Overall New Starts project ratings.

(a) [Reserved] (b) FTA will assign overall project ratings to each proposed project of “high,” “medium-high, “medium,” “medium-low,” or “low” as required by 49 U.S.C. 5309(g)(2)(A). (1) These ratings will indicate the overall merit of a proposed New Starts project at the time of evaluation. (2) Ratings for individual projects will be developed upon entry into engineering and prior to an FFGA. Additionally, ratings may be updated while a project is in engineering if the project scope and cost have changed materially since the most recent rating was assigned. (c) These ratings will be used to: (1) Approve or deny advancement of a proposed project into engineering; (2) Approve or deny projects for ESWAs and FFGAs; and (3) Support annual funding recommendations to Congress in the Annual Report on Funding Recommendations required by 49 U.S.C. 5309(o)(1). (d) [Reserved]