(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 2004–05 fiscal year pursuant to subdivision (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 subdivision (a) of Section 1 of Article XIXB is hereby suspended for the 2004–05 fiscal year.