Private Activity, Tax-Exempt Bonds
In September, the California Debt Limit Allocation Committee (CDLAC) board, chaired by Treasurer Ma, approved a provisional private activity bond allocation of $300 million for Virgin Trains USA / XpressWest to finance a ground-breaking high-speed rail line that will connect Southern California to Las Vegas. Early projections estimate 10,000 construction jobs and more than 1,200 housing units.