(a) The Legislature finds and declares that the Governor has issued a proclamation pursuant to paragraph (1) of subdivision (d) of Section 1 of Article XIXB of the California Constitution declaring that the transfer of revenues from the General Fund to the Transportation Investment Fund during the 2003–04 fiscal year pursuant to paragraph (a) of Section 1 of Article XIXB would have a significant negative fiscal impact on the range of functions of government funded by the General Fund of the state.
(b) Pursuant to paragraph (2) of subdivision (d) of Section 1 of Article XIXB, the transfer of revenues from the General Fund to the Transportation Investment Fund that would otherwise be required under paragraph (a) of Section 1 of Article XIXB is hereby partially suspended for the 2003–04 fiscal year. The amount of the transfer for the 2003–04 fiscal year shall be two hundred eighty-nine million dollars ($289,000,000).