Existing law allows money expended from the Infrastructure
Investment and Jobs Act (act) cash fund to be used as matching nonfederal money for infrastructure projects pursuant to requirements of the act as well as for grant writing support, project planning support, and administrative needs. The bill clarifies that, with respect to the project planning support for which money from the fund is already authorized to be expended, the Governor's office may specifically expend money from the fund for project planning support for federal funding opportunities in connection with the act and related federal funding opportunities including funding opportunities from the Inflation Reduction Act. The bill requires that on July 1, 2023, the state treasurer is to transfer $86 million from the general fund to the Infrastructure Investment and Jobs Act cash fund.
The bill also requires that on July 1, 2023, the state treasurer is to
transfer $5 million from the general fund to the state highway fund for use by the department of transportation to develop comprehensive operational capacity to maximize utilization and implementation of federal infrastructure funding.
