(a)It is the intent of the Legislature that available cash sources, including, but not limited to, an allocation of the moneys deposited into the State Project Infrastructure Fund prior to 2018 and moneys appropriated in the Budget Acts of 2018, 2021, and 2022, be used to fund the projects authorized by Section 9112.
(b)
(1)Notwithstanding any other law, the following amounts from the General Fund are hereby appropriated in the following fiscal years for purposes specified in paragraph (2) and shall be transferred to the State Project Infrastructure
Fund:
(A)Three hundred million dollars ($300,000,000) in the 2024–25 fiscal year.
(B)Two hundred fifty million dollars ($250,000,000) in the 2025–26 fiscal year.
(C)One hundred fifty million dollars ($150,000,000) in the 2026–27 fisc
Free access — add to your briefcase to read the full text and ask questions with AI
(a)
It is the intent of the Legislature that available cash sources, including, but not limited to, an allocation of the moneys deposited into the State Project Infrastructure Fund prior to 2018 and moneys appropriated in the Budget Acts of 2018, 2021, and 2022, be used to fund the projects authorized by Section 9112.
(b)
(1)
Notwithstanding any other law, the following amounts from the General Fund are hereby appropriated in the following fiscal years for purposes specified in paragraph (2) and shall be transferred to the State Project Infrastructure
Fund:
(A)
Three hundred million dollars ($300,000,000) in the 2024–25 fiscal year.
(B)
Two hundred fifty million dollars ($250,000,000) in the 2025–26 fiscal year.
(C)
One hundred fifty million dollars ($150,000,000) in the 2026–27 fiscal year.
(2)
The transfers required by paragraph (1) shall be used to fund the acquisition, design, construction, and equipping of projects authorized by Section 9112.
(3)
Subject to paragraph (4), the amounts identified in subparagraphs (B) and (C) of paragraph (1) shall be transferred by the Controller to the State Project Infrastructure Fund upon direction by the Director of Finance in the fiscal years identified in those subparagraphs. The Director of
Finance shall direct the Controller to transfer those funds upon request by the Joint Rules Committee in the fiscal years identified in subparagraphs (B) and (C) of paragraph (1).
(4)
If needed to provide timely payments for the acquisition, design, construction, and equipping of projects authorized by Section 9112, the Director of Finance, upon receipt of an amended transfer schedule provided by the Joint Rules Committee, shall augment the funds listed in paragraph (1) in any fiscal year with a corresponding reduction in the subsequent fiscal year or years. Any augmentation pursuant to this paragraph shall not result in the cumulative amount required to be transferred during the 2024–25 fiscal year through the 2026–27 fiscal year by paragraph (1) exceeding seven hundred million dollars ($700,000,000). An amended transfer schedule provided by the Joint Rules Committee may also delay a portion of funds for each fiscal year to a subsequent fiscal
year.
(5)
The Joint Rules Committee shall confer with the Department of Finance and the Department of General Services or their designated representatives before submitting an amended transfer schedule pursuant to paragraph (4).