1.1 	A bill for an act
1.2 	relating to transit; requiring an annual transportation financial review by the 
1.3 	Metropolitan Council;amending Minnesota Statutes 2022, section 473.13, by 
1.4 	adding a subdivision.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2022, section 473.13, is amended by adding a subdivision 
1.7 	to read:
1.8 		Subd. 6.Transportation financial review. (a) By April 1 annually, the council must 
1.9 	prepare and submit a financial review in consultation with the commissioner of management 
1.10 	and budget that details revenue and expenditures for the transportation components under 
1.11 	the council's budget. The council must submit the financial review to the chairs and ranking 
1.12 	minority members of the legislative committees and divisions with jurisdiction over 
1.13 	transportation policy and finance.
1.14 	(b) At a minimum, the financial review must identify:
1.15 	(1) the actual revenues, expenditures, transfers, reserves, and balances in each of the 
1.16 	previous four budget years;
1.17 	(2) budgeted and forecasted revenues, expenditures, transfers, reserves, and balances in 
1.18 	the current year and each budget year within the state forecast period;
1.19 	(3) for the most recent completed budget year, a comparison between the budgeted and 
1.20 	actual amounts under clause (1); and
1.21 	(4) for the most recent completed budget year, fund balances for each replacement service 
1.22 	provider under section 473.388.
2.1 	(c) The information under paragraph (b), clauses (1) to (3), must include:
2.2 	(1) a breakout for each transportation funding source identified by the council;
2.3 	(2) a breakout for each transportation operating budget category established by the 
2.4 	council, including but not limited to bus, light rail transit, commuter rail, planning, special 
2.5 	transportation service under section 473.386, and assistance to replacement service providers 
2.6 	under section 473.388; and
2.7 	(3) data for operations, capital maintenance, and transit capital.
2.8 	(d) The financial review must summarize reserve policies, identify the methodology for 
2.9 	cost allocation, and describe revenue assumptions and variables affecting the assumptions.

2.10 	EFFECTIVE DATE; APPLICATION. This section is effective the day following 
2.11 	final enactment and applies in the counties of Anoka, Carver, Dakota, Hennepin, Ramsey, 
2.12 	Scott, and Washington.