California Assembly Bill AB2728 Latest Draft

 BILL NUMBER: AB 2728AMENDED BILL TEXT AMENDED IN ASSEMBLY APRIL 24, 2014 AMENDED IN ASSEMBLY MARCH 27, 2014 INTRODUCED BY Assembly  Member   Perea   Members   Perea   and Linder   (   Coauthor:  Assembly Member   Lowenthal   )  FEBRUARY 21, 2014 An act to add and repeal Section 9400.5 of the Vehicle Code, relating to transportation. LEGISLATIVE COUNSEL'S DIGEST AB 2728, as amended, Perea. Vehicle weight fees: transportation bond debt service. Existing law imposes weight fees on the registration of commercial motor vehicles and provides for the deposit of net weight fee revenues into the State Highway Account. Existing law provides for the transfer of certain weight fee revenues from the State Highway Account to the Transportation Debt Service Fund to reimburse the General Fund for payment of debt service on general obligation bonds issued for transportation purposes. Existing law also provides for the transfer of certain weight fee revenues to the Transportation Bond Direct Payment Account for direct payment of debt service on designated bonds, which are defined to be certain transportation general obligation bonds issued pursuant to Proposition 1B of 2006. Existing law also provides for loans of weight fee  revenue   revenues  to the General Fund to the extent the revenues are not needed for bond debt service purposes, with the loans to be repaid when the revenues are later needed for those purposes, as specified. This bill, notwithstanding these provisions or any other law, until January 1, 2019, would prohibit weight fee revenue   revenues  from being transferred from the State Highway Account to the Transportation Debt Service Fund  or to   ,  the Transportation Bond Direct Payment Account  ,   or any other fund or account  for the purpose of payment of the debt service on transportation general obligation bonds, and would also prohibit loans of weight fee  revenue   revenues  to the General Fund. Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 9400.5 is added to the Vehicle Code, to read: 9400.5. (a) Notwithstanding Sections 9400.1, 9400.4, and 42205 of this code, Sections 16773 and 16965 of the Government Code, Section 2103 of the Streets and Highways Code, or any other law, weight fee  revenue   revenues  shall not be transferred from the State Highway Account to the Transportation Debt Service  Fund or to   Fund,  the Transportation Bond Direct Payment Account  ,   or any other fund or account  for the purpose of payment of the debt service on transportation general obligation bonds, and shall not be loaned to the General Fund. (b) This section shall remain in effect only until January 1, 2019, and as of that date is repealed, unless a later enacted statute, that is enacted before January 1, 2019, deletes or extends that date.