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SB 916 Senate Bill - AMENDED <br />Page 27 of 29 <br />"Amenities" <br />Q <br />, <br />(b) means any of the. following: <br />• <br />(1) A cable suspension bridge. <br />(2) A bicycle facility. <br />(3) A transbay terminal. <br />(c) "Authority" means the Bay Area Toll Authority. <br />(d) "Bay area bridges" means the state -owned toll bridges within <br />the area of the geographic jurisdiction of the Metropolitan <br />Transportation Commission. <br />(e) "Department" means the Department of Transportation. <br />(f) "Seismic retrofit" means all work completed by the department <br />on the bay area bridges relating to the planning, design, and <br />construction of improvements to, or replacement of, those bridges for <br />the purpose of withstanding seismic forces, including, but not <br />limited to, any environmental or traffic mitigation necessary for <br />that work. <br />(g) "Surcharge" means the seismic retrofit surcharge imposed <br />pursuant to Section 31010. <br />SEC. 90. Section 31010 of the Streets and Highways Code is amended <br />to read: <br />31010. (a) There is hereby imposed a seismic retrofit surcharge <br />equal to one dollar ($1) per vehicle for passage on the bay area <br />bridges, except for vehicles that are authorized toll -free passage on <br />these bridges. <br />(b) Funds generated by subdivision (a) may not be used to repay <br />nontoll revenues committed to fund projects identified in paragraph <br />(2) of subdivision (a) of Section 188.5. Following the date of the <br />submission of the final report required in subdivision (d) of Section <br />188.5, funds generated pursuant to subdivision (a) that are in <br />excess of those needed to meet the toll commitment as specified by <br />paragraph (9) of subdivision (b) of Section 188.5, including annual <br />debt service payments, if any, required to support the commitment, <br />and other elements required to meet the obligations of the department' <br />s financing plan, shall be available to the authority for funding, <br />consistent with Sections 30913 and 30919, the purposes and projects <br />described in those sections. The department shall transfer to the <br />authority on an annual basis the funds made available to the <br />a,r_hority under this subdivision . <br />(c) There shall be no increase in the seismic retrofit surcharge <br />bevond the level identified in subdivision (a) for the purposes <br />identified in paragraph (9) of subdivision (a) of Section 188.5, <br />except that the department shall have the authority to increase the <br />seismic retrofit surcharge for debt service purposes only if the bank <br />finds and the Department of Finance confirms that both of the <br />'.- - _owing apply: <br />(1) Extraordinary circumstances exist that jeopardize the payment <br />of debt service for which toll revenues are authorized, and all other <br />financial resources for meeting toll commitments have been <br />exhausted. <br />(2) Bonds issued under Chapter 9.3 (commencing with Section 30950) <br />shall not be impaired solely by action taken under this section, as <br />evidenced by confirmation of the then existing ratings on those <br />bonds, by the rating agencies then rating the bonds. <br />(d) The term of the financing plan developed by the department <br />under Section 31071, for the purposes of funding the projects <br />described in Sections 30913 and 30919, is extended for a period of 30 <br />years commencing on January 1, 2008. <br />(e) This section shall remain in effect only until the date that <br />`— the California Transportation Commission notifies the Secretary of <br />State that sufficient funds have been generated to meet the <br />obligations identified in paragraph (9) of subdivision (b) of Section <br />