SACRAMENTO, Calif., July 1, 2022 /PRNewswire/ -- With today, July 1, marking the start of California's Fiscal Year 2022-23, Governor Gavin Newsom signed into law a raft of legislation, comprising the 2022-2023 State Budget. The final $300 billion spending plan, which was passed by the Legislature earlier this week, reflects a $97 billion budget surplus and weeks of negotiations between Governor Newsom and legislative and budget leaders working to address the state's transit and infrastructure needs, as well as challenges related to soaring inflation, rising gas prices, homelessness, public education, healthcare, and climate change, among other areas. The California Transit Association issued the following statement:
"The new budget reflects bold, smart and historic investments in major public transit and rail capital projects statewide while fast-tracking California's transition to a cleaner, more equitable and sustainable transportation network," said Michael Pimentel, Executive Director of the California Transit Association. "We applaud Governor Newsom and the legislative and budgetary leaders in both houses for finding common ground to finalize a budget that benefits all Californians and prioritizes record investments for public transit that will advance the state's ambitious environmental and climate goals while also producing jobs and boosting economic activity."
The budget commits approximately $8 billion to public transit and rail projects statewide over several fiscal years and hundreds of millions of dollars to support the industry's transition to zero-emission technologies among other significant investments, including:
- $3.65 billion for transit capital projects to be administered through the Transit and Intercity Rail Capital Program.
- $4 billion for transit capital projects statewide, allocated via population-based formula.
- $4.2 billion in funding for the California high-speed rail project.
- $1.049 billion for the Active Transportation Program.
- $198 million for local climate adaptation projects.
- $350 for grade separation projects.
- $3.53 billion for zero-emission vehicle deployment and charging/refueling infrastructure, with $100 million allocated for zero-emission transit buses and supporting infrastructure.
The California Transit Association is comprised of more than 220 member organizations, including all the state's largest urban transit operators, as well as dozens of transit agencies in suburban and rural areas.
Public Affairs and Communications Director
California Transit Association
M: (914) 924-0120
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SOURCE California Transit Association