The bill proposes an appropriation of $75,000,000 from the bond proceeds fund to the Metropolitan Council for capital improvements related to bus rapid transit. This funding will cover various aspects such as real property acquisition, predesign, design, engineering, and construction of arterial bus rapid transit projects, including necessary utility relocations and facility enhancements. The Metropolitan Council is tasked with allocating these funds based on specific criteria outlined in their transitway capital improvement plan, which includes factors like project readiness, ridership potential, and coordination with other major projects.

Additionally, the bill authorizes the commissioner of management and budget to sell and issue state bonds up to the amount of $75,000,000 to finance the appropriated funds. The bond issuance will follow the procedures established by Minnesota Statutes and the Minnesota Constitution. The provisions of this bill will take effect the day after it is enacted.