High-speed rail.

Existing law, the California High-Speed Rail Act, creates the High-Speed Rail Authority to develop and implement a high-speed rail system in the state, with specified powers and duties. Existing law, pursuant to the Safe, Reliable High-Speed Passenger Train Bond Act for the 21st Century, approved by the voters as Proposition 1A at the November 4, 2008, general election, provides for the issuance of $9.95 billion in general obligation bonds for high-speed rail and related purposes. This bill would require the authority to annually adopt a 6-year high-speed train program, as specified, for submission to the chairs of the appropriate policy and budget committees of the Legislature. The bill would also require the authority to annually prepare and submit to the chairs of those committees of the Legislature a report including, among other things, a description of the progress made on the program and a detailed financial plan to pay for construction of the high-speed train network.