SB 337 — Repatriation Infrastructure Fund.
Last action — Returned to Secretary of Senate pursuant to Joint Rule 56.
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✓Introduced
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2In Committee
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3Passed Senate
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4Passed Assembly
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5To Executive
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6Enacted
This bill died with 2017-2018 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Existing law provides various sources of funding for transportation purposes, including funding for the state highway system, the local street and road system, and public transportation. This bill, until July 1, 2025, would require the Department of Finance, in consultation with the Franchise Tax Board, to estimate, on an annual basis by November 1 of each year, the amount of revenue to be received from state taxes in the next fiscal year as a consequence of enactment of a federal corporate repatriation statute pursuant to which foreign earnings of United States-based corporations that are currently invested abroad are moved to the United States. The bill, until July 1, 2025, after reservation of appropriate amounts required to be allocated by the California Constitution for Proposition 98 education funding requirements and the Budget Stabilization Account, would require the remaining repatriation revenues to be transferred to the Repatriation Infrastructure Fund in the State Transportation Fund, which the bill would create. The bill would continuously appropriate the revenues in the Repatriation Infrastructure Fund to the California Transportation Commission. The bill would require 65% of available revenues to be allocated by the commission to trade corridor improvement projects, and would require the Controller to apportion 30% of available revenues to cities and counties for local street and roads and 5% of available revenues to public transportation, as specified.
Bill Text
What changed in the latest version
1 added · 1 removed1 line(s) added, 1 removed.
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- Introduced 02/13/17 - Introduced Current pdf February 13, 2017
- SB337 View text html
Action History
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Returned to Secretary of Senate pursuant to Joint Rule 56.
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January 10 hearing: Heard for testimony only.
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Set for hearing January 11 in T. & H. pending receipt.
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Set for hearing January 10.
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April 5 hearing: Testimony taken. Hearing postponed by committee.
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Set for hearing April 5.
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Referred to Coms. on GOV. & F. and T. & H.
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From printer. May be acted upon on or after March 16.
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Introduced. Read first time. To Com. on RLS. for assignment. To print.
Sponsors
- Bates · Primary
- Nguyen · Cosponsor
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 1 co-sponsors · 120 not signed on
Sponsors (1)
- Bates
Co-sponsors (1)
- Nguyen
Not signed on (120)
120 members have not signed on to this bill.
Show all 120 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What does SB 337 do?
- Existing law provides various sources of funding for transportation purposes, including funding for the state highway system, the local street and road system, and public transportation. This bill, until July 1, 2025, would require the Department of Finance, in consultation with the Franchise Tax Board, to estimate, on an annual basis by November 1 of each year, the amount of revenue to be received from state taxes in the next fiscal year as a consequence of enactment of a federal corporate repatriation statute pursuant to which foreign earnings of United States-based corporations that are currently invested abroad are moved to the United States. The bill, until July 1, 2025, after reservation of appropriate amounts required to be allocated by the California Constitution for Proposition 98 education funding requirements and the Budget Stabilization Account, would require the remaining repatriation revenues to be transferred to the Repatriation Infrastructure Fund in the State Transportation Fund, which the bill would create. The bill would continuously appropriate the revenues in the Repatriation Infrastructure Fund to the California Transportation Commission. The bill would require 65% of available revenues to be allocated by the commission to trade corridor improvement projects, and would require the Controller to apportion 30% of available revenues to cities and counties for local street and roads and 5% of available revenues to public transportation, as specified.
- Who sponsors SB 337?
- SB 337 is sponsored by Bates and Nguyen.
- What is the current status of SB 337?
- This bill died with 2017-2018 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track SB 337?
- Track SB 337 free on One Click Politics — get push/email alerts when it moves.
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