California State Rail Plan 2005-06 to 2015-16

2005-06 – 2015-16 California State Rail Plan
TRAFFIC CONGESTION RELIEF FUND
Chapter 91, Statutes of 2000 (AB 2928 - Torlakson), established the TCRP to be
funded from the TCRF. The TCRP specified a list of projects to be funded from
the Program, including $206.5 million for specific intercity rail capital projects.
The section above on the PTA describes in general the funding sources for the
TCRP.
Through July 2005, $42.6 million was allocated from the TCRF to intercity rail
projects. In August 2005, an additional $86.8 million was allocated, for a total of
$129.4 million. As a result of the Proposition 42 transfer in 2005-06, it is
expected that other TCRP rail projects will also be funded.
TRIBAL COMPACT BONDS
Chapter 91, Statutes of 2004 (AB 687, Nunez) ratified amendments to the Tribal-
State Gaming compacts negotiated by the Governor and five tribes with gaming
income. The bill authorized the issuance of bonds, secured by up to $1.5 billion in
Indian gaming revenue, to be dedicated for transportation improvement purposes.
Based on the statute, the PTA would receive $275 million, the SHA would receive
$477 million, the TCRP would receive $453 million, and $192 million would go
to local streets and roads. However, the 2005-06 Budget authorizes $1 billion in
tribal bond income to be used to pay most of a 2005-06 $1.2 billion GF loan
commitment to the TCRF. The remaining $200 million, plus interest, would be
repaid from revenues resulting from future tribal gaming compacts if more
compacts are negotiated. If tribal gaming revenues are not sufficient to cover any
part of the $1.2 billion owed, the remainder would be repaid from the GF by
July 1, 2021. However, pending litigation makes the timing of the bond sales and
resulting revenue uncertain.
THE PASSENGER RAIL AND CLEAN AIR BOND ACT OF 1990
(PROPOSITION 108)
The 1989 Blueprint Legislation authorized three $1 billion rail bond measures to
be placed on the ballot in 1990, 1992, and 1994. In 1990, the voters approved the
first $1 billion rail bond measure, The Passenger Rail and Clean Air Bond Act of
1990. To date, almost all bond proceeds have been used to fund new rail projects
and improvements to existing systems, including $225 million for intercity rail
capital projects. The voters did not approve the subsequent two bond measures in
1992 and 1994.
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