(a) Funds allocated pursuant to this part that are not expended or encumbered by July 1, 2020, are hereby reallocated pursuant to subdivision (b) of Section 99684 to any other existing passenger rail project with existing rail service.
(b) The California Transportation Commission shall select the projects for the reallocation described in subdivision (a). The high-speed rail project as described in Chapter 20 (commencing with Section 2704) of Division 3 of the Streets and Highways Code is not eligible to receive reallocated funds pursuant to subdivision (a) as it is not providing existing rail service.