Road Maintenance and Rehabilitation Account: apportionment of funds: accrued interest.

Existing law creates the Road Maintenance and Rehabilitation Program to address deferred maintenance on the state highway system and the local street and road system. Existing law provides for the deposit of various funds, including revenues from certain fuel taxes and vehicle fees, for the program in the Road Maintenance and Rehabilitation Account. Existing law requires funds available for the program to be allocated for various specified purposes and requires the remaining funds available for the program to be continuously appropriated 50% for allocation to the Department of Transportation for maintenance of the state highway system or for the State Highway Operation and Protection Program and 50% for apportionment to cities and counties by the Controller pursuant to a specified formula. This bill would continuously appropriate interest earnings derived from revenues deposited in the Road Maintenance and Rehabilitation Account to the department for maintenance of the state highway system or for purposes of the State Highway Operation and Protection Program.