49 U.S.C. § 305 — Transportation investment standards and criteria

(a) Subject to sections 301–304 of this title, the Secretary of Transportation must create standards and criteria for evaluating, on economic grounds, every proposal to spend U.S. government money on transportation facilities and equipment. The Secretary updates these standards based on experience, and once Congress approves them, must apply them. These standards don't apply to (1) an agency buying transportation facilities or equipment for its own use; (2) an inter-oceanic canal outside the 48 contiguous states; (3) defense features the Department of Defense requires in civil air, sea, or land transportation design; (4) foreign assistance programs; (5) water resources projects; or (6) grant-in-aid programs authorized by law. (b) A federal department, agency, or instrumentality writing a survey, plan, or report about a proposal covered by the Secretary's standards must (1) prepare it using those standards and information from the Secretary about projected transportation growth and traffic, the relative efficiency of transportation modes, available transportation services, and the proposal's likely effect on other transportation modes and the regional and national economy; (2) coordinate the survey, plan, or report with the Secretary (including the Secretary's views) and, as appropriate, with other federal, state, and local agencies (including their views); and (3) send the finished survey, plan, or report to the President for a decision under the applicable law and procedure.