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)
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