Agenda

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LEGISLATION COMMITTEE

Meeting Date:	04/12/2021
Subject: Resiliency Bonds
Submitted For:	LEGISLATION COMMITTEE
Department:	County Administrator
Referral No.:	2021-14
Referral Name:	Resiliency bonds
Presenter:	Steve Cruz, Cruz Strategies	Contact:	L. DeLaney, 925-655-2057

Information

Referral History:

Supervisor Burgis has requested an update on the status of resiliency bond proposals at the state legislature.

Referral Update:

The County's water advocate, Mr. Steve Cruz, will provide the Committee with an update on resiliency bond measures.

After the COVID-19 pandemic limited the number of bills moving forward last year, the two climate resiliency bonds from the 2019-2020 legislative session did not move forward. This year, however, Senator Portantino and Assembly Member Eduardo Garcia have re-introduced two climate bond proposals (SB 45 and AB 1500 respectively).

SB 45 is currently a $5.51 billion bond to be placed on the November 2022 ballot for projects related to wildfire prevention, safe drinking water, drought preparation, and flood protection. The Assembly vehicle, AB 1500, is a $6.7 billion proposal for the November 2022 ballot to fund similar projects.

The County's lobbying team coordinated meetings with both authors on behalf of the County and the Delta Counties Coalition to discuss the proposals and request additional funding for flood protection and specifically for the Delta, and also to ensure any bond proposal includes Delta conveyance neutrality language. We are currently finalizing a letter on behalf of the DCC to be shared with the authors, committee members, and our legislative delegation.

SB 45 passed out of the Senate Natural Resources Committee last week and will soon be heard in the Senate Governance and Finance Committee. AB 1500 has just been scheduled for its first hearing in the Assembly Water, Parks, and Wildlife Committee. We expect these to merge into one vehicle at some point in the legislative process, and the lobby team will continue to keep you apprised of the latest developments.

Lastly, it is important to note that there are approximately ten other legislative bond proposals on a variety of subjects that have been introduced this year, including bonds on housing, broadband, and school infrastructure.

Recommendation(s)/Next Step(s):

ACCEPT the report on the state resiliency bond measures and provide direction to staff and advocates, as needed.

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