Private Train to Las Vegas Moves Closer to Bond Approval
- California treasurer sets April vote as state copes with virus
- Virgin Trains seeks 15% of California’s bond allotment
Photographer: David Paul Morris/Bloomberg
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California may allocate a portion of its limited tax-exempt financing allotment to a proposed private train to Las Vegas even as it grapples with the expanding fallout of the coronavirus pandemic.
Virgin Trains USA’s plan to bankroll the construction of the high-speed railroad may receive approval from a California committee on April 14. State Treasurer Fiona Ma is putting the project up for consideration after the U.S. Department of Transportation sent the company a letter saying it can sell federally-authorized private activity bonds, her spokesman, Mark DeSio, said Wednesday.