Sec. ZZ-1. Appropriation. The following funds are appropriated from the General Fund to carry out the purposes of this Part.
1999-00
TRANSPORTATION, DEPARTMENT OF
Highway and Bridge Improvement
Capital Expenditures $5,773,969
Provides funds on a one-time basis to support the Highway Fund. These funds are to be used for capital projects that would otherwise be bonded.
Sec. ZZ-2. Transportation Funding Reserve; established. The Transportation Funding Reserve is established for the fiscal year ending June 30, 2000 in the General Fund for the purpose of accumulating funds to provide funding to the Department of Transportation for capital projects to reduce the amounts that would otherwise be bonded. Expenditures may not be made from this reserve without further authorization of the Legislature.
Sec. ZZ-3. Funding of Transportation Funding Reserve. Notwithstanding any other provision of law, at the close of fiscal year 1998-99, the State Controller shall transfer to the Transportation Funding Reserve from the available balance remaining in the General Fund after the deduction of all appropriations, financial commitments or other designated funds an amount up to the total of the lapsed balances from the amounts appropriated from the General Fund in fiscal year 1998-99 for the Personal Services line category.
Sec. ZZ-4. Report. The Commissioner of Administrative and Financial Services and the Commissioner of Transportation shall report jointly to the Joint Standing Committee on Appropriations and Financial Affairs and the Joint Standing Committee on Transportation by December 15, 1999 on the financial status of the Transportation Funding Reserve and shall submit any implementing legislation.
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