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High-Speed Rail CEO urges legislature to stabilize funding, seek laws to speed utilities and eminent-domain processes
Summary
CEO told the board the administration proposed a cap-and-invest funding stream and asked the legislature for powers to streamline utility relocations, eminent-domain adjudication and some environmental permitting to stabilize schedule and costs.
At the board meeting the CEO laid out a multi-pronged request for legislative action to stabilize funding and reduce delivery risks. The CEO said the administration's proposal would securitize cap-and-invest (cap-and-trade) revenue for the program and that the administration sent language proposing roughly $1 billion per year over 15 years (presented in legislative language as a 20-year authority but technically 15 years for the program, the CEO said). "The proposal that went to the legislature was a billion dollar for over 20 years in the language. For us,…
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