Attorney General No.
Secretary of State No.
Prohibits retention of funds earmarked for Transportation Investment Fund in the General Fund for use unrelated to transportation after 7/1/08 unless current requirements are met and prior voter approval is obtained; no repayment required. Eliminates General Fund borrowing of specified transportation funds, except for cash-flow purposes (repayment required within 30 days of adoption of budget); current law allows borrowing for three years where Governor declares transfer would cause significant negative fiscal impact on governmental functions and Legislature enacts authorizing statute. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: No revenue effect; minor election-related costs. Increases stability of funding to transportation in 2007-08 and thereafter; reduces somewhat the state's flexibility to use specified transportation funds for other (nontransportation) activities. (SA2005RF0122.)
Failed to Qualify
Transportation Funding. Initiative Constitutional Amendment and Statute. California Initiative 1181 (2006).