BILL ANALYSIS �
AB 1465
Page 1
( Without Reference to File )
CONCURRENCE IN SENATE AMENDMENTS
AB 1465 (Budget Committee)
As Amended June 13, 2012
Majority vote. Budget Bill Appropriation Takes Effect Immediately
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|ASSEMBLY: | |(March 22, |SENATE: |25-14|(June 15, |
| | |2012) | | |2012) |
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(vote not relevant)
Original Committee Reference: BUDGET
SUMMARY : Contains necessary statutory changes in the area of
transportation to implement changes to the Budget Act of 2011 and
includes provisions necessary to achieve $997.4 million of General
Fund solutions assumed in the 2012-13 budget package.
The Senate amendments delete the Assembly version of this bill, and
instead:
1)Transfer funding from the Motor Vehicle Fuel Account to the
General Fund, resulting in a General Fund savings of $312.2
million in 2012-13 and $128.8 million in savings in ongoing fiscal
years. This provision sunsets after three years and at that time
these funds will be transferred to the Highway Users Tax Account.
2)Transfer additional weight fee revenues to the General Fund,
resulting in a $385.2 million in General Fund savings in 2012-13
and $47.5 million in General Fund savings 2013-14. Current law
permanently directs truck weight fee revenue to the General Fund
for eligible debt service in a given fiscal year. However, since
annual truck weight fee revenue currently exceeds eligible debt
service, excess truck weight fee revenue has been transferred to
the General Fund in 2010-11 and 2011-12 as a pre-funding of
out-year bond debt. Both types of transfers to the General Fund -
either for current-year or for out-year General Obligation bond
debt - provide a General Fund budget benefit in the year the
transfer is made. This provision provides the authority in
2012-13 and ongoing to pre-fund out-year debt, to realize
additional savings.
3)Facilitate a $432.2 million loan to the General Fund from the
AB 1465
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Motor Vehicle Account, resulting in a budget solution of that
amount. The language specifies that the loan be repaid by June
30, 2016.
4)Allow Caltrans to post advertising for projects on the
department's Web site in lieu of trade publications and
newspapers.
5)Add an appropriation allowing this bill to take effect immediately
upon enactment.
AS PASSED BY THE ASSEMBLY , this bill expressed the intent of the
Legislature to enact statutory changes relating to the Budget Act of
2012.
FISCAL EFFECT : The provisions of this bill result in $997.4 million
in General Fund solutions assumed in the 2012-13 budget package.
COMMENTS : This budget trailer bill contains transportation
statutory changes necessary to implement the 2012-13 budget package.
Analysis Prepared by : Christian Griffith / BUDGET/ (916)
319-2099FN: 0004087