California "Stop the $100 Billion Bullet Train to Nowhere" Initiative (2012)
Revision as of 06:12, 23 March 2012 by Polycal
approved for circulation in California as an initiated state statute. To earn a spot on the state's ballot, sponsors of the initiative must collect 504,760 signatures.
Prevents Issuance of Future High-Speed Rail Bonds. Initiative Statute.
If the initiative qualifies for the ballot and is approved by the state's voters, it will:
- 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.
- Allow 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 have been filed with elections officials.
- "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 estimate:
- "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: California signature requirements
- Doug LaMalfa and George Radanovich submitted a letter requesting a ballot title on January 24, 20121.
- The ballot title and ballot summary were issued by the Attorney General of California's office on March 15, 2012.
- 504,760 valid signatures are required for qualification purposes.
- The 150-day circulation deadline for #12-0004 is August 13, 2012.
- To qualify for the November 6, 2012 ballot, signatures must be submitted by late April 2012, earlier than the 150-day deadline. If the signatures are submitted within the 150-day deadline, but past the date to qualify for the November 6 ballot, then the initiative would be scheduled for the ballot in a future year.
- Letter requesting a ballot title for Initiative 12-0004
- Letter requesting a ballot title for Initiative 12-0010