The proposed bill, if enacted, would introduce several significant updates to current statutes regarding light rail expansion in Maricopa County. It mandates the Auditor General to conduct a comprehensive feasibility review of light rail expansion by December 31, 2027, in collaboration with an independent transportation research entity. The review must include various analyses, such as cost comparisons between light rail and other transit modes, environmental impacts, long-term economic benefits, and the effects on local businesses during construction. The report generated from this review would be submitted to key state officials and local leaders, ensuring transparency and accountability in the decision-making process.

Additionally, the bill would repeal existing prohibitions on state participation in light rail construction, allowing for potential state funding and support for such projects. It defines "light rail construction" and "state participation," clarifying the scope of state involvement. The act is set to be repealed after June 30, 2028, unless further legislative action is taken. Overall, these changes aim to provide a structured approach to evaluating light rail expansion while considering various factors that impact the community and the environment.