CA AB314

Expands the Affordable Housing and Sustainable Communities Program to explicitly include transit capital projects and transit-oriented development projects near planned high-speed rail stations as eligible for funding

Requires three criteria for project eligibility: the planned high-speed rail station must have received full construction funding from the High-Speed Rail Authority, construction must have started, and at least 10% of construction funding must have been spent

Removes active transportation capital projects from the list of eligible projects near high-speed rail stations that was in earlier versions of the bill

Allows transit capital and transit-oriented development projects near planned high-speed rail stations to receive greenhouse gas emission reduction credit based on proximity to future high-speed rail service, regardless of when the station becomes operational