BILL NUMBER: AB 744 AMENDED
BILL TEXT
AMENDED IN ASSEMBLY APRIL 21, 2009
INTRODUCED BY Assembly Member Torrico
FEBRUARY 26, 2009
An act to add Section 30914.6 to amend
Section 30913 of, and to add Sections 30914.6 and 30914.7 to,
the Streets and Highways Code, relating to transportation , and
making an appropriation therefor .
LEGISLATIVE COUNSEL'S DIGEST
AB 744, as amended, Torrico. Transportation: Bay Area
high-occupancy vehicle network. toll lanes:
Express Lane Network.
Existing law specifies the respective powers and duties of the Bay
Area Toll Authority and the Department of Transportation relative to
the operation of the state-owned Bay Area toll bridges and the
allocation of toll bridge revenues. Existing law provides for the
department to designate certain lanes for the exclusive use of buses
and high-occupancy vehicles (HOVs). Existing law provides for
various agencies, including the Sunol Smart Carpool Lane Joint Powers
Authority, the Alameda County Congestion Management Agency, and the
Santa Clara Valley Transportation Authority, to implement
high-occupancy toll (HOT) lanes on state highways, which are
high-occupancy vehicle lanes that may also be used by vehicles
without the requisite number of occupants upon payment of a toll.
This bill would authorize the Bay Area Toll Authority to acquire,
construct, administer, and operate a Bay Area Express Lane Network on
state highways within the 9 Bay Area counties pursuant to a
development plan recommended by the Bay Area Express Lane Network
Project Oversight Committee, which the authority would be required to
establish. The bill would authorize the authority to establish the
fee structure for use of the express lanes and would require a public
hearing in that regard. The bill would authorize the authority to
determine the types of vehicles that may use the lanes. The bill
would provide for agreements between the authority and the Department
of Transportation and the Department of the California Highway
Patrol. The bill would require revenues from the express lanes to be
deposited in the Bay Area Express Lane Network Account, which the
authority would be required to create. The bill would authorize the
authority to issue revenue bonds for the express lane program. The
bill would specify the use of revenues in the account, including the
net revenues remaining after expenses and obligations, including
revenue bond obligations, for the express lane program are satisfied.
The bill would provide for certain payments by the authority to the
Department of Transportation and the Department of the California
Highway Patrol relative to their responsibilities with regard to the
express lane program, and would continuously appropriate the amount
of those payments to those agencies for those purposes. The bill
would require the Sunol Smart Carpool Lane Joint Powers Authority,
the Alameda County Congestion Management Agency, and the Santa Clara
Valley Transportation Authority to enter into agreements with the Bay
Area Toll Authority by January 1, 2011, to provide for the transfer
of their rights and obligations relative to HOT lane projects to the
Bay Area Toll Authority. The bill would enact other related
provisions.
Existing law specifies certain major projects that may be
undertaken with toll revenues from the Bay Area state-owned toll
bridges.
This bill would provide that the Bay Area Express Lane Network is
eligible for funding from bridge toll revenues under certain
conditions.
Because this bill would mandate various actions to be undertaken
by the Bay Area Toll Authority, it would thereby impose a
state-mandated local program.
The California Constitution requires the state to reimburse local
agencies and school districts for certain costs mandated by the
state. Statutory provisions establish procedures for making that
reimbursement.
This bill would provide that, if the Commission on State Mandates
determines that the bill contains costs mandated by the state,
reimbursement for those costs shall be made pursuant to these
statutory provisions.
This bill would authorize the authority to acquire, construct,
administer, and operate a value pricing high-occupancy vehicle
network program on state highways within the geographic jurisdiction
of the Metropolitan Transportation Commission, as specified. The bill
would authorize capital expenditures for this program to be funded
from program revenues, revenue bonds, and revenue derived from tolls
on state-owned toll bridges within the geographic jurisdiction of the
commission. The bill would authorize the use of the high-occupancy
vehicle lanes in the program by single-occupant vehicles for a fee,
as specified.
Vote: majority. Appropriation: no yes
. Fiscal committee: no yes .
State-mandated local program: no yes .
THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:
SECTION 1. The Legislature finds and declares all of the
following:
(a) It is the intent of the Legislature to develop and
implement authorize the Bay Area Toll Authority to
acquire, construct, administer, and operate a Bay Area Express
High Occupancy Toll (HOT) Lane Network (network)
with the following objectives:
(1) To more More
effectively manage the region's freeways in order to provide higher
vehicle and passenger throughput and to reduce delays for those
traveling within each travel corridor.
(2) To provide Provide an efficient,
effective, consistent, and seamless system for network customers.
(3) To provide Provide benefits to
travelers within each corridor commensurate with the revenues
collected in that corridor, including expanded travel options and
funding to support nonhighway options that enhance effectiveness and
throughput.
(4) To implement Expedite the
implementation of the network using a rapid delivery approach
that takes advantage of that, to the greatest
extent possible, relies upon the existing highway right-of-way
to deliver the network in an expedited timeframe
and minimizes the environmental impact .
(5) To use toll revenue collected from the HOT network for the
purposes of operating the network, maintaining HOT system equipment
and software, providing transit services and improvements in the
corridors, financing and constructing the HOT network, and providing
other corridor improvements.
(b) It is the intent of the Legislature that the network be
developed in a collaborative manner that includes the congestion
management agencies, the Department of Transportation, the Department
of the California Highway Patrol, and the Bay Area Toll Authority.
This collaborative process should establish policies for
implementation of the HOT network, including, but not limited to,
phasing of HOV conversion and HOT construction, phasing of corridor
investment plan elements, and occupancy and pricing policies for HOT
network operations.
(5) Use network revenue to finance construction of the network and
other corridor improvements, operate and maintain the network, and
provide transit services and improvements in the network corridors.
(b) It is the intent of the Legislature that network policies be
developed by the Bay Area Toll Authority in a collaborative manner
that includes the Department of Transportation, the Department of the
California Highway Patrol, and Bay Area congestion management
agencies.
(c) It is the intent of the Legislature that the network utilize a
corridor-based structure that recognizes commute sheds and
geographic communities of interest as the most effective and
user-responsive models for the HOT network
facilities implementation.
(d) It is the intent of the Legislature that the network reinvest
net corridor revenues generated in the corridor to provide
benefits to all travelers in the corridor, including additional
capital improvements on the freeway and parallel arterials, transit
capital operations that increase throughput capacity in the
corridor and service improvements , and enhanced
operations and management of the corridor.
(e) It is the intent of the Legislature that corridor investment
plans , developed by stakeholder agencies within the
corridor, guide the use of toll revenues to capital and
operating programs serving the corridor commensurate with the revenue
generated by each corridor.
(f) It is the intent of the Legislature that , the
network, provide customers a simple, consistent, the
network provide customers a consistent and efficient
system that is easy to use use, that is safe
and simple, and includes the following elements
elements, but with variances and exceptions as may be
necessary to commence network operations in a timely and
cost-effective manner :
(1) Consistent geometric design.
(2) Consistent signage.
(3) Safe and simple operations.
(4)
(3) Common technology.
(5)
(4) Common marketing, logo, and terminology.
(g) It is the intent of the Legislature that in establishing the
network a collaborative process determine the best financing
mechanism, which could include using the state-owned toll bridge
enterprise as a financing pledge to construct the network.
SEC. 2. Section 30913 of the Streets
and Highways Code is amended to read:
30913. (a) In addition to any other authorized expenditure of
toll bridge revenues, the following major projects may be funded from
toll revenues:
(1) Benicia-Martinez Bridge: Widening of the existing bridge.
(2) Benicia-Martinez Bridge: Construction of an additional span
parallel to the existing bridge.
(3) Carquinez Bridge: Replacement of the existing western span.
(4) Richmond-San Rafael Bridge: Major rehabilitation of the
bridge, and development of a new easterly approach between the toll
plaza and Route 80, near Pinole, known as the Richmond Parkway.
(5) The authority's Bay Area Express Lane Network authorized by
Section 30914.7, if and to the extent that funding for the network is
not available from other sources listed in subdivision (a) of
Section 30914.7 on terms and conditions acceptable to the authority,
and provided that the authority projects that its funding of the
network will not necessitate an increase in the amount of tolls
collected by the authority or preclude the authority from timely
performance of its contractual and statutory obligations.
(b) The toll increase approved in 1988, which authorized a uniform
toll of one dollar ($1) for two-axle vehicles on the bridges and
corresponding increases for multi-axle vehicles, resulted in the
following toll increases for two-axle vehicles on the bridges:
1988
Increase
(Two-axle
Bridge vehicles)
Antioch Bridge $0.50
Benicia-Martinez Bridge .60
Carquinez Bridge .60
Dumbarton Bridge .25
Richmond-San Rafael .00
Bridge
San Francisco-Oakland .25
Bay Bridge
San Mateo-Hayward Bridge .25
Portions of the 1988 toll increase were dedicated to transit
purposes, and these amounts shall be calculated as up to 2 percent of
the revenue generated each year by the collection on all bridges of
the base toll at the level established by the 1988 toll increase. The
Metropolitan Transportation Commission shall allocate two-thirds of
these amounts for transportation projects, other than those specified
in Sections 30912 and 30913 and in subdivision (a) of Section 30914,
which are designed to reduce vehicular traffic congestion and
improve bridge operations on any bridge, including, but not limited
to, bicycle facilities and for the planning, construction, operation,
and acquisition of rapid water transit systems. The commission shall
allocate the remaining one-third solely for the planning,
construction, operation, and acquisition of rapid water transit
systems. The plans for the projects may also be funded by these
moneys. Funds made available for rapid water transit systems pursuant
to this subdivision shall be allocated to the San Francisco Bay Area
Water Emergency Transportation Authority beginning on the date
specified in the adopted transition plan developed by the authority
pursuant to subdivision (b) of Section 66540.32 of the Government
Code.
(c) The department shall not include, in the plans for the new
Benicia-Martinez Bridge, toll plazas, highways, or other facilities
leading to or from the Benicia-Martinez Bridge, any construction that
would result in the net loss of any wetland acreage.
(d) With respect to the Benicia-Martinez and Carquinez Bridges,
the department shall consider the potential for rail transit as part
of the plans for the new structures specified in paragraphs (2) and
(3) of subdivision (a).
(e) At the time the first of the new bridges specified in
paragraphs (2) and (3) of subdivision (a) is opened to the public,
there shall be a lane for the exclusive use of pedestrians and
bicycles available on at least, but not limited to, the original span
at Benicia or Carquinez, or the additional or replacement spans
planned for those bridges. The design of these bridges shall not
preclude the subsequent addition of a lane for the exclusive use of
pedestrians and bicycles.
(f) Subject to the rights of the holders of any outstanding toll
bridge revenue bonds issued by the authority and the requirements of
any constituent instruments defining the rights of holders of related
obligations of the authority entered into pursuant to Section 5922
of the Government Code, the authority may pledge toll revenues and
other income derived from bridges referred to in Section 30953 to
secure bonds issued by it pursuant to Section 30914.7 if and to the
extent the authority determines that funding for the network
authorized by Section 30914.7 is not available on terms acceptable to
the authority without such a pledge, and provided that the authority
projects that those obligations will not necessitate an increase in
the amount of tolls collected by the authority or preclude the
authority from timely performance of its contractual and statutory
obligations. The authority may increase the amount of the tolls
collected on the toll bridges described in Section 30910 pursuant to
Section 30887 thereafter if that action is necessary to meet those
obligations.
SEC. 3. Section 30914.6 is added to the
Streets and Highways Code , to read:
30914.6. (a) The authority shall establish a Bay Area Express
Lane Network Project Oversight Committee (committee), which shall
consist of a representative of the authority (who shall serve as
chair of the committee), a representative of the department named by
its director, a representative of the Department of the California
Highway Patrol named by its director, and a staff representative of
each of the congestion management agencies within the geographic
jurisdiction of the commission that meets at least one of the
following conditions: (1) has committed substantial funding
associated with its county or city and county to the development,
final design, or construction of an express lane corridor, (2) whose
governing board has adopted a policy in support of developing an
express lane project along its travel corridor that is consistent
with the network provided for in Section 30914.7, or (3) whose county
or city and county includes residents who comprise a significant
share of the potential users of the network in the group's travel
corridors.
(b) The committee shall recommend to the authority an express lane
development plan for the network authorized in Section 30914.7 and
policies for the network. The development plan shall consist of the
following two elements:
(1) A phasing plan for development of the network, including a
definition of the geographic boundaries of each of the express lane
corridors.
(2) An operational plan that shall recommend consistent standards
for the network, including, but not limited to the following:
(A) Geometric design.
(B) Signage.
(C) Safe and simple operations.
(D) Technology.
(E) Shared marketing, logo, and terminology.
(F) Pricing policies and goals.
(G) Carpool occupancy requirements.
(H) Hours of operation.
(I) Maintenance.
(J) Enforcement.
(K) Tort liability.
While development of a consistent regional network shall be the
goal, the development plan may allow for variations in design or
other policies, as needed, to commence network operations in a timely
and cost-effective manner. In developing the phasing plan, the
committee shall first prioritize those corridors that can be
converted to express lanes from existing high-occupancy vehicle lanes
and that demonstrate the ability to generate sufficient fee revenue
to cover their financing, operating, and maintenance costs. Elements
of the plan that are under the authority of the department or the
Department of the California Highway Patrol shall be approved by the
department or the Department of the California Highway Patrol,
respectively, prior to being recommended to the authority. The
authority shall consider and accept or reject any plan or revised
plan recommended to it. If the authority rejects a plan, it shall
return the plan to the committee with its comments, and the committee
shall revise the plan and recommend it to the authority. The process
described in this subdivision, including and through plan acceptance
by the authority, shall not be delayed or halted on account of any
failure to receive or accept corridor investment plans pursuant to
subdivision (e) or (f).
(c) The committee shall establish corridor working groups as
subcommittees of the committee. The number of groups shall correspond
to the number of travel corridors within the geographic jurisdiction
of the commission as determined by the authority and as adjusted,
from time to time, by the authority to reflect travel patterns after
consultation with the affected group or groups and the committee.
(d) Each group shall consist of a representative of the authority,
a representative of the department named by its director, a
representative of the Department of the California Highway Patrol
named by its director, and a staff representative of each congestion
management agency represented on the committee. Each group shall
establish its representation and voting arrangements to reflect the
commute shed patterns served by the corridor and the level of county
or city and county investment in the infrastructure forming part of
the corridor. Each group shall select its chair from among the staff
representatives of congestion management agencies participating in
the group.
(e) Each group shall submit a corridor investment plan to the
committee. The corridor investment plan shall consist of:
(1) Proposals and recommendations, including, but not limited to,
the following elements of the express lane development plan:
(A) Phased development of the segment of the network within the
corridor of the group.
(B) Carpool occupancy and fee policies.
(C) Local funding for the development of part or all of the
segment of the network within the corridor of the group, which may
include the use of bond or other financing backed by local sources
other than network fees.
(D) Proposed reimbursement of local agencies for prior
expenditures on elements of the network.
(E) Proposals as to which state, regional, or local agency or
other entity should perform work described in the corridor investment
plan, on a project-by-project basis, including, without limitation,
planning, environmental review, and design and construction.
(F) An examination of equity considerations, including, but not
limited to, the impact of the proposed segment of the network on
low-income travelers in the corridor, transit riders, carpoolers, and
the distribution of benefits by geographic area and steps to
minimize any inequities that are identified.
(2) Proposals as to projects and programs to be funded with net
corridor revenue as defined in subdivision (h) of Section 30914.7,
giving priority to projects and programs that will reduce vehicular
emissions and provide cost-effective public transit options. Corridor
working groups may also prepare corridor system management plans
which include, but are not limited to, express lane operations.
(f) The committee shall review each corridor investment plan for
consistency with the development plan and other corridor investment
plans and, after any resulting revisions by the group, the committee
shall submit each corridor investment plan that it has approved to
each of the congestion management agencies that has a representative
participating in the group for review and approval. Each congestion
management agency shall have 60 days within which to approve a
corridor investment plan submitted to it. If the corridor investment
plan is approved by all of the congestion management agencies
participating in the group, the committee shall recommend the plan to
the authority. If a corridor investment plan is not approved by one
or more congestion management agencies to which it has been
submitted, the group and the committee shall use their best efforts
to negotiate changes in the plan that will result in approval by each
congestion management agency to which the plan is required to be
submitted, and the revised plan shall be submitted to the congestion
management agencies to which the initial plan was submitted. Each
congestion management agency shall have 60 days within which to
approve the revised plan submitted to it. At the end of the 60-day
period, the revised plan shall be recommended by the committee to the
authority and a representative of each of the congestion management
agencies that rejected the revised plan shall be afforded an
opportunity to advise the authority of the congestion management
agency's reasons for not approving the revised plan. The authority
shall consider and accept or reject any plan or revised plan
recommended to it. If the authority rejects a plan, it shall return
the plan to the committee with its comments, and the committee and
the group that prepared the plan shall revise the plan and repeat the
approval process, and the committee shall recommend the resulting
revised plan to the authority.
(g) The committee, and each group, is a local agency as that term
is defined in the Ralph M. Brown Act (Chapter 9 (commencing with
Section 54950) of Part 1 of Division 2 of Title 5 of the Government
Code). Members of the committee and members of each group shall serve
without compensation. The authority shall develop a
conflict-of-interest policy that shall be applicable to each member
of the committee and each member of a group.
SEC. 4. Section 30914.7 is added to the
Streets and Highways Code , to read:
30914.7. (a) Notwithstanding Sections 149 and 30800, and Section
21655.5 of the Vehicle Code, the authority may acquire, construct,
administer, and operate an express lane network on state highways
within the geographic jurisdiction of the commission. Expenditures
for the network may be funded from the following:
(1) Network revenues.
(2) Revenue bonds issued pursuant to this section.
(3) Contributions and loans from federal, state, or local
agencies, including congestion management agencies and the authority.
(b) The authority pursuant to subdivision (c), may direct and
authorize the entry and use of the network or segments of the network
for a fee. The fee structure shall be established from time to time
by the authority. The authority shall make available for public
review and comment its proposed fee schedule and any changes to the
fee schedule at least 30 days prior to holding a public hearing
concerning the proposed fee schedule or changes to the fee schedule
and considering the adoption of the fee schedule or changes to the
fee schedule. The public hearing may be scheduled during a public
meeting of the authority.
(c) Notwithstanding any other law, vehicles that are certified or
authorized by the authority for entry into, and use of, the network
or segments of the network shall not be in violation of the Vehicle
Code or any other law because of that entry and use.
(d) The authority shall implement the development plan accepted by
it pursuant to subdivision (b) of Section 30914.6, except any
elements or features of the plan that the authority determines are
impracticable or will unduly delay commencement of operation of the
network.
(e) (1) The authority shall carry out the network program in
cooperation with the department pursuant to a cooperative agreement
that addresses all matters related to design, construction,
maintenance, and operation of state highway system facilities in
connection with the network program, including the conversion of
existing high-occupancy vehicle lanes to express lanes forming part
of the network. With the assistance of the department, the authority
shall establish appropriate traffic flow guidelines for the purpose
of ensuring optimal use of the network without adversely affecting
other traffic on the state highway system. Implementation of the
network program shall ensure that Level of Service C, as measured by
the most recent issue of the Highway Capacity Manual, as adopted by
the Transportation Research Board, is maintained at all times in the
network, except that the cooperative agreement may permit Level of
Service D under terms and conditions specified in the cooperative
agreement.
(2) Notwithstanding Section 13340 of the Government Code, there is
hereby continually appropriated to the department for expenditure
pursuant to the cooperative agreement all amounts paid to the
department by the authority for the network program, including,
without limitation, amounts paid as advances or to reimburse the
department for payments to contractors working on the program.
(f) (1) Agreements between the authority, the department, and the
Department of the California Highway Patrol shall identify the
respective obligations and liabilities of those entities and assign
them responsibilities relating to the network program. The agreements
entered into pursuant to this section shall be consistent with
agreements between the department and the United States Department of
Transportation relating to programs of this nature. The agreements
shall include clear and concise procedures for enforcement by the
Department of the California Highway Patrol of laws prohibiting the
unauthorized use of the network. The agreements shall provide for
reimbursement of state agencies, from revenues generated by the
network program, or other funding sources that are not otherwise
available to state agencies for transportation-related projects, for
costs incurred in connection with the implementation or operation of
the network program.
(2) Notwithstanding Section 13340 of the Government Code, there is
hereby continually appropriated to the Department of the California
Highway Patrol for expenditure pursuant to agreements authorized by
paragraph (1) all amounts paid to the Department of the California
Highway Patrol for the network program, including, without
limitation, amounts paid as advances.
(g) All revenue generated from the network program shall be
deposited in the authority's Bay Area Express Lane Network Account,
which the authority shall create. Funds in the account shall be
available to the authority the following purposes:
(1) To pay or provide for debt service on revenue bonds issued
pursuant to this section, to pay any related obligations of the
authority entered into pursuant to Section 5922 of the Government
Code, and to comply with the covenants and other requirements of the
constituent instruments defining the rights of holders of those
revenue bonds and related obligations.
(2) To repay loans pursuant to paragraph (3) of subdivision (a),
including financing costs.
(3) To pay or provide for expenses related to the acquisition,
operation including collection and enforcement, maintenance,
construction, and administration of the network program.
(h) Revenue remaining after payment or provision for payment of
the obligations and other expenses referred to in (1) to (3),
inclusive, of subdivision (g) shall constitute "net corridor revenue."
Up to 5 percent of net corridor revenue may be retained by the
authority as a reserve to pay, and applied to pay, obligations and
other expenses referred to in paragraphs (1) to (3), inclusive, of
subdivision (g). All remaining net corridor revenue shall be
allocated by the authority to those corridors provided for in
subdivision (c) of Section 30914.6 in proportion to the net corridor
revenue generated by each corridor. The net corridor revenue
so allocated to a corridor shall be
expended by the authority to implement the projects and programs to
be funded with net corridor revenue in accordance with the corridor
investment plan for that corridor accepted by the authority pursuant
to subdivision (f) of Section 30914.6. The authority may disburse net
corridor revenue to recipients approved by the authority, including
congestion management agencies, on any basis that it determines to be
reasonable and timely, including, without limitation, advances,
pay-as-you-go, or reimbursement methods.
(i) The authority shall control and maintain the Bay Area Express
Lane Network Account and those subaccounts as it deems necessary and
appropriate to document revenues and expenditures in accordance with
generally accepted accounting principles.
(j) The authority and the Sunol Smart Carpool Lane Joint Powers
Authority shall enter into an agreement within one year after the
effective date of this act providing for the transfer to the
authority of all of the rights and obligations of the Sunol Smart
Carpool Lane Joint Powers Authority under Section 149.5. The
authority shall succeed to all of the rights and obligations of the
Sunol Smart Carpool Lane Joint Powers Authority under Section 149.5
on the earlier of the date specified in the agreement, or one year
after the date when the project authorized by Section 149.5 commences
commercial operation.
(k) The authority and the Alameda County Congestion Management
Agency shall enter into an agreement within one year after the
effective date of this act providing for the transfer to the
authority of all of the rights and obligations of the Alameda County
Congestion Management Agency under Section 149.5. The authority shall
succeed to all of the rights and obligations of the Alameda County
Congestion Management Agency under Section 149.5 on the earlier of
the date specified in the agreement, or one year after the date when
the project authorized by Section 149.5 commences commercial
operation.
(l) The authority and the Santa Clara Valley Transportation
Authority shall enter into an agreement within one year after the
effective date of this act providing for the transfer to the
authority of all of the rights and obligations of the Santa Clara
Valley Transportation Authority under Section 149.6. The authority
shall succeed to all of the rights and obligations of the Santa Clara
Valley Transportation Authority under Section 149.6 on the earlier
of the date specified in the agreement, or one year after the Santa
Clara Valley Transportation Authority commences commercial operation
of the first of the projects authorized by Section 149.6.
(m) (1) The authority may issue bonds and notes (collectively
called bonds) payable from and secured by a pledge of the authority
of all or any part of the revenue of the network program to finance
capital expenditures for the network program, including construction
and construction-related expenditures, and sell those bonds at public
or private sale in the form and on the terms and conditions as the
governing board of the authority shall approve. The authority may
pledge all or any part of the revenue of the network program to
secure those bonds and any related obligations of the authority
entered into pursuant to Section 5922 of the Government Code. The
authority may issue bonds to refund or purchase or otherwise acquire
any bonds on terms and conditions as the governing board of the
authority shall approve.
(2) Subject to the rights of the holders of any bonds issued
pursuant to paragraph (1) and the rights of the holders of any
constituent instruments defining the rights of holders of related
obligations of the authority entered into pursuant to Section 5922 of
the Government Code, the authority may pledge revenue of the network
program to secure bonds issued by it pursuant to Section 30961 if
and to the extent it determines that bonds issued by it pursuant to
Section 30961 require such a pledge in order to be sold by the
authority on terms acceptable to the authority. The authority may
increase the amount of the fees provided for in subdivision (b) if
necessary to meet those obligations.
(3) Any bond issued pursuant to this section shall contain on its
face a statement to the following effect:
"Neither the full faith and credit nor the taxing power of the
State of California or the Bay Area Toll Authority is pledged to the
payment of principal of, or the interest on, this bond."
(4) Bonds issued pursuant to this section are legal investments
for all trust funds, the funds of all insurance companies, banks,
trust companies, executors, administrators, trustees, and other
fiduciaries. The bonds are securities that may legally be deposited
with, and received by, any state or municipal officer, agency, or
political subdivision of the state for any purpose for which the
deposit of bonds or obligations of the state is now, or may hereafter
be, authorized by law, including deposits to secure public funds.
(5) Interest earned on any bonds issued pursuant to this section
shall at all times be free from state personal income tax and
corporate income tax.
(6) The state hereby pledges to and agrees with the holders of
bonds issued pursuant to this section and the holders of related
obligations of the authority entered into pursuant to Section 5922 of
the Government Code.
(A) The state will not authorize fee-based publicly or privately
owned express lanes or high occupancy vehicle lanes within the
geographic jurisdiction of the commission other than the express
lanes provided for in this section.
(B) The state will not limit, alter, or restrict the rights hereby
vested in the authority to fulfill each pledge of revenues and any
other terms of any agreement made with or for the benefit of those
holders of bonds and related obligations or in any way impair the
rights or remedies of the holders of those bonds and related
obligations.
SEC. 5. If the Commission on State Mandates
determines that this act contains costs mandated by the state,
reimbursement to local agencies and school districts for those costs
shall be made pursuant to Part 7 (commencing with Section 17500) of
Division 4 of Title 2 of the Government Code.
SEC. 2. Section 30914.6 is added to the Streets
and Highways Code, to read:
30914.6. (a) Notwithstanding Sections 149 and 30800, and Section
21655.5 of the Vehicle Code, the authority may acquire, construct,
administer, and operate a value pricing high-occupancy vehicle
network program on state highways within the geographic jurisdiction
of the commission that the commission has determined will reduce
congestion on or make improvements to travel in the toll bridge and
transportation network. Capital expenditures for the program may be
funded from the following:
(1) Program revenues.
(2) Revenue bonds issued pursuant to this section.
(3) To the extent the authority elects to do so, from revenue
derived from tolls on bridges named in Section 30910 and revenue
bonds issued pursuant to Section 30961.
(b) The program, under the circumstances described in subdivision
(c), may direct and authorize the entry and use of the high-occupancy
vehicle lanes in the corridors in the region identified in
subdivision (a) by single-occupant vehicles for a fee. The fee
structure shall be established from time to time by the authority.
(c) Single-occupant vehicles that are certified or authorized by
the authority for entry into, and use of, the high-occupancy vehicle
lanes identified in subdivision (a) are exempt from Section 21655.5
of the Vehicle Code, and the driver shall not be in violation of the
Vehicle Code because of that entry and use.