(a) The Legislature finds and declares that the Governor has issued a proclamation pursuant to paragraph (1) of subdivision (d) of Section 1 of Article XIX B of the California Constitution declaring that the transfer of revenues from the General Fund to the Transportation Investment Fund during the 2003–04 fiscal year pursuant to paragraph (a) of Section 1 of Article XIX B would have a significant negative fiscal impact on the range of functions of government funded by the General Fund of the state.
(b) Pursuant to paragraph (2) of subdivision (d) of Section 1 of Article XIX B, the transfer of revenues from the General Fund to the Transportation Investment Fund that would otherwise be required under paragraph (a) of Section 1 of Article XIX B is hereby partially suspended for the 2003–04 fiscal year. The amount of the transfer for the 2003–04 fiscal year shall be two hundred eighty-nine million dollars ($289,000,000).
(Added by Stats. 2003, Ch. 223, Sec. 1. Effective August 11, 2003.)