(1) Existing law, pursuant to Proposition 116 of 1990, creates the Public Transportation Account as a trust fund in the State Transportation Fund, provides that revenues are to be deposited in that account from specified portions of the sales taxes on gasoline and diesel fuel, and provides that moneys in the account are available for expenditure only for transportation planning and mass transportation purposes. Certain provisions of Proposition 116 may be amended by the Legislature only by a 2 /3 vote of both houses and if the amendment is consistent with the purposes of the provision being amended. Existing law creates the Mass Transportation Fund in the State Treasury and provides that for the 2009–10 to 2012–13 fiscal years, inclusive, all of gasoline sales tax revenues commonly known as the "spillover" that would otherwise be deposited in the Public Transportation Account shall be deposited instead in that fund. Existing law specifies the transportation purposes that may be funded by the fund, including payment of debt service on transportation general obligation bonds by transfer of funds from the Mass Transportation Fund to the Transportation Debt Service Fund. For the 2008–09 fiscal year, $939,408,000 of "spillover" revenues are to be transferred to the Mass Transportation Fund. Existing law creates the Transportation Debt Service Fund in the State Treasury for the purpose, among other things, of using transportation revenues rather than the General Fund for the payment of debt service on transportation bonds or to reimburse the General Fund in that regard.
California AB 10 (20092010 Special Session 4) — Transportation.
(1) Existing law, pursuant to Proposition 116 of 1990, creates the Public Transportation Account as a trust fund in the State Transportation Fund, provides that revenues are to be deposited in that account from specified portions of the sales taxes on gasoline and diesel fuel, and provides that moneys in the account are available for expenditure only for transportation planning and mass transportation purposes. Certain provisions of Proposition 116 may be amended by the Legislature only by a 2 /3 vote of both houses and if the amendment is consistent with the purposes of the provision being amended. Existing law creates the Mass Transportation Fund in the State Treasury and provides that for the 2009–10 to 2012–13 fiscal years, inclusive, all of gasoline sales tax revenues commonly known as the "spillover" that would otherwise be deposited in the Public Transportation Account shall be deposited instead in that fund. Existing law specifies the transportation purposes that may be funded by the fund, including payment of debt service on transportation general obligation bonds by transfer of funds from the Mass Transportation Fund to the Transportation Debt Service Fund. For the 2008–09 fiscal year, $939,408,000 of "spillover" revenues are to be transferred to the Mass Transportation Fund. Existing law creates the Transportation Debt Service Fund in the State Treasury for the purpose, among other things, of using transportation revenues rather than the General Fund for the payment of debt service on transportation bonds or to reimburse the General Fund in that regard.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
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