Greenhouse Gas Reduction Fund: funding conditions: high-speed rail.

Plain English Breakdown

The bill summary text does not provide details on how much money will be available or what specific projects might get funding.

Greenhouse Gas Reduction Fund: High-Speed Rail Funding

This law changes how money from a special fund can be spent on high-speed rail projects outside the Merced to Bakersfield segment.

What This Bill Does

• Changes rules about spending money from the Greenhouse Gas Reduction Fund for high-speed rail projects.
• Allows the High-Speed Rail Authority to spend more money on early works and partnership agreements outside the Merced to Bakersfield segment.
• Requires that any new spending must not delay the completion of the Merced to Bakersfield segment.

Who It Names or Affects

• The High-Speed Rail Authority
• People who work on or benefit from high-speed rail projects in California

Terms To Know

Greenhouse Gas Reduction Fund

A fund that collects money to help reduce greenhouse gases, which are gases that cause climate change.

High-Speed Rail Authority

An organization in California responsible for planning and building a high-speed rail system.

Limits and Unknowns

• The bill does not specify how much money will be available.
• It is unclear what specific projects might get funding from this change.

Official Summary Text

SB 1411, as amended, Stern.
Greenhouse Gas Reduction Fund: funding conditions: high-speed rail.
Existing law creates the High-Speed Rail Authority to develop and implement a high-speed rail system in the state. Existing law requires moneys collected by the State Air Resources Board from the auction or sale of certain allowances as part of a market-based compliance mechanism to be deposited into the Greenhouse Gas Reduction Fund and continuously appropriates a portion of the moneys in the fund for various purposes, including a specified portion to the authority for certain purposes. Existing law prohibits the authority from entering into new funding commitments with those moneys for activities outside of the Merced to Bakersfield segment, until June 30, 2030, or when that segment is fully funded, whichever is sooner. Notwithstanding that prohibition, existing law authorizes the authority to enter into new funding commitments outside of the Merced to Bakersfield segment
for certain purposes, including
for additional activities, not to cumulatively exceed $500,000,000, that maximize the efficiency of delivering the project, as specified.
This bill would
revise and recast that authorization to instead
authorize the authority to enter into new funding commitments with the above-described moneys outside of the Merced to Bakersfield segment in any amount for
additional activities that
activities related to early works, as defined, and for projects developed through public partnership agreements or public-private partnership agreements, subject to the requirements that those funding commitments
maximize the
efficiency of delivering the
project,
project and do not delay the completion of the Merced to Bakersfield segment,
as specified. By expanding the purposes for which continuously appropriated moneys may be used, the bill would make an appropriation.

Current Bill Text

Download Bill PDF