WATER QUALITY, SAFETY AND SUPPLY.
FLOOD CONTROL. NATURAL RESOURCE PROTECTION.
PARK IMPROVEMENTS. BONDS. INITIATIVE STATUTE.
- Funds projects relating to safe drinking water, water quality and supply, flood control, waterway
and natural resource protection, water pollution and contamination control, state and local park
improvements, public access to natural resources, and water conservation efforts.
- Provides funding for emergency drinking water, and exempts such expenditures from public contract
and procurement requirements to ensure immediate action for public safety.
- Authorizes $5,388,000,000 in general obligation bonds to fund projects and expenditures, to be repaid
from the state’s General Fund.
Summary of Legislative Analyst’s Estimate of Net State and Local Government Fiscal Impact:
- State cost of about $10.5 billion over 30 years to pay off both the principal ($5.4 billion) and interest
($5.1 billion) costs on the bonds. Payments of about $350 million per year.
- Reduction in local property tax revenues of several million dollars annually.
- Unknown costs, potentially tens of millions of dollars per year, to state and local governments to
operate or maintain properties or projects acquired or developed with these bond funds.
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