HF 4308 Summary

• Increases the financial assistance base allocation percentage for replacement transit service providers from 3.74% to 6.25% of total state revenues generated from taxes under chapter 297B in the current fiscal year

• Maintains the requirement that the council must grant financial assistance if the replacement service meets the recipient's needs at least as efficiently and effectively as the council's service

• Applies effective January 1, 2023, and applies only to financial assistance provided on and after that date in Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington counties

• Preserves existing calculation methodology that multiplies the percentage by ratios based on 2001 transit grants/levies and 2001-2006 taxable market value changes

• Requires payments to be made from the metropolitan area transit account under section 16A.88