§ 14557.1. — 14557.1. (Added by Stats. 2003, Ch. 224, Sec. 1.)

California § 14557.1.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 3.
• Title 2.: DIVISION 3. EXECUTIVE DEPARTMENT
• Part 5.3.: PART 5.3. CALIFORNIA TRANSPORTATION COMMISSION
• Ch. 5.: CHAPTER 5. Suspension of Article XIX B Transfers

Text

(a)
Notwithstanding Sections 14556.5 and 14556.6, the money transferred from the Transportation Investment Fund to the Traffic Congestion Relief Fund during the 2003–04 fiscal year, which amount is two hundred eighty-nine million dollars ($289,000,000) pursuant to subdivision (b) of Section 14557 and paragraph (1) of subdivision (c) of Section 7104 of the Revenue and Taxation Code, shall be allocated as follows:
(1)
One hundred eighty-nine million dollars ($189,000,000) is
appropriated to the department, for expenditure as directed by the commission, for the Traffic Congestion Relief Program, of which up to thirty-one million dollars ($31,000,000) shall be available to the department for capital outlay support for projects in that program.
(2)
One hundred million dollars ($100,000,000) shall be transferred to the State Highway Account, as partial repayment of loans made to the Traffic Congestion Relief Fund from the State Highway Account pursuant to paragraph (2) of subdivision (a) of Section 14556.8, for expenditure by the department as directed by the commission on transportation capital improvement projects included in the State Transportation Improvement Program.
(b)
The transfer from the Transportation Investment Fund to the Traffic Congestion Relief Fund under subdivision (a) shall occur on a quarterly basis, with one quarter of total funds
available for the fiscal year to be transferred each quarter.

Legislative History

Added by Stats. 2003, Ch. 224, Sec. 1. Effective August 11, 2003.