Manola Secaira, CAPRADIO
In November, California voters will decide whether to approve of a bond that would fund state climate initiatives.
Legislators announced the $10 billion bond will appear on the November ballot as Proposition 4 earlier this month. Dozens of environmental groups advocated for it, especially in light of state budget cuts made earlier in the year that impacted climate programs.
Fred Greaves for CalMatters
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Many advocates are optimistic voters will approve of the bond, citing a PPIC survey published earlier this month that found 59% of California voters would likely vote “yes.”
Assembly member Lori Wilson was one of the legislators who introduced the measure. Before it came together, she said she’d been working to introduce a bond measure that would focus on agriculture. But she and other legislators eventually decided they’d see a better chance of success if they pooled their bond proposals.
“Once we started to see the cost of inflation, just the impact that the voters were feeling, we knew there really wasn’t an appetite for multiple bonds on the ballot and there would have to be consolidation,” Wilson said.
The bond would be paid off by California’s general fund, which is supported, for the most part, by tax revenue. The state’s legislative analyst’s office says the estimated cost to repay the bond would be $400 million a year over the course of 40 years.
Supporters say the bond would provide much-needed funds to accomplish California’s ambitious environmental goals, like its commitment to conserving 6 million acres of land by 2030.