HB 2894 - DIGEST

     Requires an authority to prepare a report that will address, but not be limited to: Project delivery schedules and service implementation outlined in the plan approved by voters; projected future revenue and expenditures over the life of the plan; the budget forecast over the life of the plan; and project delivery and service start-up dates.

     Directs the authority to submit its report to the governor, the transportation committees of the state legislature, and the county councils for each county in which the authority is located.  After receipt of the plan, the legislative transportation committee shall as quickly as practicable evaluate the report for content and accuracy and hold at least one public hearing on the report.  After evaluating the report and conducting the public hearing or hearings, the committee shall make a finding as to whether the report and projected project and service delivery schedule and financial plan is attainable.  A resolution adopted by the committee finding that the report is acceptable and accurate constitutes acceptance of the report.

     Provides that, until the report is accepted by the legislative transportation committee, a regional transit authority shall immediately cease and desist from entering into new contracts for purchase of right of way or construction of facilities for any light rail system development that is part of the plan adopted by the voters.