The listing of eligible school building projects submitted pursuant to § 10-283 shall be reviewed by a committee consisting of the chairpersons and ranking members of the joint standing committees of the General Assembly having cognizance of matters relating to appropriations and the budget of state agencies, finance, revenue and bonding and education. The listing of eligible projects by category shall be submitted to said committee prior to December fifteenth annually to determine if said listing is in compliance with the categories described in subsection (a) of § 10-283, and standards established in regulations adopted pursuant to § 10-287c. The committee may modify the listing. Such modified listing shall be in compliance with such standards and categories. On or after January first annually, and prior to February first annually, the committee shall submit the approved or modified listing of projects to the Governor and the General Assembly.