CA AB1866

Prohibits further issuance and sale of bonds authorized by Proposition 1A (2008) for high-speed rail purposes, except for existing appropriations for Phase 1 blended system early improvement projects.

Redirects unspent proceeds from previously issued high-speed rail bonds toward retiring debt incurred from those bond issuances, upon legislative appropriation.

Authorizes remaining unissued high-speed rail bonds to be issued and sold with net proceeds directed toward water infrastructure projects including desalination facilities, wastewater treatment and recycling facilities, reservoirs, water conveyance infrastructure, and aquifer recharge.

Requires voter approval at the next statewide election to become effective, as the measure modifies the single object or work previously specified in Proposition 1A.