Lease Revenue Bonds
As approved by the voters in the November 2006 general elections, Proposition 1B enacts the
Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006 to
authorize $19.925 billion of state general obligation bonds for specified purposes,
including high-priority transportation corridor improvements, State Route 99 corridor
enhancements, trade infrastructure and port security projects, school bus retrofit and
replacement purposes, state transportation improvement program augmentation, transit and
passenger rail improvements, state-local partnership transportation projects, transit
security projects, local bridge seismic retrofit projects, highway-railroad grade separation
and crossing improvement projects, state highway safety and rehabilitation projects, and
local street and road improvement, congestion relief, and traffic safety.
1 Total amounts programmed through June 30, 2019, including the two percent reserve for bond administration costs, except for PTMISEA Local Transit, which is the amount of funding awarded to local agencies as of that date, plus anticipated adminstrative costs. .