Metropolitan planning organizations (MPOs) as defined under 23 U.S.C. § 134 and § 8 of the Federal Transit Act shall be authorized to issue contracts for studies and to develop and approve transportation plans and improvement programs to the full extent permitted by federal law. The Commonwealth Transportation Board, the Department of Transportation, and the Department of Rail and Public Transportation shall develop and implement a decision-making process that provides MPOs and regional transportation planning bodies a meaningful opportunity for input into transportation decisions that impact the transportation system within their boundaries. Such a process shall provide the MPOs and regional transportation planning bodies with the Commonwealth Transportation Board’s priorities for development of the Six-Year Improvement Program developed pursuant to § 33.2-214 and an opportunity for them to identify their regional priorities for consideration.