Bill Text: CA SB867 | 2023-2024 | Regular Session | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Drought, Flood, and Water Resilience, Wildfire and Forest Resilience, Coastal Resilience, Extreme Heat Mitigation, Biodiversity and Nature-Based Climate Solutions, Climate Smart Agriculture, Park Creation and Outdoor Access, and Clean Energy Bond Act of 2024.
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Engrossed) 2023-07-06 - July 10 hearing postponed by committee. [SB867 Detail]
Download: California-2023-SB867-Introduced.html
Bill Title: Drought, Flood, and Water Resilience, Wildfire and Forest Resilience, Coastal Resilience, Extreme Heat Mitigation, Biodiversity and Nature-Based Climate Solutions, Climate Smart Agriculture, Park Creation and Outdoor Access, and Clean Energy Bond Act of 2024.
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Engrossed) 2023-07-06 - July 10 hearing postponed by committee. [SB867 Detail]
Download: California-2023-SB867-Introduced.html
CALIFORNIA LEGISLATURE—
2023–2024 REGULAR SESSION
Senate Bill
No. 867
| Introduced by Senators Allen, Becker, Portantino, and Stern (Principal coauthor: Senator Dodd) |
February 17, 2023 |
An act to add Division 50 (commencing with Section 90000) to the Public Resources Code, relating to drought and water resilience, wildfire and forest resilience, coastal resilience, extreme heat mitigation, biodiversity and nature-based climate solutions, climate smart agriculture, and park creation and outdoor access programs, by providing the funds necessary therefor through an election of the issuance and sale of bonds of the State of California and for the handling and disposition of those funds.
LEGISLATIVE COUNSEL'S DIGEST
SB 867, as introduced, Allen.
Drought and Water Resilience, Wildfire and Forest Resilience, Coastal Resilience, Extreme Heat Mitigation, Biodiversity and Nature-Based Climate Solutions, Climate Smart Agriculture, and Park Creation and Outdoor Access Bond Act of 2023.
The California Drought, Water, Parks, Climate, Coastal Protection, and Outdoor Access For All Act of 2018, approved by the voters as Proposition 68 at the June 5, 2018, statewide primary election, authorizes the issuance of bonds in the amount of $4,100,000,000 pursuant to the State General Obligation Bond Law to finance a drought, water, parks, climate, coastal protection, and outdoor access for all program. Article XVI of the California Constitution requires measures authorizing general obligation bonds to specify the single object or work to be funded by the bonds and further requires a bond act to be approved by a 2/3 vote of each house of the Legislature and a majority of the voters.
This bill would enact the Drought and
Water Resilience, Wildfire and Forest Resilience, Coastal Resilience, Extreme Heat Mitigation, Biodiversity and Nature-Based Climate Solutions, Climate Smart Agriculture, and Park Creation and Outdoor Access Bond Act of 2023, which, if approved by the voters, would authorize the issuance of bonds in an unspecified amount pursuant to the State General Obligation Bond Law to finance projects for drought and water resilience, wildfire and forest resilience, coastal resilience, extreme heat mitigation, biodiversity and nature-based climate solutions, climate smart agriculture, and park creation and outdoor access programs.
This bill would provide for the submission of these provisions to the voters at an unspecified statewide election.
Digest Key
Vote: 2/3 Appropriation: NO Fiscal Committee: YES Local Program: NOBill Text
The people of the State of California do enact as follows:
SECTION 1.
The people of California find and declare all of the following:(a) California’s changing climate creates increased risk of catastrophic wildfires, drought, severe heat events, and sea level rise, as well as impacts to agriculture, water supply and water quality, and the health of the forests, watershed, and wildlife.
(b) These risks and impacts vary by region and can overwhelm the resources of local governments that must cope with severe climate change-related events.
(c) Reducing vulnerability to fire, flood, drought, and other climate change-related events requires a statewide investment to increase
climate resilience of communities and natural systems.
(d) Governor Gavin Newsom has issued several reports and executive orders that have created a roadmap to climate resiliency in California that will help guide and direct investments.
(e) Governor Gavin Newsom issued the California’s Water Supply Strategy Adapting to a Hotter, Drier Future that outlines actions needed to take in order to recycle and reuse at least 800,000 acre-feet of water per year by 2030, free up 500,000 acre-feet of water through more efficient water use and conservation and make new water available for use by capturing storm water and desalinating ocean water and salty water in groundwater basins.
(f) Governor Gavin Newsom released in January 2021 the California’s Wildfire and Forest Resilience Action Plan to increase the pace and scale of
forest health projects, strengthen protection of communities, and manage forests, to achieve the state’s economic and environmental goals and drive innovation and measure progress.
(g) Governor Gavin Newsom released in April 2022 the Extreme Heat Action Plan to protect communities from rising temperatures in order to accelerate readiness and protection of communities most impacted by extreme heat, including through cooling schools and homes, supporting community resilience centers, and expanding nature-based solutions.
(h) Governor Gavin Newsom released in April 2021 California’s strategy for achieving the first-in-the-nation 30x30 conservation goal. Pathways to 30x30: Accelerating Conservation of California’s Nature outlines a vision to conserve an additional 6,000,000 acres of lands and 500,000 acres of coastal waters needed to reach 30 percent.
(i) Governor Gavin Newsom signed Senate Bill 1 of the 2021–22 Regular Session (Chapter 236 of the Statutes of 2021) that directed the California Coastal Commission to take sea level rise into account in its planning, policies, and activities, and established a cross-government group tasked with educating the public and advising local, regional, and state government on feasible sea level rise mitigation efforts.
SEC. 2.
Division 50 (commencing with Section 90000) is added to the Public Resources Code, to read:DIVISION 50. DROUGHT AND WATER RESILIENCE, WILDFIRE AND FOREST RESILIENCE, COASTAL RESILIENCE, EXTREME HEAT MITIGATION, BIODIVERSITY AND NATURE-BASED CLIMATE SOLUTIONS, CLIMATE SMART AGRICULTURE, AND PARK CREATION AND OUTDOOR ACCESS BOND ACT of 2023
CHAPTER 1. General Provisions
90000.
This division shall be known, and may be cited, as the Drought and Water Resilience, Wildfire and Forest Resilience, Coastal Resilience, Extreme Heat Mitigation, Biodiversity and Nature-Based Climate Solutions, Climate Smart Agriculture, and Park Creation and Outdoor Access Bond Act of 2023.90500.
(a) The proceeds of bonds issued and sold pursuant to this division, exclusive of refunding bonds issued and sold pursuant to Section 95012, shall be deposited in the Drought and Water Resilience, Wildfire and Forest Resilience, Coastal Resilience, Extreme Heat Mitigation, Biodiversity and Nature-Based Climate Solutions, Climate Smart Agriculture, and Park Creation and Outdoor Access Fund, which is hereby created in the State Treasury. Moneys in the fund shall be available, upon appropriation by the Legislature, for purposes of this division.(b) Proceeds of bonds issued and sold pursuant to this division shall be allocated according to the following schedule:
(1) ____ dollars
($____) for drought and water resilience programs, in accordance with Chapter 2 (commencing with Section 91000).
(2) ____ dollars ($____) for wildfire and forest resilience programs, in accordance with Chapter 3 (commencing with Section 91500).
(3) ____ dollars ($____) for coastal resilience programs, in accordance with Chapter 4 (commencing with Section 92000).
(4) ____ dollars ($____) for extreme heat mitigation programs, in accordance with Chapter 5 (commencing with Section 92500).
(5) ____ dollars ($____) for biodiversity protection and nature-based climate solution programs, in accordance with Chapter 6 (commencing with Section 93000).
(6) ____ dollars ($____) for climate smart
agriculture programs, in accordance with Chapter 7 (commencing with Section 93500).
(7) ____ dollars ($____) for park creation and outdoor access programs, in accordance with Chapter 8 (commencing with Section 94000).
CHAPTER 2. Drought and Water Resilience
91000.
The sum of ____ dollars ($____) shall be available, upon appropriation by the Legislature, for drought and water resilience programs.91010.
Of the funds made available by Section 91000, ____ dollars ($____) shall be available, upon appropriation by the Legislature, to the protect California water supply and water quality.91020.
Of the funds made available by Section 91000, ____ dollars ($____) shall be available, upon appropriation by the Legislature, to reduce flood risk and improve stormwater management.91030.
Of the funds made available by Section 91000, ____ dollars ($____) shall be available, upon appropriation by the Legislature, to improve watershed resilience and to protect and restore rivers, lakes, and streams.91040.
Of the funds made available by Section 91000, ____ dollars ($____) shall be available, upon appropriation by the Legislature, to establish a water trust.CHAPTER 3. Wildfire and Forest Resilience
91500.
The sum of ____ dollars ($____) shall be available, upon appropriation by the Legislature, for wildfire prevention, including reducing community wildfire risk and restoring the health and resilience of forests.CHAPTER 4. Coastal Resilience
92000.
The sum of ____ dollars ($____) shall be available, upon appropriation by the Legislature, for the protection of coastal lands, waters, communities, natural resources, and urban waterfronts from climate impacts. Eligible projects include, but are not limited to, projects to restore coastal wetlands and projects to address sea level rise.CHAPTER 5. Extreme Heat Mitigation
92500.
The sum of ____ dollars ($____) shall be available, upon appropriation by the Legislature, to address extreme heat in communities.CHAPTER 6. Protect Biodiversity and Accelerating Nature-Based Climate Solutions
93000.
The sum of ____ dollars ($____) shall be available, upon appropriation by the Legislature, for the protection of California’s biodiversity and to protect nature and restore landscape health to achieve California’s climate change goals.CHAPTER 7. Climate Smart Agriculture for Sustainability and Resiliency
93500.
The sum of ___ dollars ($___) shall be available, upon appropriation by the Legislature, for improving climate resilience of agricultural lands.CHAPTER 8. Park Creation and Outdoor Access
94000.
The sum of ____ dollars ($____) shall be made available, upon appropriation by the Legislature, for the creation and protection of parks, outdoor access, and educational institutions.CHAPTER 9. Fiscal Provisions
95000.
(a) Bonds in the total amount of ____ dollars ($____), not including the amount of any refunding bonds issued in accordance with Section 95012, may be issued and sold for carrying out the purposes expressed in this division and to reimburse the General Obligation Bond Expense Revolving Fund pursuant to Section 16724.5 of the Government Code. The bonds, when sold, issued, and delivered, shall be and constitute a valid and binding obligation of the State of California, and the full faith and credit of the State of California is hereby pledged for the punctual payment of both the principal of, and interest on, the bonds as the principal and interest become due and payable.(b) The Treasurer shall cause the issuance and sell the bonds authorized
by the committee pursuant to subdivision (a) in the amount determined by the committee to be necessary or desirable pursuant to Section 95003. The bonds shall be issued and sold upon the terms and conditions specified in a resolution to be adopted by the committee pursuant to Section 16731 of the Government Code.
95001.
The bonds authorized by this division shall be prepared, executed, issued, sold, paid, and redeemed as provided in the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code), as amended from time to time, and all of the provisions of that law, except subdivisions (a) and (b) of Section 16727 of the Government Code, apply to the bonds and to this division and are hereby incorporated in this division as though set forth in full in this division.95002.
(a) Solely for the purpose of authorizing the issuance and sale, pursuant to the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code), of the bonds authorized by this division, the Drought and Water Resilience, Wildfire and Forest Resilience, Coastal Resilience, Extreme Heat Mitigation, Biodiversity and Nature-Based Climate Solutions, Climate Smart Agriculture, and Park Creation and Outdoor Access Bond Finance Committee is hereby created. For purposes of this division, the Drought and Water Resilience, Wildfire and Forest Resilience, Coastal Resilience, Extreme Heat Mitigation, Biodiversity and Nature-Based Climate Solutions, Climate Smart Agriculture, and Park Creation and Outdoor Access Bond Finance Committee is the “committee,” as that term is used in the State General Obligation Bond Law.(b) The committee consists of the ____. Notwithstanding any other law, any member may designate a representative to act as that member in that member’s place for all purposes, as though the member were personally present.
(c) The ____ shall serve as the chairperson of the committee.
(d) A majority of the committee may act for the committee.
95003.
The committee shall by resolution determine whether or not it is necessary or desirable to issue and sell bonds authorized by this division in order to carry out the actions specified in this division and, if so, the amount of bonds to be issued and sold. Successive issues of bonds may be authorized and sold to carry out those actions progressively, and it is not necessary that all of the bonds authorized to be issued be sold at any one time.95004.
For purposes of the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code), “board,” as defined in Section 16722 of the Government Code, means the Secretary of the Natural Resources Agency.95005.
There shall be collected each year and in the same manner and at the same time as other state revenue is collected, in addition to the ordinary revenues of the state, a sum in an amount required to pay the principal of, and interest on, the bonds becoming due in that year. It is the duty of all officers charged by law with any duty regarding the collection of the revenue to do and perform each and every act that is necessary to collect that additional sum.95006.
Notwithstanding Section 13340 of the Government Code, there is hereby continuously appropriated from the General Fund in the State Treasury, for the purposes of this division, and without regard to fiscal years, an amount that will equal the total of the following:(a) The sum annually necessary to pay the principal of, and interest on, bonds issued and sold pursuant to this division, as the principal and interest become due and payable.
(b) The sum that is necessary to carry out Section 95009.
95007.
The board may request the Pooled Money Investment Board to make a loan from the Pooled Money Investment Account or any other form of interim financing in accordance with Section 16312 of the Government Code, for the purpose of carrying out this division. The amount of the request shall not exceed the amount of the unsold bonds that the committee has, by resolution, authorized to be sold for the purpose of carrying out this division, excluding any refunding bonds authorized pursuant to Section 95012, less any amount loaned and not yet repaid pursuant to this section and any amount withdrawn from the General Fund pursuant to Section 95009 and not yet returned to the General Fund. The board shall execute those documents required by the Pooled Money Investment Board to obtain and repay the loan. Any amounts loaned shall be deposited in the fund to be allocated in accordance with this division.95008.
Notwithstanding any other provision of this division, or of the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code), if the Treasurer sells bonds pursuant to this chapter that include a bond counsel opinion to the effect that the interest on the bonds is excluded from gross income for federal tax purposes under designated conditions or is otherwise entitled to any federal tax advantage, the Treasurer may maintain separate accounts for the bond proceeds invested and for the investment earnings on those proceeds and may use or direct the use of those proceeds or earnings to pay any rebate, penalty, or other payment required under federal law or take any other action with respect to the investment and use of those bond proceeds, as may be required or desirable under federal law in order to maintain the tax-exempt status of those bonds and to obtain any other advantage under federal law on behalf of the funds of this state.95009.
For purposes of carrying out this division, the Director of Finance may authorize the withdrawal from the General Fund of an amount or amounts not to exceed the amount of the unsold bonds that have been authorized by the committee to be sold for the purpose of carrying out this division, excluding refunding bonds authorized pursuant to Section 95012, less any amount loaned pursuant to Section 95007 and not yet repaid and any amount withdrawn from the General Fund pursuant to this section and not yet returned to the General Fund. Any amounts withdrawn shall be deposited in the fund to be allocated in accordance with this division. Any moneys made available under this section shall be returned to the General Fund, with interest at the rate earned by the moneys in the Pooled Money Investment Account, from proceeds received from the sale of bonds for the purpose of carrying out this division.95010.
All moneys deposited in the fund that are derived from premiums and accrued interest on bonds sold pursuant to this division shall be reserved in the fund and shall be available for transfer to the General Fund as a credit to expenditures for bond interest, except that amounts derived from premiums may be reserved and used to pay costs of bond issuance before any transfer to the General Fund.95011.
Pursuant to the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2 of the Government Code), the cost of bond issuance shall be paid or reimbursed out of the bond proceeds, including premiums, if any. To the extent the cost of bond issuance is not paid from premiums received from the sale of bonds, these costs shall be allocated proportionally to each program funded through this division by the applicable bond sale.95012.
The bonds issued and sold pursuant to this division may be refunded in accordance with Article 6 (commencing with Section 16780) of Chapter 4 of Part 3 of Division 4 of Title 2 of the Government Code, which is a part of the State General Obligation Bond Law, as amended. Approval by the voters of the state for the issuance of the bonds under this division shall include approval of the issuance, sale, or exchange of any bonds issued to refund any bonds originally issued under this division or any previously issued refunding bonds. Any bond refunded with the proceeds of a refunding bond as authorized by this section may be legally defeased to the extent permitted by law in the manner and to the extent set forth in the resolution, as amended from time to time, authorizing that refunded bond.95013.
Notwithstanding Section 16727 of the Government Code, funds provided pursuant to this division may be used for grants and loans to nonprofit organizations to repay financing described in Section 22064 of the Financial Code related to projects that are consistent with the purpose of the respective provisions of this division.95014.
The proceeds from the sale of bonds authorized by this division are not “proceeds of taxes” as that term is used in Article XIII B of the California Constitution, and the disbursement of these proceeds is not subject to the limitations imposed by that article.95015.
Bonds issued under this division shall, whenever practical, be aligned with generally recognized principles and best practice guidelines for financing drought and water resilience, wildfire and forest resilience, coastal resilience, extreme heat mitigation, biodiversity and nature-based climate solutions, climate smart agriculture, and park creation and outdoor access projects.SEC. 3.
Section 2 of this act shall take effect upon the approval by the voters of the Drought and Water Resilience, Wildfire and Forest Resilience, Coastal Resilience, Extreme Heat Mitigation, Biodiversity and Nature-Based Climate Solutions, Climate Smart Agriculture, and Park Creation and Outdoor Access Bond Act of 2023, as set forth in Section 2 of this act.SEC. 4.
(a) Section 2 of this act shall be submitted by the Secretary of State to the voters at the ____, statewide ____ election.(b) The Secretary of State shall include in the ballot pamphlets mailed pursuant to Section 9094 of the Elections Code the information specified in Section 9084 of the Elections Code regarding Section 2 of this act.
