187039.
(a) The Inspector General shall conduct an independent review of the economic and financial justification for the project, including reviewing and assessing the benefit-cost analysis submitted by the High-Speed Rail Authority to the United States Department of Transportation in April 2023 to support the grant application for the Federal-State Partnership for Intercity Passenger Rail Grant (FSP) Program.(b) Before the Legislature recommits to the full Phase 1 system, as that term is described in paragraph (2) of subdivision (b) of Section 2704.04 of the Streets and Highways Code, the Inspector General shall conduct an independent review of the ability of the project to operate without subsidy, as required by the Safe, Reliable High-Speed Passenger Train Bond Act for the 21st Century (Chapter 20 (commencing with Section 2704) of Division 3 of the Streets and Highways Code).
(c) The Inspector General shall consult with industry experts, which may include the Institute for Transportation Studies at the University of California, for the reviews described in subdivisions (a) and (b).