(a) Any toll revenues generated from a managed lane on the state highway system that is administered by a local agency shall be expended only within the respective corridor in which the managed lane is located.

(b) “Managed lane” means either of the following:

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(1) A high-occupancy toll lane, which is a dedicated lane that is free for vehicles carrying a minimum number of occupants, but which allows vehicles containing less than the minimum number of occupants to use the lane upon payment of a toll.

(2) An express toll lane, which is a dedicated lane that requires all vehicles to pay a toll in order to use the lane, but may provide for vehicles carrying a minimum number of occupants to pay a discounted toll.

(Added by Stats. 2014, Ch. 500, Sec. 1. (AB 2250) Effective January 1, 2015.)