Official Summary
- Creates "Traffic Congestion Relief and Safe School Bus Trust Fund."
- Redistributes portion of existing state revenues from motor vehicle sales/leases from General Fund to Trust Fund for transportation, environmental, and safety programs.
- Allocates portion of these funds for: school bus safety; clean air programs; highway improvements; mass transit improvements including bus purchase, commuter and light rail expansion.
- Provides funds for environmental enhancement programs and traffic mitigation programs.
- Allocates money to 45 specific projects. For remainder of Trust Fund, specifies distribution percentages, restricts fund uses, requires accountability mechanisms.
Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact:
- Redirects specified General Fund revenues to state and local transportation-related purposes of about $420 million in 2002–03, $910 million in 2003–04, and increasing amounts annually thereafter, depending on the increase in the sale and leasing of motor vehicles.
Read more about this topic: California Proposition 51 (2002)
Famous quotes containing the words official and/or summary:
“I thought it altogether proper that I should take a brief furlough from official duties at Washington to mingle with you here to-day as a comrade, because every President of the United States must realize that the strength of the Government, its defence in war, the army that is to muster under its banner when our Nation is assailed, is to be found here in the masses of our people.”
—Benjamin Harrison (1833–1901)
“Product of a myriad various minds and contending tongues, compact of obscure and minute association, a language has its own abundant and often recondite laws, in the habitual and summary recognition of which scholarship consists.”
—Walter Pater (1839–1894)