Transportation.

Existing law authorizes the California Infrastructure and Economic Development Bank to sell specified portions of compact assets, defined as moneys required to be paid to the state under specified provisions of designated tribal compacts and the state's rights to receive those payments, to a special purpose trust, which may issue bonds that are secured against those assets. The net proceeds of the sale of the compact assets are required to be deposited into certain transportation funds in a specified order. Existing law requires that when the amounts described in those provisions have been paid to the transportation funds named, the revenues received by the state from the tribal compacts…