CA SB87

Establishes a competitive funding program through the California Transportation Commission to provide up to $7.2 million from the Trade Corridors Improvement Fund for short-line railroad projects including reconstruction, maintenance, upgrade, or replacement, with guidelines to be adopted by July 1, 2020.

Expands the Independent Office of Audits and Investigations' authority to access all records and documents of the Department of Transportation and external entities receiving state and federal transportation funds, and makes it a misdemeanor to obstruct audits, alter records, or improperly release confidential draft documents.

Transfers assets and liabilities of the Local Transportation Loan Account to the State Highway Account and repeals all Transportation Finance Bank provisions effective January 1, 2020.

Redirects all revenue from California memorial license plate fees to the Antiterrorism Fund (previously split 85-15 between antiterrorism and memorial scholarship purposes).

Authorizes the Director of Finance to repay weight fee revenue loans to the General Fund in any year funds are needed for current or future year transportation bond debt service, in addition to current year debt service only.