People in Stamford, Bourne and the Deepings are being asked for their views on the creation of a Mayoral Combined Authority for Lincolnshire with an elected mayor.
Launched on Monday, the consultation will run for six weeks.
Ten local authorities, from the Humber to the Wash, have joined together to devolve some powers, responsibilities and funding from Government to Greater Lincolnshire.
This means more decisions on public services would be made locally, rather than nationally. If all 10 councils, including South Kesteven District Council, sign up to this, a Mayoral Combined Authority would be established.
The authority would be made up of elected councillors from the 10 councils and a representative from the Greater Lincolnshire Local Enterprise Partnership. The authority would be chaired by the mayor, chosen by residents.
The combined authority would not replace existing councils or affect the services they already provide. It would only be responsible for the new powers and funding devolved from central Government, which include transport, housing, skills-training and flood risk management.
Under the deal an additional £450m over the next 30 years (£15m a year) would be provided for investment in housing and infrastructure.
It could also help to develop a better approach to skills training provision and criminal justice services in the area.
The consultation also seeks views from the community on whether, if a Mayoral Combined Authority was established, they would want to see the role of mayor combined with that of Police and Crime Commissioner if it reduced administrative costs.
For the roles to be combined there would need to be a change made by Government to the Police and Crime Commissioner boundaries, as the area is served by both the Lincolnshire and Humberside Commissioners.
Visit www.lincolnshire.gov.uk/greaterlincs to have your say or pick up a consultation form from libraries or council offices. The consultation closes on August 8 at 5pm.
Responses will be reviewed before each council formally agrees the deal later this year.