HF 3998 Summary

• Establishes metropolitan area transit stability account within transit assistance fund to receive revenues from local option sales tax.

• Requires Metropolitan Council to adopt annual regional transit system investment plan by December 15 describing operating and capital investments over at least 10 years, with specific requirements for revenue projections, cost-benefit analysis, and prioritization criteria.

• Requires Metropolitan Council to submit transit funding recommendations to legislature annually, listing eligible uses including bus operations, capital facilities, intermodal stations, park and ride facilities, and bus rapid transit/rail transitways.

• Creates recommendations selection committee consisting of county commissioners, city representatives, and council chair to evaluate transit projects and provide prioritized funding list to council.

• Amends local option sales tax authorization to one-quarter of one percent on retail sales and $20 motor vehicle excise tax, with revenues allocated first to debt service, then to Metropolitan Council for transitway maintenance, and remainder to transit stability account.