PUBLIC LAW 103-272—JULY 5, 1994 108 STAT. 793 (B) that is unobligated at the end of the 3-year period shall be reapportioned among the States for the next fiscal year, § 5304. Transportation improvement program (a) DEVELOPMENT AND UPDATE. —In cooperation with the State and affected mass transportation operators, a metropolitan planning organization designated for a metropolitan area shall develop a transportation improvement program for the area. In developing the program, the organization shall provide citizens, affected public agencies, representatives of transportation authority employees, other affected employee representatives, private providers of transportation, and other interested parties with a reasonable opportunity to comment on the proposed program. The program shall be updated at least once every 2 years and shall be approved by the organization and the chief executive officer of the State. (b) CONTENTS.— ^A transportation improvement program for a metropolitan area shall include— (1) a priority list of projects and parts of projects to be carried out in each 3-year period after the program is adopted; and (2) a financial plan that— (A) demonstrates how the program can be carried out; (B) indicates resources from public and private sources that reasonably are expected to be made available to carry out the plan; and (C) recommends innovative financing techniques, including value capture, tolls, and congestion pricing, to finance needed projects. (c) PROJECT SELECTION.—(1) Except as provided in section 5305(d)(1) of this title, the State, in cooperation with the metropolitan planning organization, shall select projects in a metropolitan area that involve United States Government participation. Selection •' shall comply with the transportation improvement program for the area. (2) A transportation improvement program for a metropolitan area shall include— (A) projects within the area that are i»*oposed for financing under this chapter and title 23 and that are consistent with the long-range plan developed under section 5303(f) of this title; and (B) a project or an identified phase of a project only if full financing reasonably can be anticipated to be available for the project in the period estimated for completion. (d) NOTICE AND COM;MENT.— Before approving a transportation improvement program, a metropolitan planning organization shall provide citizens, affected public agencies, representatives of transportation agency employees, private providers of transportation, and other interested parties with reasonable notice and an opportunity to comment on the proposed program. (e) REGULATC«IY PROCEEDING. —Not later than June 18, 1992, the Secretary of TransportaticHi shall begin a regulatory proceeding to conform review requirements for mass transportation projects under the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.) to comparable requirements under that Act applicable to highway projects. This section and sections 5303, 5305, and 5306 of this title do not affect the applicability of the Act to
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