Bus rapid transit capital improvements bond issue and appropriation

This bill authorizes the state of Minnesota to issue up to $75 million in bonds to fund capital improvements for arterial bus rapid transit projects. The funds will be distributed to the Metropolitan Council, which must allocate the money based on specific criteria such as project readiness, potential ridership, and alignment with existing transportation plans. The legislation covers costs for acquiring real property, designing and engineering the transitways, relocating utilities, and constructing the necessary facilities. Once passed, the commissioner of management and budget will sell the bonds to generate the required capital for these transportation enhancements.