CA AB1831

Removes four-year term requirements for members appointed by the Speaker of the Assembly to the Student Aid Commission, California Exposition and State Fair governing body, High-Speed Rail Authority, and Employment Training Panel, allowing them to serve at the Speaker's pleasure instead.

Creates three new continuously appropriated funds to manage infrastructure spending: the Infrastructure Stabilization Fund, State Infrastructure and Maintenance Fund, and Rail Infrastructure Account in the State Transportation Fund.

Directs the Controller to transfer infrastructure amounts attributable to fiscal years 2019–20 through 2021–22 from the General Fund to the Infrastructure Stabilization Fund, with distributions capped at $415,000,000 to the State Infrastructure and Maintenance Fund, and amounts exceeding that threshold split equally between the Rail Infrastructure Account and Housing Rehabilitation Loan Fund.

Establishes the Rail Modernization Improvement Program to fund rail infrastructure projects benefiting high-priority shared-use corridors, with the Transportation Agency serving as administrator and required to report annually to the Legislature.

Restricts moneys transferred to the Housing Rehabilitation Loan Fund to infrastructure within the Multifamily Housing Program and takes effect immediately as a budget-related appropriations bill.