(a) The authority shall establish an independent peer review group for the purpose of reviewing the planning, engineering, financing, and other elements of the authority’s plans and issuing an analysis of appropriateness and accuracy of the authority’s assumptions and an analysis of the viability of the authority’s financing plan, including the funding plan for each corridor required pursuant to subdivision (b) of Section 2704.08 of the Streets and Highways Code.
(b) The peer review group shall include all of the following:
(1) Two individuals with education and experience in the planning and construction of large transportation systems, such as high-speed rail, or highway systems with similar characteristics, designated by the Treasurer.
(2) Two individuals, one with experience in engineering and construction of high-speed rail or similar large infrastructure projects and one with experience in project planning and finance, designated by the Controller.
(3) One representative from a financial services or financial consulting firm who shall not have been a contractor or subcontractor of the authority for the previous three years, designated by the Director of Finance.
(4) One representative with experience in environmental planning, designated by the Secretary of Transportation.
(5) Two individuals with experience providing or governing intercity or commuter passenger train services in California, designated by the Secretary of Transportation.
(c) The peer review group shall evaluate the authority’s funding plans and prepare its independent judgment as to the feasibility and reasonableness of the plans, appropriateness of assumptions, analyses, and estimates, and any other observations or evaluations it deems necessary.
(d) The authority shall provide the peer review group any and all information that the peer review group may request to carry out its responsibilities.
(e) The peer review group shall report its findings and conclusions to the Legislature no later than 60 days after receiving the plans.
(Amended by Stats. 2015, Ch. 12, Sec. 3. (AB 95) Effective June 24, 2015.)