Bill Text: CA AB2121 | 2009-2010 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

---

Bill Title: High-speed rail.

Spectrum: Bipartisan Bill

Status: (Engrossed - Dead) 2010-06-10 - Referred to Com. on RLS. [AB2121 Detail]

Download: California-2009-AB2121-Introduced.html

---

BILL NUMBER: AB 2121	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Harkey

                        FEBRUARY 18, 2010

   An act to add Chapter 20.1 (commencing with Section 2704.30) to
Division 3 of the Streets and Highways Code, relating to high-speed
rail.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 2121, as introduced, Harkey. High-speed rail.
   Existing law, the California High-Speed Rail Act, creates the
High-Speed Rail Authority to develop and implement a high-speed rail
system in the state, with specified powers and duties. Existing law,
pursuant to the Safe, Reliable High-Speed Passenger Train Bond Act
for the 21st Century, approved by the voters as Proposition 1A at the
November 4, 2008, general election, provides for the issuance of
$9.95 billion in general obligation bonds for high-speed rail and
related purposes. Article XVI of the California Constitution
authorizes the Legislature, at any time after the approval of a
general obligation bond act by the people, to reduce the amount of
the indebtedness authorized by the act to an amount not less than the
amount contracted at the time of the reduction or to repeal the act
if no debt has been contracted.
   This bill would reduce the amount of general obligation debt
authorized pursuant to the Safe, Reliable High-Speed Passenger Train
Bond Act for the 21st Century to the amount contracted as of January
1, 2011.
   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.  Chapter 20.1 (commencing with Section 2704.30) is added
to Division 3 of the Streets and Highways Code, to read:
      CHAPTER 20.1.  IMPLEMENTATION OF THE SAFE, RELIABLE HIGH-SPEED
PASSENGER TRAIN BOND ACT FOR THE 21ST CENTURY


   2704.30.  Pursuant to Section 1 of Article XVI of the California
Constitution, the amount of indebtedness authorized by Chapter 20
(commencing with Section 2704) is hereby reduced to the amount
contracted as of January 1, 2011, notwithstanding anything in that
chapter to the contrary.