California High Speed Rail Authority Forfeits Cap and Trade Money Assemblyman Hadley bill redirects funds to local transit

by Stephen Frank : capoliticalreview – excerpt

California High Speed Rail Authority Forfeits Cap and Trade Money
Assemblyman Hadley bill redirects funds to local transit
Assemblyman David Hadley,  3/23/16

Lost in the recent announcement that the California High Speed Rail Authority (CHSRA) is shifting its initial route to northern California was the fact that this route is ineligible for $600 million in cap and trade funds. In the 2014 budgetary process, the legislature designated cap and trade funds to the High Speed Rail project on the basis that it would provide pollution relief to underserved communities in the Los Angeles Basin. The new route now excludes these underserved communities and removes the entire basis for High Speed Rail receiving these cap and trade funds.

Today, Assemblyman David Hadley (R-Torrance) announced the introduction of Assembly Bill 1717, which will redirect those forfeited cap and trade dollars to fund local transit projects that directly benefit disadvantaged communities.

“The High Speed Rail Authority’s decision to build the northern California route breaks the promise made to Southern California taxpayers. My legislation will ensure that cap and trade dollars go to the disadvantaged communities they are meant to help,” said Assemblyman Hadley.

In 2014, the legislature passed Senate Bill 862, which provided that 25 percent of all cap and trade dollars must go toward benefiting low income Californians. With 60 percent of the state’s disadvantaged communities in Southern California, the change in route for the High Speed Rail effectively makes this requirement impossible to meet… (more)

https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201520160AB1717

 

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