This bill mandates a cost-benefit analysis for proposed guideways in Minnesota, requiring the responsible governmental unit to conduct the analysis before selecting a locally preferred alternative. The analysis must include various factors such as estimated ridership, vehicle capacity, revenue, maintenance costs, economic benefits, and environmental impacts. The findings must be submitted to the commissioner of transportation and the Metropolitan Council, who are also responsible for posting the results on their respective websites and reporting to the legislative auditor and relevant legislative committees.

Additionally, the bill outlines a transition process for guideways that have already selected a locally preferred alternative but are not yet in revenue operation. The same cost-benefit analysis requirements will apply to these projects, ensuring consistency in evaluating the potential impacts of guideway projects across the specified counties. The bill is effective the day after final enactment and specifically excludes the Gold Line bus rapid transit project from its provisions.