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Policy: Technology

High-speed rail board adopts new business plan

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News,Business,Science and Technology,Technology

SACRAMENTO, Calif. (AP) — The board overseeing the California High-Speed Rail Authority has approved a new business plan to submit to state lawmakers.

The 2014 plan approved Thursday is an update required every two years for the $68 billion project.

Among its changes is a lower projection for revenue, prompted by research showing Californians are taking shorter but more frequent trips. The 2028 timeline for completing the 520-mile line remains unchanged.

The business plan does not affect the status of two court rulings being considered by a state appellate court.

A Sacramento County judge concluded that the project no longer complies with the promises made to voters when they approved it in 2008 and ordered the authority to develop a new financing plan explaining how the state will pay for the entire system.

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