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 project options, such as arterial bus rapid transit and regular route bus service, and must assess factors like 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 online and reporting to legislative committees.

Additionally, the bill establishes a transition provision for guideways that have already selected a locally preferred alternative but are not yet in revenue operation. The commissioner and the Metropolitan Council must perform a cost-benefit analysis for these projects as well, following the same requirements outlined in the new section. The bill is effective the day after final enactment and applies to specific counties in Minnesota, excluding the Gold Line bus rapid transit project from its provisions.