AB 1446 Summary

• Authorizes the Los Angeles County Metropolitan Transportation Authority (MTA) to extend or eliminate the sunset date for imposing a 0.5% transactions and use tax beyond the original 30-year duration, subject to two-thirds voter approval.

• Requires the MTA to adopt a new expenditure plan for tax revenues and permits the MTA to issue bonded indebtedness payable from tax proceeds to accelerate completion of specified transit and highway projects.

• Mandates that 20% of net tax revenues fund bus operations and 5% fund rail operations for eligible transit operators; requires remaining funds to complete designated capital projects including the Exposition Light Rail, Crenshaw Transit Corridor, Gold Line Extension, and various highway improvements.

• Allows the MTA flexibility to transfer net revenues between transit capital and highway subfunds within a subregion by two-thirds board vote, and requires legislative notification before amending the expenditure plan.

• Directs any remaining tax proceeds after capital project completion and bond repayment to be expended on long-range transportation projects in the MTA's Long Range Transportation Plan or for transit operations.