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CA SB117
Bill
Status
Engrossed
3/20/2025
Primary Sponsor
Budget and Fiscal Review
Click for details
AI Summary
- Requires the California Transportation Agency to loan up to $590 million from the Transit and Intercity Rail Capital Program to the Metropolitan Transportation Commission by July 1, 2026
- Loan proceeds must be used exclusively to offer loans for public transit operating purposes to BART, SF Municipal Transportation Agency, Peninsula Corridor Joint Powers Board, and Alameda-Contra Costa Transit District
- 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 loan security, which can be redirected by the Metropolitan Transportation Commission if entities fail to make timely payments
- California Transportation Commission must monitor unallocated balances and may adjust or defer future allocations to regional projects if awarded-but-unallocated funds minus outstanding loan balances fall below $350 million
Legislative Description
Transit and Intercity Rail Capital Program: loans: transit operating purposes: San Francisco Bay area.
Last Action
Re-referred to Com. on BUDGET pursuant to Assembly Rule 97.
2/23/2026
Committee Referrals
Budget3/24/2025
Budget and Fiscal Review2/5/2025
Rules1/23/2025
Full Bill Text
No bill text available