Signed by Governor Arnold Schwarzenegger

Vote Smart's Synopsis:

Vote to concur with Senate amendments and pass a bill that appropriates money to the Transportation Debt Service Fund for the payment of bond debts.

Highlights:

-Establishes the Transportation Debt Service Fund (Sec. 1). -Requires money in the fund to be dedicated to payment of debt on bonds issued pursuant to the following acts (Sec. 1):

-The Clean Air and Transportation Improvement Act of 1990; -The Passenger Rail and Clean Air Bond Act of 1996; -The Seismic Retrofit Bond Act of 1996; -The Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006; and -The Safe, Reliable High-Speed Passenger Train Bond Act for 21st Century.

-Requires the General Fund to be used to pay the balance of debts if the Transportation Debt Service Fund is insufficient (Sec. 1) -Authorizes the Director of Finance to reimburse the General Fund for up to $339 million for the cost of debts during fiscal year 2007 in the following amounts (Sec. 1):

-$144 million for the Seismic Retrofit Bond Act of 1996; -$124 million for the Clean Air and Transportation Improvement Act of 1990; and -$71 million for the Passenger Rail and Clean Air Bond Act of 1996.

-Authorizes the Director of Finance to reimburse the General Fund to offset the cost of paying debts for transportation-related general obligation bond expenditures in prior fiscal years (Sec. 1). -Appropriates the Transportation Debt Service Funds in the following amounts (Secs. 2 and 4):

-25 percent for the following purposes:
-To the Department of Transportation for bus and passenger rail services (§14035, 14035.5, and 14038); -To the Department of Transportation for funding of public transit capital improvement projects in the state transportation improvement program -To the Department of Transportation for its planning activities not payable from the State Highway Account in the State Transportation Fund, it's mass transportation responsibilities, and its assistance in regional transportation planning; -To the Department of Transportation for allocation by the director to the Institute of Transportation Studies of the University of California for training and research in public transportation systems engineering and management and coordination with other transportation modes;-To the Highway Commission for its activities not payable from the State Highway Account; -To the Public Utilities Commission for its passenger rail safety responsibilities specified in statute on commuter rail, intercity rail, and urban rail transit lines; and -For transfer to the Transportation Debt Service Fund for current year debt service payments on bonds as follows:
-For the 2009 fiscal year, up to $142 million; and -For the 2010--11 fiscal year, up to $254 million, as an amount equal to monthly debt service paid by the General Fund on any bonds issued pursuant to Proposition 108 (1990) and Proposition 1A (2008), and one-quarter of the monthly debt service paid by the General Fund on any bonds issued pursuant to Proposition 1B (2006);
-37.5 percent for transportation planning agencies, county transportation commissions, and the San Diego Metropolitan Transit Development Board (§99314); -37.5 percent for transportation agencies, county transportation commissions, and the San Diego Metropolitan Transit Development Board (§99313); and -For the 2009 fiscal year, notwithstanding any other provision of this section or any other provision of law, $400 million appropriated in the following amounts:
-50 percent to transportation planning agencies, county transportation commissions, and the San Diego Metropolitan Transit Development Board (§99314); and -50 percent to transportation planning agencies, county transportation commissions, and the San Diego Metropolitan Transit Development Board (§99313).

-Repeals the Mass Transportation Fund, and requires all money in the Mass Transportation Fund to be transferred to the Public Transportation Account (Secs. 6-7). -Appropriates $23 million to the Transportation Debt Service Fund for fiscal year 2011-12, and $12 million for fiscal year 2012-13 (Sec. 9). -Requires $54.17 million to be held in the account for future appropriation by the Legislature after payment of debts each month (Sec. 10). -Appropriates remaining net revenues in the account in the following amounts (Sec. 9):

-44 percent to the State Highway Account to fund projects in the State Transportation Improvement Program, except in the 2010--11 fiscal year, 50 percent shall be transferred; -12 percent to the State Highway Account to fund projects in the State Highway Operation and Protection Program, except in the 2010-11 fiscal year, no revenues shall be transferred; and -44 percent apportioned by the Controller for local street and road purposes, except in the 2010-11 fiscal year, 50 percent shall be transferred for the following purposes:
-50 percent apportioned by the Controller to cities, including a city and county, in the proportion that the total population of the city bears to the total population of all the cities in the state; and -50 percent apportioned by the Controller to counties, including a city and county, according to the following formulas:
-75 percent apportioned among the counties in the proportion that the number of fee-paid and exempt vehicles that are registered in the county bear to the number of fee-paid and exempt vehicles registered in the state; and -25 percent apportioned among the counties in the proportion that the number of miles of maintained county roads in each county bear to the total number of miles of maintained county roads in the state. For the purposes of apportioning funds, any roads within the boundaries of a city and county that are not state highways shall be deemed to be county roads.

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that appropriates money to the Transportation Debt Service Fund for the payment of bond debts.

Highlights:

-Establishes the Transportation Debt Service Fund (Sec. 1). -Requires money in the fund to be dedicated to payment of debt on bonds issued pursuant to the following acts (Sec. 1):

-The Clean Air and Transportation Improvement Act of 1990; -The Passenger Rail and Clean Air Bond Act of 1996; -The Seismic Retrofit Bond Act of 1996; -The Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006; and -The Safe, Reliable High-Speed Passenger Train Bond Act for 21st Century.

-Requires the General Fund to be used to pay the balance of debts if the Transportation Debt Service Fund is insufficient (Sec. 1) -Authorizes the Director of Finance to reimburse the General Fund for up to $339 million for the cost of debts during fiscal year 2007 in the following amounts (Sec. 1):

-$144 million for the Seismic Retrofit Bond Act of 1996; -$124 million for the Clean Air and Transportation Improvement Act of 1990; and -$71 million for the Passenger Rail and Clean Air Bond Act of 1996.

-Authorizes the Director of Finance to reimburse the General Fund to offset the cost of paying debts for transportation-related general obligation bond expenditures in prior fiscal years (Sec. 1). -Appropriates the Transportation Debt Service Funds in the following amounts (Secs. 2 and 4):

-25 percent for the following purposes:
-To the Department of Transportation for bus and passenger rail services (§14035, 14035.5, and 14038); -To the Department of Transportation for funding of public transit capital improvement projects in the state transportation improvement program -To the Department of Transportation for its planning activities not payable from the State Highway Account in the State Transportation Fund, it's mass transportation responsibilities, and its assistance in regional transportation planning; -To the Department of Transportation for allocation by the director to the Institute of Transportation Studies of the University of California for training and research in public transportation systems engineering and management and coordination with other transportation modes;-To the Highway Commission for its activities not payable from the State Highway Account; -To the Public Utilities Commission for its passenger rail safety responsibilities specified in statute on commuter rail, intercity rail, and urban rail transit lines; and -For transfer to the Transportation Debt Service Fund for current year debt service payments on bonds as follows:
-For the 2009 fiscal year, up to $142 million; and -For the 2010--11 fiscal year, up to $254 million, as an amount equal to monthly debt service paid by the General Fund on any bonds issued pursuant to Proposition 108 (1990) and Proposition 1A (2008), and one-quarter of the monthly debt service paid by the General Fund on any bonds issued pursuant to Proposition 1B (2006);
-37.5 percent for transportation planning agencies, county transportation commissions, and the San Diego Metropolitan Transit Development Board (§99314); -37.5 percent for transportation agencies, county transportation commissions, and the San Diego Metropolitan Transit Development Board (§99313); and -For the 2009 fiscal year, notwithstanding any other provision of this section or any other provision of law, $400 million appropriated in the following amounts:
-50 percent to transportation planning agencies, county transportation commissions, and the San Diego Metropolitan Transit Development Board (§99314); and -50 percent to transportation planning agencies, county transportation commissions, and the San Diego Metropolitan Transit Development Board (§99313).

-Repeals the Mass Transportation Fund, and requires all money in the Mass Transportation Fund to be transferred to the Public Transportation Account (Secs. 6-7). -Appropriates $23 million to the Transportation Debt Service Fund for fiscal year 2011-12, and $12 million for fiscal year 2012-13 (Sec. 9). -Requires $54.17 million to be held in the account for future appropriation by the Legislature after payment of debts each month (Sec. 10). -Appropriates remaining net revenues in the account in the following amounts (Sec. 9):

-44 percent to the State Highway Account to fund projects in the State Transportation Improvement Program, except in the 2010--11 fiscal year, 50 percent shall be transferred; -12 percent to the State Highway Account to fund projects in the State Highway Operation and Protection Program, except in the 2010-11 fiscal year, no revenues shall be transferred; and -44 percent apportioned by the Controller for local street and road purposes, except in the 2010-11 fiscal year, 50 percent shall be transferred for the following purposes:
-50 percent apportioned by the Controller to cities, including a city and county, in the proportion that the total population of the city bears to the total population of all the cities in the state; and -50 percent apportioned by the Controller to counties, including a city and county, according to the following formulas:
-75 percent apportioned among the counties in the proportion that the number of fee-paid and exempt vehicles that are registered in the county bear to the number of fee-paid and exempt vehicles registered in the state; and -25 percent apportioned among the counties in the proportion that the number of miles of maintained county roads in each county bear to the total number of miles of maintained county roads in the state. For the purposes of apportioning funds, any roads within the boundaries of a city and county that are not state highways shall be deemed to be county roads.

Full Bill Text