Funding
Overall, the project is funded by federal, state, regional, and local allocations, including bridge tolls; dedicated sales tax revenues (Measure Q), and fares. The project financial plan projects that fares will be 36% of operating costs, which is typical for American commuter rail services. The SMART Board gave final approval to a bond issue to yield some $171 million dollars for capital construction in November, 2011.
In November 2006, Measure R, a proposal for funding though an increase in sales taxes, received a combined 65.3% "yes" vote in the two-county District, with 70.1% in favor in Sonoma County, and 57.5% in favor in Marin County. Because it lacked the 2/3 majority needed for passage, that measure failed.
Measure Q, similar to Measure R, was approved on November 4, 2008. It received a combined vote of 69.5% in the two counties (73.5 percent approval in Sonoma County and 62.6 percent in Marin County). Measure Q provides funding for the project through a quarter-cent sales tax in both counties.
Read more about this topic: Sonoma-Marin Area Rail Transit