CA SB1029

Amends the Budget Act of 2012 to add nine appropriation items totaling approximately $6.9 billion for California's high-speed rail system, funded through the High-Speed Passenger Train Bond Fund and Federal Trust Fund.

Appropriates $713.3 million to the Department of Transportation for connectivity projects linking intercity, commuter, and urban rail systems to the high-speed train system, available for encumbrance until June 30, 2018.

Appropriates $1.1 billion to the High-Speed Rail Authority for early improvement projects in the Phase 1 blended system, subject to detailed funding plan submission and environmental clearance requirements.

Appropriates $2.6 billion in bond funds and $3.2 billion in federal funds to the High-Speed Rail Authority for the Initial Operating Segment, with funds contingent on enactment of connectivity and bookend funding appropriations.

Requires the High-Speed Rail Authority to submit comprehensive Project Update Reports twice yearly, prepare risk management and staffing plans prior to December 2012 construction contracts, and conduct analysis of impacts on state greenhouse gas emissions by June 30, 2013.