20250SB__060791AMD INTRODUCED 2025-02-20 AMENDED_SENATE 2025-03-24 AMENDED_SENATE 2025-05-01 AMENDED_SENATE 2025-05-13 AMENDED_SENATE 2025-05-28 AMENDED_SENATE 2025-09-12 AMENDED_SENATE 2026-01-05 AMENDED_ASSEMBLY 2026-06-08 AMENDED_ASSEMBLY 2026-07-02 2025 SB AMD Introduced by Senator Wiener (Coauthor: Senator McGuire) (Coauthors: Assembly Members Connolly, Haney, and Stefani) LEAD_AUTHOR SENATE Wiener COAUTHOR SENATE McGuire <caml:Contribution>COAUTHOR</caml:Contribution><caml:House>ASSEMBLY</caml:House><caml:Name>Haney</caml:Name></caml:Legislator>"?> <caml:Contribution>COAUTHOR</caml:Contribution><caml:House>ASSEMBLY</caml:House><caml:Name>Stefani</caml:Name></caml:Legislator>"?> COAUTHOR ASSEMBLY Connolly COAUTHOR ASSEMBLY Haney COAUTHOR ASSEMBLY Stefani

An act to amend

Section of the Streets and Highways Code, relating to transportation. transportation Golden Gate Bridge, Highway and Transportation District: contributions and loans. Existing law prohibits the Golden Gate Bridge, Highway and Transportation District from issuing general obligation or revenue bonds, or any other form of long-term indebtedness, except to finance an interim system of buses and ferries or to finance capital improvements or modifications relating to seismic safety of the Golden Gate Bridge.

This bill would authorize the district to accept contributions and loans from this state and the United States for the purpose of financing capital improvements or modifications related to seismic safety on the Golden Gate Bridge, as specified. MAJORITY NO NO NO NO NO NO NO NO NO NO The people of the State of California do enact as follows:

SECTION 1.

Section of the Streets and Highways Code is amended to read: 27556. (

a) Except as provided in subdivision (

b) and except for the necessity to finance its interim system of buses and ferries, as described in

Section 27551, or the necessity to finance capital improvements or modifications relating to seismic safety of the bridge, the district shall not issue general obligation bonds, revenue bonds, or any other form of long-term indebtedness. (

b) Notwithstanding subdivision (

a) or any provision of

Part 3 (commencing with

Section 27000) of Division 16, the district may accept contributions or loans from the United States or this state or any of its political subdivisions, or any department, instrumentality, agency, or authority of either thereof, for the purpose of financing capital improvements or modifications relating to seismic safety of the bridge.

The district may authorize the acceptance of those contributions or loans by resolution, which shall specify the purposes for which the contribution or loan is being accepted, the maximum principal amount of the loan, the maximum duration of the loan, and the maximum rate of interest to be payable on the loan, as applicable.

The district may do any and all things necessary in order to avail itself of that aid, assistance, and cooperation under any federal or state legislation now or hereafter enacted, including pledging toll revenues for the repayment of those loans and entering into contracts ancillary to those loans. Any evidence of indebtedness issued under this

section shall constitute a negotiable instrument. This subdivision is a complete, additional, and alternative method for the district to authorize and accept a contribution or loan from an entity for the purposes specified herein and shall be regarded as supplemental and additional to all other powers conferred to the district by law.