Directs the Public Works Board to rank its list of local government projects recommended to the legislature for funding, based on: achieving balanced distribution of funds by geography, system type, and jurisdiction type; whether the project is ready to proceed; whether the project would affect the health and safety of a large percentage of the affected community's population; whether the project is located in an area of high unemployment; whether the project consolidates or regionalizes systems; whether the system is being well-managed for long-term sustainability; and whether the project promotes the sustainable use of resources and environmental quality.   Official Text and Analysis.

Provides that the Board must submit the ranked list of public works projects recommended for funding to legislative fiscal committees annually, rather than biennially. The Board must consider 11, rather than seven, factors in assigning the numerical ranking. These factors may be considered in any order, rather than in descending order of priority. The Board must document the numerical ranking assigned to each project, rather than the numerical rating assigned to each evaluation factor.