Bill > SB545

This bill requires the Governor's Office of Business and Economic Development to commission a comprehensive study on economic opportunities related to the California high-speed rail project by January 1, 2028. The study must explore various aspects of economic development along the high-speed rail corridor, including funding mechanisms, development opportunities, community benefits, potential public-private partnerships, and strategies to maximize economic value. Specifically, the study will assess infrastructure financing, land use potential, air rights development, goods movement possibilities, and local economic incentives. The bill mandates that the study be submitted to legislative committees and requires any infrastructure district financing the high-speed rail project to dedicate a majority of its revenue to infrastructure projects within the establishing local agencies' jurisdictions. The bill also requires the study to quantify potential housing cost increases and identify cost reductions, and it comes in the context of California's broader goals of climate leadership, economic development, and sustainable transportation infrastructure, with the high-speed rail project already demonstrated to create jobs, invest in disadvantaged communities, and reduce carbon emissions.

Budget and Finance, Government Affairs, Transportation and Infrastructure

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB545