[ Text of section added by 2008, 86, Sec. 6 effective April 17, 2008.]
Section 19½. (a) The executive office of transportation and public works shall utilize life-cycle cost modeling for all projects. Life-cycle costs shall mean all relevant costs of a transportation asset's lifespan including, but not limited to, planning, study, design, purchase or lease, operation, maintenance, repair, replacement and disposal. The executive office shall utilize life-cycle cost modeling during the project planning and selection process for all of its constituent agencies, as defined in subsection (b) of section 19.
(b) Life-cycle cost information shall be presented as part of the public disclosure process in all project planning documents in equal proportion to initial delivery cost estimates. Project planning shall include the identification of funding to minimize life-cycle costs throughout the life of each asset.