Section 99314.4 Of Article 6.5. Transportation Planning And Development Account From California Public Utilities Code >> Division 10. >> Part 11. >> Chapter 4. >> Article 6.5.
99314.4
. (a) An operator in an urbanized area having a population
of less than 200,000 persons may elect to participate in the funding
exchange program authorized by this subdivision. An operator electing
to participate in the funding exchange program shall give notice to
the director and shall indicate the amount of funds which it wants
allocated for the funding exchange program.
From funds that would otherwise be allocated to an operator
pursuant to Sections 99313.3, 99314, and 99314.3, an amount so
designated by the participating operator shall be allocated to the
department for transfer pursuant to an agreement between the
department and the State of Arizona whereby California can receive
federal mass transportation funds originally apportioned to the State
of Arizona.
The department shall allocate the federal mass transportation
funds so received to each participating operator in the same
proportion as the operator contributed to the funding exchange
program. Funds so received shall be used only for the purposes
authorized by this chapter and are subject to all statutes and rules
and regulations applicable to funds allocated pursuant to Sections
99313 and 99314.
The Legislature finds and declares that the exchange of state
funds for federal mass transportation funds authorized by this
section will result in a net increase in the total amount of funds to
be available to the participating operators.
(b) A transportation planning agency, county transportation
commission, or transit development board may authorize an operator
under its jurisdiction to exchange funds allocated to it pursuant to
Section 99314.3 for funds made available pursuant to Section 99231.
Any funds allocated pursuant to Section 99314.3 that are exchanged
pursuant to this subdivision shall only be available to other
operators and shall be used for the purposes authorized by this
chapter and are subject to all statutes and rules and regulations
applicable to funds allocated pursuant to Section 99314.3. Exchanges
pursuant to this subdivision shall be on a dollar-for-dollar basis.