CA AB1049

Requires $54,000,000 in loans made from the Public Transportation Account to the High-Speed Passenger Train Bond Fund in 2013 and 2014 to be repaid within 30 days of the bill's effective date.

Makes repaid funds available, upon legislative appropriation, to help offset revenue losses incurred by transit operators during the COVID-19 pandemic.

Establishes that the High-Speed Rail Authority has since met requirements to access bond funds from Proposition 1A, making the original loan rationale no longer applicable.

Takes effect immediately as an urgency statute.