Eliminate General Fund Transfer to Multimodal Transportation Fund

Under current law, the state treasurer is required to transfer $10.5 million from the general fund to the multimodal transportation and mitigation options fund every July 1 beginning on July 1, 2024, and ending on July 1, 2031. The act eliminates this annual transfer only for 2026, 2027, and 2028. The act decreases the cash funds appropriation from the multimodal transportation and mitigation options fund created in the annual general appropriation act for the 2026-27 state fiscal year made to the department of transportation for multimodal transportation projects by $10.5 million.(Note: This summary applies to this bill as enacted.)