BILL ANALYSIS                                                                                                                                                                                                    



                                                                  AB 2121
                                                                  Page  1

          Date of Hearing:   May 12, 2010

                        ASSEMBLY COMMITTEE ON APPROPRIATIONS
                                Felipe Fuentes, Chair

                   AB 2121 (Harkey) - As Amended:  April 28, 2010 

          Policy Committee:                               
          TransportationVote:13-0

          Urgency:     No                   State Mandated Local Program:  
          No     Reimbursable:               

           SUMMARY  

          This bill requires the High Speed Rail Authority (HSRA) to  
          submit the following two reports on an annual basis, from 2011  
          through 2015:

          1)A high-speed train program, listing all expected capital  
            projects (by project phase) requiring appropriation in the  
            following six years.

          2)An annual report, to including progress on the overall program  
            and a financing plan for construction and a financial plan.

           FISCAL EFFECT  

          Special fund cost for the both reports would total in the range  
          of $150,000 to $200,000 in the first year.  Annually cost to  
          update the reports through 2015 would be around $100,000.  
          [High-Speed Passenger Train Bond Fund]

           COMMENTS  

           1)Purpose  .  As introduced, this bill, consistent with authority  
            granted to the Legislature in Section 1 of Article 16 the  
            California Constitution, would have reduced the amount of  
            indebtedness authorized for the high-speed rail project to the  
            amount contracted for as of January 1, 2011.  The bill was  
            amended in the Assembly Transportation Committee to instead  
            require the two specified reports, which will to some extent  
            increase oversight of the program.

           2)Related Legislation  .  These two reporting requirements are  








                                                                  AB 2121
                                                                  Page  2

            also contained in AB 1375 (Galgiani), which is pending in the  
            Senate Transportation and Housing Committee.

           Analysis Prepared by  :    Chuck Nicol / APPR. / (916) 319-2081