Senator Newman’s Transportation Lockbox Measure Approved by Legislature

The following is a press release from an organization unaffiliated with Voice of OC. The views expressed here are not those of Voice of OC.

For Immediate Release:

Contact: Monica Schmalenberger

April 6, 2017

(916) 651-4029

Senator Newman’s Transportation Lockbox Measure Approved by Legislature

 Sacramento  – On Thursday, April 6th Assembly Constitutional Amendment (ACA) 5, authored by Senator Josh Newman (D-Fullerton) and Assemblymember Jim Frazier (D-Discovery Bay) passed out of both houses of the Legislature. The measure will appear as a proposition on the next statewide election ballot, for citizen approval.

“Given the urgency of the transportation and infrastructure repair backlog before California, and the additional burden we are asking the state’s taxpayers to take on to address it now, it is essential that we provide Californians with a very clear assurance that these new revenues will be spent only on repairing our aging infrastructure, reducing congestion, and otherwise supporting transportation improvements that foster economic development across the state– in urban, suburban, and rural areas alike. ACA 5 provides voters with the important assurance that their hard-earned money will be spent in a responsible and fiscally prudent manner,” said Senator Newman.

The provisions of the transportation lockbox amendment expand upon the current protections in the constitution and securitize the new revenues raised by SB 1.

Specifically it will protect:

  • A new transportation improvement fee (progressive rate, $25 to $175):   Protected under ACA 5.
  • Gas excise tax (+12 cents):  Protected under current Article XIX, Section 2.
  • BOE price-based tax adjustment: Protected under current Article XIX, Section 2.
  • Diesel excise tax (+20 cents):  Protected under current Article XIX, Section 2.
  • Diesel sales tax (+ 4%):   Protected under current Article XIX A (And ACA 5 in new (subdivision (g)).
  • Zero Emissions Vehicle fee ($100, starting in 2020):   Protected under Article XIX, Section 3.

For the full language of the constitutional amendment please visit http://www.leginfo.ca.gov/.

###

Voice of OC posts press releases to provide readers with information directly from organizations. We do not edit or rewrite press releases, and encourage readers to contact the originator of a given release for more information.

To submit a press release email pressreleases@voiceofoc.org.