CA AB117

Transportation Agency must loan up to $590 million from the Transit and Intercity Rail Capital Program to the Metropolitan Transportation Commission by July 1, 2026, for San Francisco Bay Area transit operations

Metropolitan Transportation Commission will re-loan these funds to BART, SF Municipal Transportation Agency, Peninsula Corridor Joint Powers Board, and Alameda-Contra Costa Transit District for operating purposes including avoiding service reductions

Loan repayment spans 12 years with interest-only payments for the first two years, followed by quarterly principal and interest payments at the Surplus Money Investment Fund rate

Transit operators must pledge their State Transit Assistance Program revenues as security, which the Metropolitan Transportation Commission can redirect if loan payments are missed

California Transportation Commission must monitor unallocated regional funds and establish an allocation plan if the balance falls below $350 million to ensure project funding needs are met during the repayment period