BILL NUMBER: SB 903INTRODUCED BILL TEXT INTRODUCED BY Senator Nguyen JANUARY 21, 2016 An act to add Section 14556.9 to the Government Code, relating to transportation, making an appropriation therefor, and declaring the urgency thereof, to take effect immediately. LEGISLATIVE COUNSEL'S DIGEST SB 903, as introduced, Nguyen. Transportation funds: loan repayment. Existing law creates the Traffic Congestion Relief Fund, as a continuously appropriated fund, for the purpose of funding a list of transportation projects specified in statute. Existing law provided for the transfer of specified amounts from the General Fund to the Traffic Congestion Relief Fund, beginning in the 2000-01 fiscal year. Existing law also provided for the transfer of a portion of the sales tax on gasoline to the Transportation Investment Fund subsequent to voter approval on March 5, 2002, of Article XIX B of the California Constitution, which thereafter dedicated those sales tax revenues to specified transportation purposes. Existing law required a portion of the revenues in the Transportation Investment Fund to be transferred to the Traffic Congestion Relief Fund. Existing law provides for loans of revenues from various transportation funds and accounts to the General Fund, including loans from the Traffic Congestion Relief Fund, with various repayment dates. This bill would acknowledge, as of June 30, 2015, $879,000,000 in outstanding loans of certain transportation revenues, and would require this amount to be repaid from the General Fund by June 30, 2016, to the Traffic Congestion Relief Fund for allocation to the Traffic Congestion Relief Program, the Trade Corridors Improvement Fund, the Public Transportation Account, and the State Highway Account, as specified. The bill would thereby make an appropriation. This bill would declare that it is to take effect immediately as an urgency statute. Vote: 2/3. Appropriation: yes. Fiscal committee: yes. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 14556.9 is added to the Government Code, to read: 14556.9. As of June 30, 2015, eight hundred seventy-nine million dollars ($879,000,000) in loans made pursuant to Section 14556.8 were outstanding. Notwithstanding any other section of law, this amount shall be repaid from the General Fund pursuant to subdivision (c) of Section 20 of Article XVI of the California Constitution no later than June 30, 2016, and upon repayment of this amount all loans authorized pursuant to Section 14556.8 shall be deemed repaid. Pursuant to subdivision (c) of Section 14556.8, the Director of Finance may transfer from the General Fund to the Traffic Congestion Relief Fund any amount necessary to fund projects as follows: (a) One hundred forty-eight million dollars ($148,000,000) to be allocated by the commission to fund construction and associated support costs for projects that are programmed in the Traffic Congestion Relief Program, but which have not received a full allocation. (b) Three hundred thirty-four million dollars ($334,000,000) for transfer to the Trade Corridors Improvement Fund, continued in existence by Section 2192 of the Streets and Highways Code, to be allocated consistent with the provisions of Chapter 4.8 (commencing with Section 2192) of Division 3 of the Streets and Highways Code, for associated construction and support costs. (c) Two hundred sixty-five million dollars ($265,000,000) for transfer to the Public Transportation Account, for allocation in the Transit and Intercity Rail Capital Program established in Part 2 (commencing with Section 75220) of Division 44 of the Public Resources Code. (d) One hundred thirty-two million dollars ($132,000,000) for transfer to the State Highway Account, for the State Highway Operation and Protection Program. SEC. 2. This act is an urgency statute necessary for the immediate preservation of the public peace, health, or safety within the meaning of Article IV of the Constitution and shall go into immediate effect. The facts constituting the necessity are: In order to provide additional resources for transportation purposes as quickly as possible, it is necessary that this act take effect immediately.