The board of Los Angeles County Metropolitan Transportation Authority on Thursday approved a plan for a new transit tax that would bring in more than $120 billion for projects, including several in the Valley.

Metro released a draft copy of the plan a week ago. Now that that board has approved it, a two-month comment period begins on the plan, which lists 88 projects over a 40-year period.

As reported earlier by the Business Journal, the plan includes funding for building a light rail line along Van Nuys Boulevard, improving the Orange Line busway and connecting the Valley to the Westside with a tunnel through the Sepulveda Pass. The plan has the support of the Valley Industry & Commerce Association and San Fernando Valley Council of Governments.

The projects would be funded by Measure R, a half-cent sales tax dedicated for transportation projects that will appear on ballots in November for voter approval.

The first public hearing for comments on the plan is scheduled for April 5 in Agoura Hills.