Proposition 1B
Bond Accountability
Propositions
Lease Revenue Bonds
Prop. 1B
Proposition 1B
As approved by the voters in the November 2006 general elections, Proposition 1B enacts the Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006 to authorize $19.925 billion of state general obligation bonds for specified purposes, including high-priority transportation corridor improvements, State Route 99 corridor enhancements, trade infrastructure and port security projects, school bus retrofit and replacement purposes, state transportation improvement program augmentation, transit and passenger rail improvements, state-local partnership transportation projects, transit security projects, local bridge seismic retrofit projects, highway-railroad grade separation and crossing improvement projects, state highway safety and rehabilitation projects, and local street and road improvement, congestion relief, and traffic safety.
The Governor's Office of Homeland Security has been charged with administering the following Prop. 1B bonds:
| Program | Available | Committed | Balance |
|---|---|---|---|
| (dollars in thousands) | |||
| Port, Harbor, and Ferry Terminal Security Account | $100 Million | $40,000 | $60,000 |
| Transit System Safety, Security & Disaster Response Account | $1.0 Billion | $100,000 | $900,000 |