(a) For purposes of this section, the following terms have the meanings given:
(1) "commissioner" means the commissioner of transportation;
(2) "guideway" means a form of transportation service provided to the public on a regular and ongoing basis, that operates on exclusive or controlled rights-of-way or rails in whole or in part, and includes each line for intercity passenger rail, commuter rail, light rail transit, streetcars, and bus rapid transit; and
(3) "local unit of government" means a county, statutory or home rule charter city, town, or other political subdivision including, but not limited to, a regional railroad authority or joint powers board.
(b) For purposes of this section, "sources of funds" includes, but is not limited to, money from federal aid, state appropriations, the Metropolitan Council, special taxing districts, local units of government, fare box recovery, and nonpublic sources.
(c) For purposes of this section, "budget activity" includes, but is not limited to, environmental analysis, land acquisition, easements, design, preliminary and final engineering, acquisition of vehicles and rolling stock, track improvement and rehabilitation, and construction.
A state agency or local unit of government that submits a request to the legislature to obtain state funds for a guideway project shall, as part of the request, provide a summary financial plan for the project that presents the following information as reflected by the data and level of detail available in the latest phase of project development:
(1) capital expenditures and funding sources for the project, including expenditures to date and total projected or estimated expenditures, with a breakdown by committed and proposed sources of funds; and
(2) estimated annual operations and maintenance expenditures for the project, with a breakdown by committed and proposed sources of funds.
(a) By January 15, 2012, and by November 15 in every odd-numbered year thereafter, the commissioner shall prepare, in collaboration with the Metropolitan Council, and submit a report electronically to the chairs and ranking minority members of the legislative committees with jurisdiction over transportation policy and finance concerning the status of guideway projects (1) currently in study, planning, development, or construction; (2) identified in the transportation policy plan under section 473.146; or (3) identified in the comprehensive statewide freight and passenger rail plan under section 174.03, subdivision 1b.
(b) At a minimum, the report must include, for each guideway project:
(1) a brief description of the project, including projected ridership;
(2) a summary of the overall status and current phase of the project;
(3) a timeline that includes (i) project phases or milestones; (ii) expected and known dates of commencement of each phase or milestone; and (iii) expected and known dates of completion of each phase or milestone;
(4) a brief progress update on specific project phases or milestones completed since the last previous submission of a report under this subdivision; and
(5) a summary financial plan that identifies, as reflected by the data and level of detail available in the latest phase of project development and to the extent available:
(i) capital expenditures, including expenditures to date and total projected expenditures, with a breakdown by committed and proposed sources of funds for the project;
(ii) estimated annual operations and maintenance expenditures reflecting the level of detail available in the current phase of the project development, with a breakdown by committed and proposed sources of funds for the project; and
(iii) if feasible, project expenditures by budget activity.
(c) The report must also include a systemwide capacity analysis for investment in guideway expansion and maintenance that:
(1) provides a funding projection, annually over the ensuing ten years, and with a breakdown by committed and proposed sources of funds, of:
(i) total capital expenditures for guideways;
(ii) total operations and maintenance expenditures for guideways;
(iii) total funding available for guideways, including from projected or estimated farebox recovery; and
(iv) total funding available for transit service in the metropolitan area; and
(2) evaluates the availability of funds and distribution of sources of funds for guideway investments.
(d) The projection under paragraph (c), clause (1), must be for all guideway lines for which state funds are reasonably expected to be expended in planning, development, construction, or revenue operation during the ensuing ten years.
(e) Local units of government shall provide assistance and information in a timely manner as requested by the commissioner or council for completion of the report.