BayRail general meeting

San Francisco City/County Proposition B 1/2¢ Sales Tax

First Proposition B passed in 1989.

Collection of a one-half percent sales tax for a period of 20 years.
Formation of the SFCTA with a spending limit of $160 million per year.
Issuance of up to $742 million in bonds exempted from the general obligation bond ceiling of the City and County of San Francisco.
Allocation of the funds (estimated at approximately $45,000,000 per year) would be 60% to transit, 30% to street and traffic safety, 8% to paratransit, and 2% to transportation system management.

Current Proposition K passed 2003, expires 2034

A proposal to continue the current ½% sales tax, and replace the current transportation spending plan with a new 30-year plan. The new plan would provide funding for maintenance of local streets, transportation for the elderly and disabled, construction of a Central Subway, bus system upgrades, a Caltrain extension to a new Transbay Terminal, projects to improve pedestrian and bicycle safety, support for regional transportation systems (BART, Caltrain, and ferries), and replacing the roadway to Golden Gate Bridge. The proposal would allow the San Francisco Transportation Authority to spend up to $485.175 million per year and issue up to $1.88 billion in bonds, to be repaid from sales tax revenue.