Bill > SB1411

This bill, SB 1411, modifies the conditions under which funds from the Greenhouse Gas Reduction Fund (GGRF) can be used for California's high-speed rail project. The GGRF is funded by the auction or sale of allowances under a market-based compliance mechanism, and a portion of these funds is continuously appropriated for various purposes, including the High-Speed Rail Authority (HSRA). Previously, the HSRA was prohibited from making new funding commitments for activities outside the Merced to Bakersfield segment, which is a specific 171-mile portion of the high-speed rail line in the central valley, until June 30, 2030, or until that segment was fully funded, meaning all necessary funding was secured for its completion. However, there was an exception allowing up to $500 million for activities outside this segment that would maximize project efficiency. This bill removes the $500 million cap, allowing the HSRA to enter into new funding commitments for any amount of additional activities outside the Merced to Bakersfield segment, as long as those activities maximize the efficiency of delivering the overall project, excluding activities already covered by environmental clearance, planning, state operations, or enterprise-wide capital expenditures. The bill also maintains existing requirements for the HSRA to provide advance notification and for the Office of the Inspector General (OIG) to conduct cost-benefit analyses and report on potential delays to the Merced to Bakersfield segment before such expenditures are approved. By expanding the purposes for which continuously appropriated moneys may be used, this bill makes an appropriation.

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB1411