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Highway Safety, Traffic Reduction, Air Quality, and
Port Security Bond Act of 2006
Legislative Bond Act.

THE QUESTION

Should the state sell $19.9 billion in general obligation bonds to fund state and local transportation projects aimed at relieving congestion, improving movement of goods, improving air quality, and enhancing safety and security of the transportation system?

THE SITUATION

California spends about $20 billion a year in combined state, federal, and local funds to maintain, operate, and improve state highways, streets and roads, passenger rail, and transit systems. The money comes from state gas taxes ($6.3 billion); federal gas taxes ($4.5 billion); and local sales and property taxes and transit fares ($9.5 billion). Since 1990, $5 billion in state transportation bonds have been approved, of which $355 million remains.

THE PROPOSAL

Proposition 1B bonds would finance a variety of transportation and related projects:

• Congestion reduction, highway and local road improvements—$11.3 billion to increase capacity on state highways, local roads and public transit
• Public transportation—$4 billion to improve local transit services and state intercity rail services; purchase buses and rail cars and improve transit safely
• Goods movement and air quality—$3.2 billion to improve freight movement through ports, on state highway and rail systems and between California and Mexico; improve air quality by reducing emissions related to freight movement, and replace or retrofit school buses
• Safety and security—$1.5 billion to increase protection against security threats or improve disaster response on transit systems; improve rail crossing safety, seismically retrofit local bridges, ramps and overpasses; improve security and disaster planning in publicly owned ports, harbors and ferry terminals.

FISCAL EFFECT

The Legislative Analyst estimates the total cost of the bonds at $38.9 billion over 30 years. The state and local governments that construct or improve transportation infrastructure with these bonds will incur unknown additional costs to operate and maintain them. Revenues generated by the improvements, such as transit fares and tolls, would offset a portion of these costs.

WHAT A YES OR NO VOTE MEANS

A YES vote means the state could sell $19.9 billion in general obligation bonds for state and local transportation improvements.

A NO vote means the state could not sell $19.9 billion in general obligation bonds for these purposes.

SUPPORTERS SAY

• Prop 1B jump-starts traffic relief, mass transit and safety improvements throughout the state without raising taxes.
• It builds new roads and transportation improvement projects that enhance mobility and protect our economic future.
• It provides safer roads, reduced congestion and a strong economy.

OPPONENTS SAY

• California cannot afford to continue borrowing its way into a false sense of economic security.
• More borrowing means worsening budget deficits.
• A "No" vote will force the Legislature to focus on paying for our transportation needs with existing funds in a fiscally responsible manner

FOR MORE INFORMATION

PRO 916-448-1401, www.ReadForYourself.org

CON 916-991-9300, www.protecttaxpayers.com