California Assembly Bill AB1384 Latest Draft

 BILL NUMBER: AB 1384AMENDED BILL TEXT AMENDED IN ASSEMBLY JANUARY 4, 2016 INTRODUCED BY Assembly Member Baker FEBRUARY 27, 2015 An act to amend Section 30959 of the Streets and Highway Code, relating to toll facilities. LEGISLATIVE COUNSEL'S DIGEST AB 1384, as amended, Baker. Toll facilities: Metropolitan Transportation  Commission   Commission.  Existing law designates the Metropolitan Transportation Commission as the regional transportation planning agency for the San Francisco Bay Area. Existing law creates the Bay Area Toll Authority, governed by the same board as the commission, with specified powers and duties relative to the administration of toll revenues from state-owned toll bridges within the geographic jurisdiction of the commission. Existing law authorizes the authority to make direct contributions to the commission in furtherance of the exercise of the authority's powers, including contributions in the form of personnel services, office space, overhead, and other funding necessary to carry out the function of the authority, with those contributions not to exceed 1% of the gross annual bridge revenues. This bill would  make a technical, nonsubstantive change to this limitation on contributions.   instead limit the direct contributions by the authority to the commission in any fiscal year to 1% of funds available to the authority in that fiscal year, and would impose a similar restriction on loans from the authority to the commission.  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. Section 30959 of the Streets and Highways Code is amended to read: 30959. The authority may make direct contributions to the commission in furtherance of the exercise of the authority's powers under this division, including contributions in the form of personnel services, office space, overhead, and other funding necessary to carry out the function of the authority, with those contributions  in any fiscal year  not to exceed an amount equal to 1 percent of the  gross annual bridge revenues.   funds available to the authority in that fiscal year.  The authority may also make additional contributions in the form of loans to the commission on a reimbursement-for-cost  basis; provided that   basis, if  those loans  in any fiscal year  do not, independent of the direct contributions, exceed 1 percent of the  gross annual bridge revenues   funds available to the authority in that fiscal year  and are fully repaid with interest at the same interest rate that would apply for toll bridge revenue bonds of the same duration as any loan taken by the commission.  As used in this section, "gross annual bridge revenues" shall have the same meaning as in Section 30958.