The project calls for construction of a high-speed train that will run from Victorville, California, to Las Vegas.Photo – Brightline
The California Debt Limit Allocation Committee yesterday approved $600 million in tax-exempt bonds for Brightline/Virgin Trains USA's XpressWest, a proposed high-speed rail route between Las Vegas and Southern California.
Internal Revenue Service guidelines allow Brightline/Virgin Trains to market up to four times the amount of the $600 million in bonding authority, for a total of $2.4 billion in tax-free, private equity bonds, the Las Vegas Review Journal reported.
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