(a) An evaluation of a public transportation system, that provided more than one million revenue vehicle, car or nautical miles in local revenue service or carried more than one million revenue passengers during the preceding State fiscal year, that applies for a service payment, will be performed annually by the Department of Transportation. Using the financial and operational data submitted as well as the plans of the public transportation system, and any other information deemed necessary, the Department will review the economy, efficiency and effectiveness of operators.

(b) The Department will report its findings in a public report. The commissioner of Transportation will submit copies of such performance evaluations to the chairman of the Senate Finance Committee and the chairman of the Assembly Ways and Means Committee concurrent with submission to the Director of the Budget. The evaluation will include performance indicators covering the economy, efficiency, and effectiveness of public transportation systems. The Commissioner may request any public transportation system, to develop plans to address performance deficiencies.