; and (II) have a benefit-cost ratio greater than or equal to 1; and (v) for the preceding 10-year period, estimate the average annual percentage of the total expenditures made for highway and bridge capital projects by all levels of government that was derived from Federal funds. . (b) Report on public transportation investment needs Section 308(e) of title 49, United States Code, is amended to read as follows: (e) Report on public transportation investment needs (1) In general Not later than July 31, 2018, and July 31 of every second year thereafter, the Secretary shall submit to the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a report that describes— (A) the current conditions and performance of public transportation systems in the United States, including the state of good repair backlog among existing public transportation systems; and (B) the future needs of public transportation systems in the United States. (2) Comparisons A report under this subsection shall include all information necessary to relate and compare the conditions and performance measures used in the previous biennial reports to the conditions and performance measures used in the current report. (3) Contents In developing a report under this subsection, the Secretary shall— (A) prepare a complete assessment of public transportation systems in the United States; (B) for the succeeding 20-year period, estimate the future capital requirements for public transportation systems in the United States at specified levels of service; (C) for the succeeding 20-year period, estimate the annual capital expenditures necessary to fund capital projects in the United States that have a benefit-cost ratio greater than one and are necessary— (i) to achieve and maintain a state of good repair for public transportation systems; and (ii) to support the long-term trend rate of public transportation ridership growth, plus an additional 0.3 percent