Calif. Assembly OKs 1st Leg Of $68B Rail Project

Law360, New York (July 5, 2012, 9:25 PM EDT) -- California lawmakers on Thursday authorized initial financing of about $4.7 billion in state funds for a planned $68.4 billion rail system, setting up a vote in the state's Senate, which may be more wary of the plan to create 220-mph train service across the state.

In a 51-27 vote, the California Assembly passed SB 1029, which appropriated $7.9 billion — $3.2 billion of which came from federal funds — to the California High-Speed Rail Authority to allow it to get under way with the first leg...
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