Bill > SB94

This bill modifies the allocation of funds from the Greenhouse Gas Reduction Fund and adjusts motor vehicle fuel taxation. Specifically, the bill eliminates the continuous appropriation of 25% of the fund's annual proceeds to the High-Speed Rail Authority by June 30, 2026, and instead requires that 25% of the fund's annual proceeds be transferred to the Motor Vehicle Fuel Account from the 2026-27 fiscal year until December 31, 2030. To compensate for this transfer, the bill introduces a mechanism to proportionally reduce the tax rate on motor vehicle fuel. The California Department of Tax and Fee Administration will annually calculate the potential reduction in fuel tax rates based on the estimated transfer amount from the Greenhouse Gas Reduction Fund. This approach aims to maintain revenue neutrality while providing additional funding to the Motor Vehicle Fuel Account. The bill is part of California's ongoing efforts to manage transportation funding, greenhouse gas reduction, and tax policy, reflecting the state's commitment to balancing environmental goals with transportation infrastructure needs.

Agriculture and Natural Resources, Budget and Finance

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB94