California’s new state budget will allocate roughly $540 million to Bay Area transit in the 2023-2024 year to help transit agencies facing financial deficits, according to state Sen. Josh Becker, D-San Mateo.
Of the $540 million, around $140 million to $150 million is for flexible spending, and the other $400 million is for existing capital projects, Becker said. The Bay Area would get around $474 million in the 2024-025 year and $84 million in 2025-26 and 2026-27. Becker said it has yet to be determined how much money would go to Caltrain and SamTrans or when it would be allocated. The Metropolitan Transportation Commission would distribute the money. MTC is the regional body in charge of transportation planning and financing in the Bay Area.
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