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78 Page 6 LEA(j'lJE ()!' (Al~l.l'~HNt,\, :~Cll~IES Infrastructure - Bond Details Proposition 1A-Prop. 42 Reform This constitutional amendment is designed to "fix" Proposition 42, by permanently dedicating the sales tax on gasoline to transportation purposes - a key goal for the League - with narrow exceptions. This measure will appear on the ballot as Proposition 1A - the same name as the historic LOCAL-sponsored measure passed overwhelmingly by the voters in 2004 that ended the state's ability to raid local funds. (The coalition working on the Prop. 42 "fix" initiative will not submit all the signatures they gathered - thereby preventing a competing measure from qualifying for the ballot.) Like the Prop. 1A of 2004, this measure (passed by the Legislature) will restrict the Legislature's ability to borrow the Prop. 42 funds to the following: . The Governor must declare that the state faces a severe fiscal hardship, and the Legislature must enact a statute authorizing the borrowing by two-thirds vote. At the same time, the Legislature must pass a bill specifying that they will repay the Joan with interest within three years. . The state can borrow the funds no more than twice in 10 years, and must repay a prior loan before borrowing. . Any Prop. 42 transportation funds that were borrowed by the state but not repaid as of July 1, 2007, must be repaid within a 10 year period (no later than June 30, 2016) at payment of no less than one-tenth per year of the total amount owed. The measure also authorizes the Legislature to provide for the issuance of bonds by state or local agencies in accordance with the established Prop. 42 allocation methodology. Proposition 1 B- Transportation Bond sB 1266 (Nunez/Perata). Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006. Specific allocations include the following: . $2 billion for the Local Street and Road Improvement, Congestion Relief, and Traffic Safety Account, allocated directly to cities and counties for traffic congestion relief, traffic safety, transit, storm damage, maintenance, construction and other projects to improve the local street and road system. $1 billion will go directly to cities (minimum $400,000 allocation), and $1 billion will go directly to counties. (See attached document for city-by- city funding.) . $4.5 billion to Corridor Mobility Improvement Account to fund performance improvements on highly congested travel corridors. This includes major access routes to the state highway system on the local road systems that relieve congestion. . $1 billion for improvements to State Route 99 traversing approximately 400 miles of the Central Valley. . $3.1 billion for the California Ports Infrastructure, Security, and Air Quality Improvement Act. Of the $3.1 billion, $2 billion is to fund improvements to trade corridors, $1 billion to State Air Resources Board for emission reductions related to goods movement, and $100 million for the Office of Emergency Services for publicly -owned port, harbor and ferry terminal improvements. . $200 million for school bus retrofitting and replacement to reduce air pollution. . $2 billion for projects in the State Transportation Improvement Program (STIP).