News

Actions

California rail officials want to tap remaining bond funds

Revised Calif. high-speed rail plan approved
Posted at 3:19 PM, Feb 09, 2021
and last updated 2021-02-09 18:19:41-05

SACRAMENTO, Calif. (AP) — Officials in charge of California's high-speed rail project want to tap $4.1 billion in bond money voters approved for a San Francisco-to-Los Angeles line to finish ongoing construction in the Central Valley.

Project leaders presented an updated funding and business plan Tuesday to the California High-Speed Rail Authority's board of directors.

The bond money, if approved, would go toward finishing construction on a 119-mile segment of track in the Central Valley. It would replace money from California's cap-and-trade program, which saw its revenue decline during the pandemic as fewer businesses sought credits to pollute.