High-Speed Rail Authority: high-speed train operation.

Existing law creates the High-Speed Rail Authority with specified powers and duties relative to the development and implementation of a high-speed train system. 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, statewide general election, provides for the issuance of $9.95 billion for high-speed train capital projects and other associated purposes. The bond act requires the authority to expend the proceeds of the bond act pursuant to certain planning and reporting requirements, which require the authority to approve that the corridor or usable segment would be suitable and ready for high-speed train operations. This bill would provide for the purposes of a certain required funding plan that a corridor or usable segment thereof would be "suitable and ready for high-speed train operation" if specified conditions are met. The bill would also require the authority to include in its business plan and project update report information describing the use of these bond proceeds demonstrating that the investments made are consistent with the authority's current business plan and advance the development of the Phase I blended system as described in the business plan.