Changes the legal designation of each "regional transit authority" to "regional transportation authority," and any existing regional transit authority shall, within ninety days of the effective date of this act, by resolution of its board change its legal designation to a "regional transportation authority."

Authorizes a regional transportation authority to be created in an area within the boundaries of a county or counties.

Requires a regional transportation authority to prepare, adopt, and implement a comprehensive and integrated corridor-based multimodal regional mobility investment plan that plans, prioritizes, and finances improvements to highways, streets, roads, and public transportation that will serve the residents of the region, and to amend the plan to meet changed conditions and requirements.

Provides that a regional transportation authority shall work cooperatively, and in a coordinated fashion, with the department of transportation's administrative region serving the authority area, and with the regional transportation planning organization serving the authority area. The authority shall establish a negotiated process with the department of transportation, and other applicable local planning offices, that ensures the respective agencies are planning for a comprehensive and integrated corridor-based multimodal regional transportation system.

Modifies relevant tax provisions concerning regional transportation authorities.

Eliminates regional transportation investment districts and repeals appropriate provisions.