CS FOR SENATE BILL NO. 152(TRA)

• Creates the Regional Transit Authority Act allowing one or more Alaska municipalities to establish regional transit authorities as public corporations by ordinance to provide public transportation services.

• Permits authorities to acquire, manage, and operate transportation projects; issue bonds; charge fees; exercise eminent domain; and enter into contracts with federal, state, and private entities.

• Establishes that authorities are separate legal entities not liable for state or municipal taxes; bonds issued are payable only from authority revenue and do not pledge state or municipal credit.

• Provides authorities with power to sue, acquire property, hire employees, maintain insurance, and regulate land use within their boundaries; requires annual financial audits and reports to participating municipalities.

• Allows municipalities to withdraw from an authority by ordinance and requires dissolution procedures to distribute remaining assets proportionally to participating municipalities after satisfying outstanding bond obligations.