Relating to intergovernmental entity funding of transit operations; and prescribing an effective date.

Authorizes certain intergovernmental entities created to operate, maintain, repair and modernize nonrail transportation facilities to impose property taxes in support of those purposes, or issue general obligation bonds supported by property tax revenues, if entity obtains approval of governing bodies of affected cities and counties in entity territory. Permits intergovernmental entity to divide territory of entity into zones in which different tax rates are to be imposed, if different tax rates are based upon qualitative differences in services provided by entity. Requires intergovernmental entity to obtain voter approval of measures authorizing bond issuance, imposing taxes or establishing tax zones within entity territory. Directs entity to establish transit advisory councils, maintain communication with affected local governments and perform specified annual reporting and auditing. Takes effect on 91st day following adjournment sine die.