Bill > SB0692

This bill amends the Regional Transit Authority Act to modify provisions related to revenue generation and financial operations for regional transit authorities. The bill allows transit authorities to raise revenues through multiple sources including fares, government grants, property sales, assessments, motor vehicle registration taxes, and investment earnings. It specifies that any assessment on a public transit region must be approved by the board and a majority of voters at a general election, with ballot language clearly stating the assessment rate, duration, purpose, and whether it is a renewal or new assessment. The bill requires that at least 85% of money raised in each member jurisdiction through assessments or vehicle registration taxes must be spent on transportation routes within that jurisdiction. Additionally, the bill mandates that transit authorities submit an annual asset management plan for revenue vehicles and facilities to the department and provide annual reports to member jurisdictions detailing service costs and revenues. The amendments primarily clarify language and improve financial transparency for regional transit authorities. The bill is set to take effect on January 1, 2027, contingent upon the passage of a related Senate bill.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0692