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Newsom signs AB 117, authorizing $590 million state loan to Bay Area transit agencies
Summary
Governor Gavin Newsom signed AB 117 at BART's Daly City yard, authorizing a $590 million state loan repayable over 12 years with the first two years interest-free; officials called the measure bridge funding to prevent service cuts while longer-term revenue solutions are pursued.
Governor Gavin Newsom signed AB 117 at BART's Daly City yard, authorizing a $590,000,000 state loan intended to shore up Bay Area transit operations.
Speakers at the event framed the loan as short-term bridge funding aimed at averting service reductions while local leaders pursue sustainable, long-term funding. BART board president Melissa Hernandez said the Daly City facility "is where the magic happens" and cited BART's scale: "we dispatch 665 trains each weekday serving 55,000,000 trips last year," which she said helps sustain the region's economy.
Metropolitan Transportation Commission chair Sue Nowak described the legislation as regional cooperation to prevent…
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