MN SF3384

Amends Minnesota Statutes 2014, section 473.408 to establish a mandatory fare revenue schedule for Metro Transit systems.

Requires annual fare revenues to equal specified percentages of total operating costs: 30% by December 31, 2016; 35% by 2017; 40% by 2018; 45% by 2019; and 50% by 2020 and thereafter.

Imposes a penalty equal to half of any revenue shortfall if the council fails to meet annual targets, with penalties paid to the commissioner of management and budget by March 1 following the shortfall year.

Directs the commissioner to deposit all penalty payments into the trunk highway fund.

Adds compliance with the fare revenue schedule as an objective of Metro Transit's fare policy, effective the day following final enactment.