CA ACA21

Creates the California Infrastructure Investment Fund in the State Treasury, known as the Dare to Build Act, requiring transfers from the General Fund starting in fiscal year 2019–20.

Mandates the Controller transfer 2% of estimated General Fund revenues annually to the fund, with an additional 0.5% in years with more than $5 billion revenue growth.

Allocates fund distributions upon legislative appropriation: 50% for new visionary infrastructure projects (autonomous vehicle roads, educational facilities, energy microgrids, water infrastructure); 25% for street and highway lane expansion to reduce congestion; 25% for deferred maintenance.

Prohibits fund use for high-speed rail projects and requires all appropriations to supplement, not replace, existing infrastructure spending mandated by other constitutional provisions.

Allows the Legislature to suspend or reduce fund transfers during declared budget emergencies upon the Governor's proclamation.