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AB-522 Transportation: bond funds.(2009-2010)

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CALIFORNIA LEGISLATURE— 2009–2010 REGULAR SESSION

Assembly Bill
No. 522

Introduced  by  Assembly Member Blumenfield

February 25, 2009

An act to add Section 8879.501 to the Government Code, relating to transportation.


LEGISLATIVE COUNSEL'S DIGEST


AB 522, as introduced, Blumenfield. Transportation: bond funds.
Existing law, the Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006, establishes the Highway Safety, Traffic Reduction, Air Quality, and Port Security Fund of 2006 in the State Treasury and requires the proceeds of bonds deposited in the fund to be used for specified mobility, safety, and air quality improvements.
This bill would require the California Transportation Commission to ensure that bond funds previously committed to a project from the Highway Safety, Traffic Reduction, Air Quality, and Port Security Fund of 2006 remain available to the sponsoring agency of the project for another qualifying project, if funds from any federal economic recovery legislation enacted in 2009 are used to fund the project, as specified.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 8879.501 is added to the Government Code, to read:

8879.501.
 To the extent that any funds from any federal economic recovery legislation enacted in 2009 are used to fund any project to which bond funds were previously committed under Section 8879.23 or this chapter, with the effect of displacing the need for those bond funds on the project, the Commission shall ensure that the sponsoring agency of that project is entitled to use the same amount of bond funds on another qualifying project within its jurisdiction.