CA AB2553

Increases the frequency of service interval for "major transit stop" from 15 minutes to 20 minutes or less for intersections of two or more major bus routes during morning and afternoon peak commute periods.

Requires housing developments located within a transit priority area and near a major transit stop to receive a lower vehicular traffic impact fee rate that reflects reduced automobile trip generation.

Prohibits local agencies from imposing land dedication requirements on housing developments in transit priority areas for roadway widening to mitigate vehicular traffic impacts or achieve traffic level of service standards.

Allows exceptions to the land dedication prohibition for housing developments outside transit priority areas with 500+ feet of linear street frontage, and for public safety features or other public improvements supported by substantial evidence.

Defines "major transit stop" to include existing rail or bus rapid transit stations, ferry terminals with bus or rail service, major bus route intersections with 20-minute frequency or less, and stops included in regional transportation plans.