PLEASE NOTE: After the printing of the Voter Information Guide was
underway,
Proposition 1 was removed from the ballot pursuant to statute.
It
will be replaced by Proposition 1A on the ballot. A Supplemental Voter Information Guide was printed to provide voters with the text, analyses, arguments, and other information about the measure required by law.
QUICK-REFERENCE GUIDE |
SUMMARY Put on the Ballot by the Legislature This act provides for the Safe, Reliable High-Speed Passenger Train Bond Act for the 21st Century. For the purpose of reducing traffic on the state’s highways and roadways, upgrading commuter transportation, improving people’s ability to get safely from city to city, alleviating congestion at airports, reducing air pollution, and providing for California’s growing population, shall the state build a high-speed train system and improve existing passenger rail lines serving the state’s major population centers by creating a rail trust fund that will issue bonds totaling $9.95 billion, paid from existing state funds at an average cost of six hundred and forty-seven million dollars ($647 million) per year over the 30-year life of the bonds, with all expenditures subject to an independent audit? Fiscal Impact: State cost of $19.4 billion over 30 years to pay both principal and interest costs of the bonds. Payments would average about $647 million per year. Unknown operation and maintenance costs, probably over $1 billion annually; at least partially offset by passenger fares. WHAT YOUR VOTE MEANS
ARGUMENTS
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