"Minnesota Regulated Public Transit Utilities Act"; providing for the regulation of public transit utilities for coordinated, cost +effective and competitive multimodal transit services and infrastructure +development and operation purposes, defining regulated public transit utility; +subjecting public transit utilities to regulation by the public utilities +commission as public utilities; dividing the state into exclusive geographic +service areas or corridors for transit service provision purposes; providing for a +petition to the PUC to be designated as a regulated public transit utility, +specifying certain qualification requirements; granting petitioners the right to+ provide exclusive transit services within the service area or corridor +without direct competition from publicly subsidized transit services; requiring the +PUC to establish procedures and standards for exclusive service rights +competition, authorizing revocation or suspension of exclusivity grants upon +failure of the utility to meet certain obligations; requiring the commissioner of transportation (DOT) to monitor the provision of transit services and+ the development of regulated public transit utilities and biennially +report to the legislature (ra)