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 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.