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Today, Calif. Gov. Jerry Brown signed into law legislation that will advance California’s high-speed rail project.

Approved by the California Assembly and Senate on July 5 and 6, respectively, SB1029 calls for spending $4.7 billion in state bonds to build an initial segment of the state’s high-speed rail line in the Central Valley, as well as make improvements to local and regional transit systems. The bond funds will be matched by $7.9 billion in federal and local contributions.

Among the projects to be funded: a two-mile light-rail connection in Southern California that will link existing Los Angeles County Metropolitan Transportation Authority services and provide a one-seat ride to Union Station; a Caltrain electrification program; new rail cars for Bay Area Rapid Transit; and positive train control implementation in necessary areas.

The California High-Speed Rail Authority plans to launch construction on the initial high-speed rail segment, linking Merced and the San Fernando Valley, next year.