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 and capital costs, economic benefits, construction timelines, 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. For these projects, a similar cost-benefit analysis must be conducted by the commissioner and the Metropolitan Council, with the same reporting requirements as outlined for new projects. The provisions of this bill will take effect the day after final enactment and will apply to specific counties in Minnesota, excluding the Gold Line bus rapid transit project.