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.