The Safe, Reliable High-Speed Passenger Train Bond Act for the 21st Century: project funding.

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 train capital projects and other associated purposes. Existing law makes $950 million of the proceeds of those bonds available for capital improvements to intercity and commuter rail lines and urban rail systems that provide direct connectivity to the high-speed train system and its facilities, or that are part of the construction of the high-speed train system, as specified, or that provide capacity enhancements and safety improvements. Existing law requires the California Transportation Commission to allocate those funds to eligible recipients, as defined, and to develop guidelines to implement those provisions. This bill would appropriate $523,400,000 from the High-Speed Passenger Train Bond Fund to the Department of Transportation for allocation by the California Transportation Commission as provided for in specified guidelines adopted by the commission.