The ballot initiative would issue a $2.7 billion bond for contaminated land and water cleanup projects
1928. (21-0034A1)
AUTHORIZES BONDS TO FUND CLEANUP OF CONTAMINATED LAND AND WATER
PAC
Not publicized
Signatures reached
(est. April 2022)
180000
Proponents
Andre Quintero
Topic
Energy and Environment
Type
INITIATIVE STATUTE
Circulation Deadline
06/13/22
Official Text
Petition Summary
Authorizes $2.7 billion in state general obligation bonds as follows: $1.7 billion to the Department of Toxic Substances Control ($1 billion to clean up contaminated sites, with priority to certain properties in Brisbane, Carson, El Monte, Lynwood, Newport Beach, Richmond, and Sacramento; $500 million to implement existing hazardous waste laws; $200 million to clean up schools); $600 million for grants to local governments and nonprofit organizations to acquire and remediate contaminated properties, including conversion to parks; $300 million for groundwater cleanup; $100 million for hazardous materials response. Appropriates money from General Fund to repay bonds
Fiscal Impact
Increased state costs of $4.3 billion to pay off principal ($2.7 billion) and interest ($1.6 billion) on bonds over the next 30 years. Annual payments would average about $140 million
Regulation:
California Constitution. Water Code . DIVISION 6. CONSERVATION, DEVELOPMENT, AND UTILIZATION OF STATE WATER RESOURCES [10000 - 12999]
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