CA SBX114

Extends indefinitely the authority for the Department of Transportation and regional transportation agencies to enter into comprehensive development lease agreements (public-private partnerships) for transportation projects, removing the January 1, 2017 sunset date.

Adds the Santa Clara Valley Transportation Authority to the definition of "regional transportation agency," authorizing it to enter into public-private partnerships for transportation projects.

Authorizes contracting entities to impose tolls and user fees on facilities, with revenues applied to capital costs, operations, debt service, and a reasonable return on investment, with excess revenue directed to the State Highway Account or regional agencies.

Requires projects to improve mobility, safety, or air quality; be submitted to the California Transportation Commission for approval; and include at least one public hearing before final lease agreement execution.

Deletes obsolete cross-references and technical provisions, including references to the Business, Transportation and Housing Agency.