PROP
 4

AUTHORIZES BONDS FOR SAFE DRINKING WATER, WILDFIRE PREVENTION, AND PROTECTING COMMUNITIES AND NATURAL LANDS FROM CLIMATE RISKS. LEGISLATIVE STATUTE.

 

OFFICIAL TITLE AND SUMMARY

PREPARED BY THE ATTORNEY GENERAL

  • Authorizes $10 billion in state general obligation bonds for various projects to reduce climate risks and impacts: $3.8 billion for safe drinking water and water resilience; $1.95 billion for wildfire prevention and extreme heat mitigation; $1.9 billion for protection of natural lands, parks, and wildlife; $1.2 billion for protection of coastal lands, bays, and oceans; $850 million for clean energy; and $300 million for agriculture.
  • Prioritizes projects benefitting disadvantaged communities.
  • Requires annual audits.
  • Appropriates money from General Fund to repay bonds.

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

  • Increased state costs of about $400 million annually for 40 years to repay the bond.
State Bond Cost Estimate

FINAL VOTES CAST BY THE LEGISLATURE ON SB 867 (PROPOSITION 4)
(CHAPTER 83, STATUTES OF 2024)

Senate: Ayes 33 Noes 6
Assembly: Ayes 66 Noes 6