Sacramento, CA – Freshman Assemblymember Jim Frazier’s (D-Oakley) first bill has been officially signed into law by Governor Jerry Brown.
Assembly Bill 1070, sponsored by State Treasurer Bill Lockyer, makes changes to the California Transportation Financing Authority (CTFA), which will help the authority accomplish its goals of reducing traffic congestion and improving the state’s transportation system. Assemblymember Frazier’s bill will aid CTFA in its ability to issue revenue bonds in order to finance transportation projects.
“AB 1070 will help give communities more flexibility in financing their transportation infrastructure needs,” said Lockyer. “I greatly appreciate Assemblymember Frazier’s hard work and skill in shepherding the bill through the Legislature. We picked an excellent author for this important measure.”
“California’s economic growth is vital and this legislation will provide assistance in the financing of transportation projects that will create numerous jobs,” said Frazier. “Transportation has always been a passion of mine and will continue to be one of my top priorities.”