California "Stop the $100 Billion Bullet Train to Nowhere" Initiative (2014)

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A California "Stop the $100 Billion Bullet Train to Nowhere" Initiative (#12-0004, #12-0010) was approved for circulation in California as a contender for the November 6, 2012 ballot and the November 4, 2014 ballot.

Its sponsors, however, did not submit any signatures to election officials by the deadline.

If the initiative had qualified for the ballot and been approved by the state's voters, it would have:

  • Prevented the issuance and sale of the remaining amount of high-speed rail bonds previously approved by the voters to initiate construction of a high-speed train system.
  • Allowed the Legislature to redirect any unspent high-speed rail bond proceeds from high-speed rail purposes to repay those outstanding bonds.

Two versions of the language for the initiative were filed with elections officials. The circulation deadline for Version #12-0004 was August 13, 2012; no signatures were filed by that date. The circulation deadline for Version #12-0010 was early October 2012; no signatures were filed by that date.

A separate initiative with a similar objective, Elimination of the High-Speed Rail Authority, was filed by a different set of sponsors in 2012 and did not proceed to the ballot.

Text of measure

Ballot title:

Prevents Issuance of Future High-Speed Rail Bonds. Initiative Statute.

Official summary:

"Prevents the issuance and sale of the remaining amount of high-speed rail bonds previously approved by the voters to initiate construction of a high-speed train system. Allows the Legislature to redirect any unspent high-speed rail bond proceeds from high-speed rail purposes to repay those outstanding bonds."

Fiscal impact statement:

(Note: The fiscal impact statement for a California ballot initiative authorized for circulation is jointly prepared by the state's Legislative Analyst and its Director of Finance.)

"State debt-service savings of up to $709 million annually from not using state bond funds to support high-speed rail, depending on the actual reduction in bonds sold as a result of this measure. Unknown reduction in state and local revenues due to a somewhat lower level of economic activity in the state over the next several years, resulting from a loss of matching funds from the federal government or potential private investors."

Path to the ballot

See also: Signature requirements for ballot measures in California

External links

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