CA SBX12

Excludes revenues from the transportation fuels sector cap-and-trade program from the existing Greenhouse Gas Reduction Fund allocation formula.

Directs transportation fuels sector revenues (estimated at $1.9 billion annually) to be appropriated by the Legislature for transportation infrastructure, including public streets and highways, but excludes high-speed rail funding.

Maintains existing allocations of other Greenhouse Gas Reduction Fund revenues: 35% for transit, affordable housing, and sustainable communities programs, and 25% for high-speed rail projects.

Addresses a projected $59 billion state highway maintenance shortfall and $78 billion local streets and roads shortfall over the next decade by redirecting transportation fuel sector revenues to these infrastructure needs.