PROP
3

AUTHORIZES BONDS TO FUND PROJECTS FOR WATER SUPPLY AND QUALITY, WATERSHED, FISH, WILDLIFE, WATER CONVEYANCE, AND GROUNDWATER SUSTAINABILITY AND STORAGE. INITIATIVE STATUTE.

 

OFFICIAL TITLE AND SUMMARY

PREPARED BY THE ATTORNEY GENERAL

  • Authorizes $8.877 billion in state general obligation bonds for various infrastructure projects: $3.03 billion for safe drinking water and water quality, $2.895 billion for watershed and fisheries improvements, $940 million for habitat protection, $855 million for improved water conveyance, $685 million for groundwater sustainability/storage, and $472 million for surface water storage/dam repairs.
  • Appropriates money from General Fund to pay off bonds.
  • Requires certain projects to provide matching funds from non-state sources; gives priority to disadvantaged communities.

SUMMARY OF LEGISLATIVE ANALYST'S ESTIMATE OF NET STATE AND LOCAL GOVERNMENT FISCAL IMPACT:

  • Increased state costs to repay bonds averaging about $430 million per year over the next 40 years.
  • Savings to local governments, likely averaging a couple hundred million dollars annually over the next few decades.

Back to top Back to the Top