140.5.
(a) The Water Storage and Conveyance Fund is hereby established in the State Treasury to help expand and restore water conveyance and storage capacity throughout California. The department shall administer the fund.(b) Until July 1, 2030, all moneys deposited in the fund shall be expended, upon appropriation by the Legislature, for projects that support subsidence repair and reservoir storage costs, including environmental planning, permitting, design, and construction and necessary road and bridge upgrades required to accommodate capacity improvements.
(c) Moneys expended from the fund for each
individual project specified in subdivision (d) shall not exceed one-third of the total
cost of each individual project. The total amount expended from the fund for all of the projects specified in subdivision (d) shall not exceed three billion one hundred eighty-five million dollars ($3,185,000,000).
(d) The department shall expend from the fund, upon appropriation by the Legislature, all of the following, consistent with subdivision (b):
(1) Up to the sum of two hundred thirty million dollars ($230,000,000) for a grant to the Friant Water Authority to restore the capacity of the Friant-Kern Canal.
(2) Up to the sum of one hundred forty million dollars ($140,000,000) for a grant to the San Luis and Delta-Mendota Water Authority to restore the capacity of the Delta-Mendota Canal.
(3) Up to the sum of one hundred forty-five million dollars
($145,000,000) to restore the capacity of the San Luis Field Division of the California Aqueduct.
(4) Up to the sum of seventy million dollars ($70,000,000) to restore the capacity of the San Joaquin Division of the California Aqueduct.
(5) Up to the sum of two billion six hundred million dollars ($2,600,000,000) to complete funding for the construction of the Sites Reservoir.
(e) This section shall become inoperative on July 1, 2030, and, as of January 1, 2031, is repealed.