CA SB1252

Creates the State Infrastructure Projects Fund in the State Treasury to receive revenues from income taxes generated by Facebook, Inc.'s initial public offering in 2012.

Requires the Department of Finance to estimate Facebook IPO-related capital gains tax revenues by February 1, 2013, with the Controller transferring that amount to the fund by March 1, 2013, and reconciling final amounts by January 31, 2014.

Allocates fund moneys, upon legislative appropriation, for transportation projects, dams, levees, rail transit infrastructure, public transit facilities, and water treatment facilities throughout California.

Directs the bill's provisions toward addressing California's budget volatility caused by volatile capital gains income by setting aside one-time Facebook IPO revenues for long-term infrastructure investments.