The newly proposed route would provide a link between the University Hospital Limerick with the University of Limerick.
Under the proposal, new routes would also be introduced to Ennis Road, Dock Road, and the University of Limerick’s north campus.
In addition, improved Sunday bus services were included in the proposal.
The new proposal will be subject to public consultation, with information events set to take place between 7-9 March.
The new services will begin rolling out from 2025.
NTA Chief Executive Anne Graham said: "As the third largest city in the State, Limerick is the economic engine of the midwest and has an exciting future ahead. Public transport can play a pivotal role in transforming the city.
"Through BusConnects Limerick, we want to make it easier for people to get around by reducing congestion, and to make this place more attractive for people who live here, work here, or who want to visit here.
"The redesign of the bus network, one of the key pillars of BusConnects Limerick, will ensure we move towards a more sustainable and inclusive public transport network that provides a viable alternative to the car."
Stephen Kent CEO of Bus Éireann said: "Change is already underway with National Transport Authority investment seeing Limerick switching to a fully electric and hybrid fleet by the end of this year, a revamped depot and new bus station at Colbert improving customer experience.
"While the impact of current works in the city is challenging, the long-term benefit to the city and to the reliability and punctuality of services by reducing congestion, our major operational challenge, will be substantial.
"Our experience is that when investment is made into increasing frequency and expanding bus services, passenger numbers grow markedly and rapidly, often by up to 70% within a year."