BILL NUMBER: SB 22INTRODUCED BILL TEXT INTRODUCED BY Senator La Malfa DECEMBER 6, 2010 An act relating to high-speed rail. LEGISLATIVE COUNSEL'S DIGEST SB 22, as introduced, La Malfa. High-speed rail. Existing law, the California High-Speed Rail Act, creates the High-Speed Rail Authority to develop and implement a high-speed rail system in the state, with specified powers and duties. Existing law, pursuant to the Safe, Reliable High-Speed Passenger Train Bond Act for the 21st Century, provides for the issuance of $9.95 billion in general obligation bonds for high-speed rail and related purposes. This bill would state the intent of the Legislature to reexamine the bond funding mechanism of the authority relative to the authority' s high-speed rail project. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. It is the intent of the Legislature to reexamine the bond funding mechanism relative to the High-Speed Rail Authority and the authority's high-speed rail project.