposed department toll project in which a private entity has a financial interest in the project's performance and for which:
(1) funds dedicated to or controlled by a region will be used;
(2) right-of-way is provided by a municipality or county; or
(3) revenues dedicated to or controlled by a municipality or county will be used.
(b) The distribution of a project's financial risk, the method of financing for a project, and the tolling structure and methodology must be determined by a committee consisting of the following members:
(1) a representative of the department;
(2) a representative of any local toll project entity, as defined by Section 371.001, for the area in which the project is located;
(3) a representative of the applicable metropolitan planning organization; and
(4) a representative of each municipality or county that has provided revenue or right-of-way as described by Subsection (a).