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Summary
- $10 billion climate bond measure Proposition 4 in California aims to fund projects addressing safe drinking water, wildfires, and sea level rise to combat climate change.
- California taxpayers may pay back the bond at an estimated cost of $650 million per year for 30 years, totaling over $19 billion.
- The bond measure would allocate 40% of funding to disadvantaged communities and prioritize environmental justice efforts.
Key passage from article:
- Proposition 4 would authorize the issuance of bonds in the amount of $10 billion pursuant to the State General Obligation Bond Law to finance a variety of projects combating climate change, increasing resiliency, and supporting climate solutions.
- Some of the notable investments include: $3.8 billion for safe drinking water and groundwater, $1.5 billion for wildfire and forest programs, and $1.2 billion to combat sea level rise. Other projects include extreme heat mitigation, improved outdoor access, and investment in nature-based climate solutions.
Read the full post at Legal Planet.
